We all feel it. Most of us got paid early, and partied hard...and now we paying the price.

How do we manage to find the money to survive 'Janu-worry'?

Personal finance expert Frank Magwegwe chats to Azania Mosaka about tips to recovering from the holiday spending binge.

Step 1: Facing reality and working out exactly what your shortfall is.

The first thing to do is work out 'what are my obligations?' and write them down.

Frank Magwegwe, personal finance expert

He lists things like school fees, stationary, transport money, lunch money, and rent.

And then look at the funds you have available.

Because sadly, year after year, in January, consumers come back and they have spent more than they should have spent because they didn't budget.

Frank Magwegwe, personal finance expert

Step 2: Be careful how you cover that shortfall

The last thing you must do is go to a pay day loan or pawn shops and give them your goods.

Frank Magwegwe, personal finance expert

He suggests family and friends is a preferable first port of call.

And if that doesn't work try the formal line which is banks, who have reasonable interest rates.

Frank Magwegwe, personal finance expert

He says avoid those organisations that give you loans at exorbitant interest rates.

Step 3: Access your free annual credit report

Magwegwe says this report will help you find out exactly who you owe.

Take a listen to more of this expert's sage advice below:

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