Getting on top of the festive overspending

Avoid the temptation of last-minute shopping and stay calm after Christmas

- By SARA KEENAN

Although Christmas is an exciting time, after forking out for presents, parties, travel and food, it is hard to recover financially.

Research from Creditspring shows four in 10 parents are still paying a price in spring, with some still repaying costs into autumn.

The pressure to deliver a perfect Christmas is driving overspending, with nearly half of parents spending more than they can afford.

We spoke with chief risk officer at Creditspring, Tamsin Powell for advice on festive spend hangovers.

HOW CAN PEOPLE PREVENT OVERSPENDING AND GET BACK ON TRACK?

Budgets are key - and don't panic now that is is Christmas Eve, thinking you have to get more food and last-minute presents.

"Try and be realistic with your budgets and be honest with yourself about what you spend and try and stick to it," Tamsin said.