Christmas is notoriously expensive, and costs can start piling between end of year celebrations and Christmas shopping. Those without enough cash saved will often resort to credit to tide them over. But this can result in a post-festive debt hangover that lingers well into the new year.
Plenty of us are guilty of overspending during the holiday period, but this carefree attitude to money can end up damaging your credit score in the long run.
Christmas can be an expensive time of the year and it’s all too easy to spend more than you planned to. Many people start the New Year with bills they are unable to pay and this reality quickly replaces the joy of Christmas with a feeling of worry and regret.