AS Christmas approaches, the colour red is seen in shopping centres, workplaces and homes.
But it's not the colour you want to see on your post-Christmas financial statements.
Households often struggle the most during the months following Christmas, says Roger Mendelson, the chief executive of debt collection agency Prushka.
Lump sum holiday pay and spending on credit cards could be dangerous traps for people during Christmas, he said.
"People tend to get carried away," Mr Mendelson told AAP.
"Then when they get back to work, they're hit with back-to-school expenses, most of which is not budgeted for."
While it is tempting to treat Christmas as a time of indulgence not prudence, it's important to think ahead to avoid being snowed under in January.
Mr Mendelson said post-Christmas financial hangovers could cause serious problems for the start of the new year.
"In previous years it's certainly had an impact on arrears on housing loans."
He said credit cards were the number one trap for Christmas shoppers.
"You need to have a budget. And don't get carried away on a credit card."
Businesses are also not immune from the post-Christmas slump.
"If a business is going to fail, it will be in a post-Christmas quarter," Mr Mendelson said.
"Post Christmas has always been the hardest time for businesses."
Mr Mendelson said there were some simple ways to avoid the Christmas budget blowout.
These included making a budget, putting away the credit card, building a buffer for emergencies and organising Kris Kringle with the family or putting limits on presents.
"It's not how much you spend, it's the thought behind it," he said.
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