Now that the holidays are over with, it’s time to deal with the debt that’s sure to have accumulated as a result of gift buying. It’s never easy paying off holiday debt, but it’s certainly not impossible if you put your mind to it. In fact, getting that additional burden lifted from your shoulders is a little easier than you think. All it takes is a utilization of a few of the following strategies:

Eat less, exercise more: It’s a guarantee that the less you eat, the more money you’re sure to save as a result. That’s because healthy eating is all about portion, and reasonable portions are likely to be much smaller than you’re used to. But in addition, you can stand to see an improvement in your average life insurance quote due to a healthier lifestyle.

Pay triple the minimum payment: If possible, simply pay as much as possible every month. If you’re used to paying double, then go with triple the minimum payment in order to speed the process up. You’ll be paying this debt off one way or another, so the sooner, the better.

Take on a second job: This is undoubtedly the hardest method of freeing yourself from holiday debt to commit to, but if you can’t triple your minimum payments, why not take on a second job? Whether it’s tending bar, delivering pizzas, or taking online surveys, whatever gets you more income is enough to help you pay off that holiday rate debt quicker than you otherwise would be.

Negotiate better interest rates: This won’t be easy without a fierce determination to do so, as credit card agencies are certain to receive their fair amount of lowered APR requests, but it never hurts to try and get your credit card interest rates lowered after the holidays are over. If it’s the first time you’ve ever attempted such a lowering, then there’s a good chance you’ll walk away with a lower monthly payment.

Wait for your tax refund: If you can handle making minimum payments on those credit cards for a few more months, then your best bet is to wait till your tax refund in springtime. Chances are you’ll be netting around $2500 to $3500, which should be plenty to pay off holiday debt.

Whether it’s through working more hours or re-evaluating the way you spend money, paying off that holiday debt is far from impossible. The hardest part is generating the will and discipline necessary to follow through on the tactics involved. If you possess the determination to succeed in these arenas of holiday debt elimination, then there’s no doubt that you’ll prove victorious in your efforts.

I was recently given a copy of the book,The Psychology of Wealth: Understand Your Relationship with Money and Achieve Prosperity. Since I do believe psychology plays a major part in personal finance I chose to review this book. If you have been reading personal finance blogs for a while you know that the basics of personal finance are pretty simple. Knowing the basics of personal finance and actually applying the basics are two different things though. That is where the the psychology comes in.

Since this book is written by a psychologist I figured it would provide a good framework of the psychology needed to attain wealth. It does provide what the author considers to be the four qualities that wealthy people possess. They are self-esteem,responsibility,determination, and achievement. I agree that those qualities are good ones to have to achieve wealth but I don’t feel that the author gives much information to help you develop those qualities. He does provide lots of case studies that are interesting but not always helpful.

The author loses me when he talks about the power of positive thinking. I agree that positive thinking is a positive attribute and it can help you achieve success. But I don’t believe it has the magical power that the author gives to it. You still have to go out and do stuff and not just think about it. The author gives an example of a woman who was down to her last $5 and used it to buy a raffle ticket. She ended up winning a hot-air balloon ride which was something she always wanted. The author stated that she had a healthy sense of self-esteem and trusted her ability to create prosperity for herself. I don’t think that had anything to do with her winning. I think it was just luck. Using your last $5 to buy a raffle ticket is not a wise choice. It worked out okay for her but I guess all the other people who bought raffle tickets weren’t thinking positive. There are several instances of similar what I consider to be bad advice in the book.

I like the idea of using psychology to help achieve success and I have reviewed other books that I though did a good job of observing how psychology affects wealth. This book however, contains too much magical thinking and other bad advice for me to be able to recommend it.

It’s a given that saving money is easier done a bit at a time, rather than large amounts. A ten-spot? Fifty cents a day a month, with a few days to fudge on. A hundred dollars a month, on the same principle, is a little less than $3.50 daily — skip your morning coffee, or choose a cheaper entree at lunch, and you’re part of the way there, nearly painlessly.

Tuck the accumulating money in a higher-interest online account, like Ally Bank. Sure, interest isn’t high right now — a $1200 deposit (i.e., 12 months of $100 monthly) will only earn you a little more than $10.00, at the current rate of .84%. But that’s ten bucks you earned with no effort.

Your best asset in this process is time. Interest rates won’t be low forever; even if they hang on the tip end of nowhere for a while, your growing savings will qualify you for a higher-interest CD, instead. (Check out the best current deal at Bankrate.com.)

Other things in life benefit from compounding. Take food. Instead of a steak tonight (around $7.00/lb as of this writing), choose a steakburger or pork loin ($3/lb or less). Use the extra money saved to buy steak when it’s on sale. (Holidays like Valentine’s Day, Memorial Day and the Fourth, or Labor Day often feature fancy cuts for much less.) Or put it into fruit you crave — apples, pears and oranges are a lot cheaper in a ten-pound bag, than by the piece or pound. (Save that extra to invest in higher-quality coffee, travel mug and a coffeepot with a timer — fresh coffee when you wake every morning, and no stops for bitter coffee in a paper cup.)

Don’t forget to compound your time, too. Shovel your walk soon after the snow stops, so the sun can finish the job. (Smugly read the paper while watching your neighbor scrape ice off his porch — priceless.) Putting away tools after use means they’re ready again when you need them — and you won’t be buying unnecessary extras because you can’t find one. (Not that I’ve ever done this!)

Clean, put away clothes mean less urge to go out and buy new ones. And a little water swirled in pots and pans right after cooking (unless they’re cast iron) means less scrubbing time afterwards. It may not seem like much at the time — but it is, with these helpful tips:

*Save a bit at a time…more as you can afford it.

*Every minute counts — even if it goes to something relaxing.

Let the positive power of compounding change your life, a bit at a time.

This post is by staff writer Cindy Brick. Cindy is a quilting expert with several published books on the subject and has also had many published articles on a variety of subjects. You can visit her business website at CindyBrick.com or visit her personal blog.