University goers throughout the UK who spent big last Christmas may find their student finances are still suffering as a result.
New research from Halifax has shown that many people have yet to finish paying for their expenditure over the festive period.
And students might be particularly affected by such indulgences, as the study revealed younger individuals are more likely to be paying off what they owe as a result of yuletide spending.
Anthony Warrington, head of current accounts at Halifax, said: “We all face unforeseen costs from time to time, but Christmas shouldn’t be one of them. If it’s December before you think about how to pay for it, it’s too late.”
Mr Warrington explained the festive spell is always likely to be an expensive time, but noted failing to plan or budget can result in people having a financial hangover from the period for a long time.
According to the study, people in the north of England typically spent £530 last Christmas, which was £28 greater than the national average of £502.