Chloé Moore, CFP®

Thank you @investmentnews for sharing the story of career and how I built my firm! ow.ly/eq5J50RbsV8

@DebtFreeGonnaBe Great advice! We should always have a plan for windfalls (expected or unexpected) so we don't just spend them!

A4. Automate payments, apply windfalls (tax refund, raise, bonuses) to balances, negotiate lower interest rates, sell unused items or pick up side gigs for extra income, consider balance transfers, and celebrate small wins. #creditchat

@Experian A10 When reviewing your holiday spending last year, decide what expenses you can reduce or cut. Create a holiday spending budget and set a little money aside throughout the year so you’re prepared. Look for creative ways to give that don’t require a lot of money. #CreditChat

Q10. Looking ahead, what planning strategies help people prepare for next year’s holiday expenses without relying on credit? #CreditChat

@Experian A9 If you find yourself making impulse purchases often or comparing yourself to others and spending beyond your means, you may want to reach out to a financial therapist for help. The @FinTherapyAssoc has great resources. #CreditChat

Q9. What approaches can help individuals process their feelings about holiday spending in a healthy and constructive way? #CreditChat

@Experian A8 Nonprofit credit counselors and financial coaches can help you regain control of your debt. Also, don’t underestimate the power of community. Your friends may be struggling with holiday spending regrets too. Support each other and become accountability partners. #CreditChat

Q8. What kinds of professional or community resources can help people regain control after a costly holiday season? #CreditChat

@Experian A7 High utilization rates, late payments, and missed payments can negatively impact of your credit score. Work on a plan to stay current on your debts and pay down those balances as soon as possible. It’s also important to start preparing for this holiday season now. #CreditChat

Q7. How can post-holiday spending impact a person’s credit, and what steps can help safeguard or improve credit health going forward? #CreditChat

@Experian A6 Awareness is key and it's the foundation for making a realistic plan. Online tools like @monarch_money can help you assess past spending and create a budget for this year’s expenses. You can customize the categories and goals to fit your plan and be proactive. #CreditChat

Q6. What tools or methods do you find most effective for helping people understand and modify their spending habits after the holidays? #CreditChat

@Experian A5 Continue to make payments on all of your debts, even if it’s just the minimum. Apply extra cash to the appropriate debt for your plan, then keep paying down the debt to reduce your balance. If you’re in trouble, contact the creditors. #CreditChat

Q5. How can individuals protect their credit health even if they’re dealing with temporary financial strain? #CreditChat

@Experian A4 Reducing your expenses is a good way to accelerate debt repayment. If your budget is already tight, try a side hustle. Look for ways to earn a little extra cash and apply those earnings to your debt. #CreditChat

Q4. What are some sustainable ways people can accelerate debt repayment without creating added financial stress? #CreditChat

@Experian A3 You can cut spending by implementing no spend days, eliminating impulse purchases, and limiting the number of times you eat out each month. An annual subscription audit can help you eliminate products or services you no longer use. #CreditChat

Q3. What are some practical ways to cut expenses in January and February to rebalance holiday overspending? #CreditChat

@Experian A2 After you list out all of your debts and understand how much you can contribute each month, look at the balances and interest rates. The snowball and avalanche methods are popular ways to tackle debt. #CreditChat

Q2. How can individuals prioritize which debts to tackle first when multiple accounts were used for holiday purchases? #CreditChat

@Experian A1 To assess your holiday spending, start by knowing the facts. List out all of your debts, savings, income, and expenses. This information can help you see where you are so you can develop a plan. #CreditChat

Q1. How can people assess the true impact of their holiday spending without feeling overwhelmed or discouraged? #CreditChat

@Experian Ready to chat! #CreditChat

Hey #CreditChat family! Happy New Year! How’s everyone doing?

@Experian A10 Confident! #CreditChat

Q10. In one word, how do you want to feel about money this holiday season? #CreditChat

@Experian A9 I love to give and receive candles, and holiday scents are my favorite. If you enjoy cooking, homemade treats are always a hit! #CreditChat

Q9. Gifts don’t have to break the bank! What’s your favorite budget-friendly gift idea or DIY present to give (or receive)? #CreditChat

@Experian A8 Setting financial and personal boundaries during the holidays can help you eliminate stress and prioritize yourself. #CreditChat

Q8. What role does self-care play in setting financial and personal boundaries this time of year? #CreditChat

@Experian A7 Family game nights, football watch parties, movie nights, and cookie competitions are fun traditions that don’t require a lot of money. #CreditChat

Q7. What’s one fun, inexpensive holiday tradition you’d recommend to others? #CreditChat

@Experian A6 Talking with friends and family about your financial goals can inspire them to think about their goals. You can also find creative ways to have fun that don’t involve spending a lot of money. #CreditChat

Q6. How can setting money boundaries actually improve your relationships and mental health during the holidays? #CreditChat

@Experian A5 I’ve avoided excessive gifts and decorations over the years. Quality time with loved ones and a few thoughtful gifts are more important to me than lots of things I don't need or have to store. #CreditChat

Q5. What’s one “holiday spending trap” you’ve learned to avoid over the years? #CreditChat

@Experian A4 Clear communication can be helpful when managing children’s expectations and it can teach them responsibility. Let them know you have a budget for their gifts and have them prioritize their list. #CreditChat

Q4. What are some tips for managing your children’s expectations while staying within your budget? #CreditChat

@Experian A3 Before you get into the holidays, revisit your goals and think about how you’d like to start the new year financially. This will help you set boundaries and possibly inspire others to do the same. #CreditChat

Q3. What are some practical ways to set clear spending boundaries with friends and loved ones? #CreditChat