Here’s how to take care of your holiday debt

COACHELLA VALLEY, Calif. (KESQ) - U.S. consumers were projected to spend $1 trillion dollars this holiday season, according to the National Retail Federation. For those who put most of their holiday spending on their credit cards, News Channel 3 spoke with local independent financial advisor, Simon Hobbs, about the best way to tackle your credit card debt.

Here are Hobbs' tips:

1. Keep track of and understand all your debts, whether that's from credit cards or loans.
2. Write down the rate your paying on each debt.
3. Tackle the debt with the highest interest rate first. If you have an interest rate above 20%, you want to pay that down as soon as you can.

Hobbs also suggests that you first pay for the bills that sustain everyday life, like your mortgage and rent, electricity and gas bill. He shares that it's best to automate those payments so "you don't have to motivate yourself each month to make the payments you don't really want to."