'No spend January': Financial advisers provide tips on how to stay on budget after holiday spending

'No spend January': Financial advisers provide tips on how to stay on budget after holiday spending

Some people are using the new year as a way to catch up on all that end-of-the-year spending.

CHICAGO - Some people are using the new year as a way to catch up on all that end-of-the-year spending.

It's called "No spend January," which means you would only make purchases that you have to, like your bills and rent or mortgage. 

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Financial advisors say spending only on what you need can help you get your budget back on track after holiday spending.

Experts say getting your friends on board and holding each other accountable can also help.

They also advise making a budget and staying away from "buy now, pay later services" to reign in spending all year.