HOLIDAY BILLS: Smaller Checks Cause Budget Stress

All those holiday gifts Iowans charged last month are showing up on credit card statements and its forcing some to re-think their budgets.

Brant Anderson says, “I did my bills last night and it’s definitely going to be a little bit tighter in the next couple of months.”

Also adding to the budget stress, is the fiscal cliff deal that saw your payroll taxes increased by two-percent. Banks around the metro have been busy with customers looking for help.

Wells Fargo in Urbandale says pre-planning and budgeting for unexpected events helps cut costs.

District manager Jacob Johnson says, “If you can plan for how much you’re going to spend and what you’re going to be buying throughout those times, you can really keep that spending under control.”

The payroll tax increase will take an extra $ 50 per month out of your paycheck for anyone earning $50,000 this year.