Christmas brings with it many problems, it is a time of year when there is great abundance yet "want" is most keenly felt. The average British consumer tries to get around the feeling of "want", by purchasing food and gifts on credit.
Unfortunately the debts incurred in Christmas's past tend to reappear, like Marley's ghost, in Christmas present.
Research conducted by UK financial comparison service, MoneyExpert, has found that over 4.2 million people are still paying back Christmas credit card debt from 2005. UK payments association Apacs has estimated that £11.4 billion will be spent on credit cards this Christmas.
Sean Gardner, chief executive of MoneyExpert.com, said:
"With more than four million of us still paying for last Christmas it is clear that there is a need for many of us to change our financial habits. Getting into debt is fine as long as you have the means to get out of it."
The modern belief in the immediate satiation of wants should be tempered with an appreciation of the old wisdom, that things are best appreciated if you have to wait and save for them.