Holiday overspending worries husband

Dear Harriette: I got into a lot of debt over the holidays, and now it’s time to pay. I’ve maxed out my credit cards and hardly have enough money for my basic expenses. I’m embarrassed to tell my wife, but I need to do something — fast. Do you think she would understand? How can I tell her? She’s going to be so disappointed. — Martin, Jersey City, N.J.

Dear Martin: Definitely talk to your wife. Of course you are embarrassed, as you should be, but it’s better to be honest. State the facts in detail.

Tell her you regret your out-of-control spending, and you want to make things right. Find a financial consultant who, for a small fee, will help you consolidate your debt and set up a payment system.

In this way, you can pay off the debt and put yourself on solid footing for your family and your future. Also, many books can help you make the transition to financial freedom. You don’t have to do this alone.

The best way to get your wife to forgive you is to show her by your actions that you will not put your family in such a situation again.