AMARILLO, Texas (KAMR/KCIT) — Christmas was Sunday and now that all the Christmas shopping is done, it is time to think about financial recovery. According to Amarillo National Bank Manager and Vice President Heath Stevens, 2022 has been one of the most challenging years in a long time.

“I saw something the other day, I think families on average are spending an extra $400 a month on just the things that always spend on, so it’s been a challenging year that we have seen with all of our customers,” Stevens said.

He added that even with it being a challenging year, it did not slow the consumers down during the holidays. He mentioned that credit cards are getting used a lot more during this time and gave tips on what people can do to recover from it.

“I think the first thing they need to do is look at their finances, put it down on paper, see what they spent, where their money is going. I don’t think it’s just the things they spend on the holidays, I think it’s on things they spend on every month,” he said. “You know, look at the things they can cut out, a subscription here, or a service they don’t need anymore and if they are kind of spending frivolously they probably need to find a way to kind of stop.”

Stevens said that Amarillo National Bank offers loans during the holiday season, and after, they see many customers come in for loans so they can get back on their feet. Stevens also encouraged the community to use their tax returns to get back stable.

“Working at the branches we see a lot of customers come in and they get some hefty tax returns and stuff. So, especially with how we are talking with the inflation of this past year, the holidays and who knows what the future is going to look like in the short term with the economy,” he said. “They need to do everything they can to put that to good use, to make sure they are putting towards the things they need more than the things they want.”

Stevens anticipated that in the following year the economy may begin to flatten but could still be filled with the unknown. He encouraged the community because of the unknown to be cautious when spending money.