Every year, the holiday season leaves many with a financial hangover as credit card bills pile up in January. Personal finance expert Dave Ramsey advises that bad budgeting, not bad luck, is to blame for this cycle. To avoid this, Ramsey suggests planning ahead by budgeting for Christmas expenses monthly, just like rent or insurance. By setting aside money each month towards a savings goal, you can eliminate the need to borrow or dip into savings during the holidays. This proactive approach can help you enjoy a debt-free holiday season and start the new year on a financially sound note.

Read more at Yahoo Finance: Dave Ramsey Says Do This Instead to Avoid the High ‘Cost of Christmas Debt’