A sobering snippet of news is that one in 10 of the population still owes for last Christmas.
And one in three admits they will start the new year in debt because of the festive season.
The Money Advice Service says two in five adults are worried about how they will afford Christmas.
One in three will use credit cards and 1.2 million will use pay-day loans – despite their astronomical interest rates – because they want to make the occasion special for children and family.
People with a problem could do worse than contact the Citizens Advice Bureau which has produced a leaflet, in conjunction with Barclaycard, about how to avoid debt at Christmas.
This year’s total festive bill is expected to reach £24 billion. The average that people expect to spend is £487.
And I thought this was a religious festival.
The tills will be ringing with sales and the loan merchants will be wringing their hands in glee.
