New year, new financial goals: Tips to get out of debt and grow savings

Holiday hangovers come in many different shapes and sizes, and that includes debt.

A recent Lending Tree survey found 37% of respondents wracked up an average of $1,200 in holiday debt alone.

"Among the priorities Americans should have for the new year: pay down the highest cost debt," said Mark Hamrick, Bankrate senior economic analyst.

Hamrick also says to take a look at monthly expenses.

"My personal preference would be that somebody probably doesn't allocate more than a third of their monthly income to those kinds of housing related expenses."

Experts say try to put your money to work. High-yield savings accounts can make you money, up to 4%. Certificates of deposit are also a safe way to add income.

And, if you can, max out your 401k contributions.

Lastly, checking all your subscriptions and cancelling the ones you no longer use can make a big difference.