For those who met Christmas' challenge by using money they had: continue the New Year without fear and trepidation. For the rest of us who placed it all on the plastic: it won't be long before the credit Grim Reaper arrives in your letterbox.

And, that Grim Reaper may be telling a story that may be a little different to what we expected to hear.

"You'll overspend on your credit cards because it's not cash going out, so you don't realize it and you get that credit card bill and you go, ‘I spent $7,000 on Christmas!'"

This statement by a frugal Christmas shopper is too true and can be the source of anxiety for many consumers as they start the New Year already fighting a financial battle.

So, with so many advisors warning shoppers of the credit card trap, why is that we still find ourselves hocking our Christmas' to the hilt? Maybe we've given up or maybe expectations have just gone a tad over the top.

Whatever the reason, isn't it time we started using money we have and leaving the credit cards for those who can use them wisely?

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