Coping with debt after the holidays is a reality many people face.

From BDO Debt Solutions, Mike Bragga says the data points to people consciously overspending on Christmas.

He says a common mistake is not coming up with a budget and a plan to pay off debt gradually rather than trying to pay as much as they can as quickly as they can.

Bragga says it can leave families without any cash for necessities and stagger your debt payments.