The credit crunch means that more people are putting their Christmas plans on hold and reducing the amount that they spend over the festive season. But many should be thinking about their spending habits over last Christmas, as one in four people are still repaying this debt.

According to website, 40% of Brits used credit cards or unsecured borrowing in order to afford Christmas 2007, but only 29% of these have managed to repay this debt during January. Those who are most at risk of falling into debt are people in their 30s, as 47% of this age group borrowed money last year.

James Wenger, of, commented: “With a rising number of Britons still paying for last Christmas it raises alarm bells over how the pattern will continue into 2009 as the economic turmoil continues.”

If you are worried about your Christmas and having problems with your debt management issues, One Advice have put together a guide on how to keep within a realistic Christmas Budget.