From ghouls to zombies, Halloween masks can be scary — usually in a fun way! 

Pair a mask with your favorite miniature candies and you’ve got a Halloween party!

But sometimes, we use masks to hide things that are really scary. According to psychology experts, masking is when you hide your true feelings from others. In the financial world, you might cheerfully pay for your friend’s meal when you eat out, but in reality you’re running up credit card debt to keep up your care-free appearances.

We all know how easy it is to swipe, dip or tap that credit card on a daily basis, or run up other debts without keeping track of the total. This month, in honor of Halloween, take a few minutes to pull off your financial mask and take a good look at the reality of your debt.

Here are a few steps you can take:

Every credit card you have probably has an online portal you can use to look up your bills. If you can’t figure out how to login to an account, go ahead and give that phone number on the back a call. Make a list of all of your credit card debts.

Then, take a look at your other debts: any student loans, car loans, personal loans or anything where a business or person is expecting you to pay them back.

One you have a handle on what you owe to whom (and for what), it’s time to start tackling it!

You have a few choices here: You can either make the minimum payments on everything and instead put any extra money toward reducing debt with the highest interest rate, or... you can try to pay off the loan with the lowest balance.

Either way, seeing your balances go down will feel good and put you in a better financial situation going forward — with no mask required. Before you know it, you’ll be able to live and spend authentically!

Need more advice? We’re looking forward to presenting a free webinar called "Paying Down Debt" at noon on Wednesday, October 23. You can sign up through cofcu.org/events.

If you have more questions and can’t make that webinar, make an appointment to talk to one of our certified financial counselors, who can help you figure out the best way to tackle your debt this fall. We’re here for you and we’re eager to get your finances headed in the right direction!