Many Australians are entering the new year still paying off Christmas spending, according to new research by Finder.
A Finder survey of 1006 respondents reveals 6% of Australians – equivalent to 1.3 million people – have landed themselves in debt over the holiday season. This isn’t to mention those already in red.
On average, Australians are left with $1581 in debt after the festive period.
More than half of those in debt from Christmas (56%) – roughly 732,000 people – will take one to five months to pay off their owings. A further 11% will need six to 11 months to pay off what they owe, while 15% will take 12 months or more. Just 18% will be able to knock off their debt in under a month.
Sarah Megginson, personal finance expert at Finder, says many Australians are starting the new year with a serious case of ‘buyer’s remorse’ as holiday bills begin to arrive.
“With credit card debt at an all-time high, 2026 has begun as a real financial struggle for millions of Australians,” she says.
“At Christmas time we often shop without a budget, which means we can easily overspend on gifts, eating out, cooking and celebrating.
“The cost of Christmas and activities during the holidays has left some households facing a year-long climb back to financial stability.”
Millions of Aussies stuck paying off Christmas debt
