Money Wellness has introduced a free interactive Christmas Debt Calculator designed to show how long festive borrowing may take to repay and how much interest it could generate.
The tool – accessible at www.moneywellness.com/christmas-debt-calculator – is simple to use. Shoppers can input their Christmas spending alongside their credit card repayment information, and the calculator instantly displays repayment length, total interest, potential savings from higher repayments, and a visual schedule comparing spending with interest charges.
Recent figures from Money Wellness indicate a steep rise in borrowing as households continue to face financial strain. Currently, 60% of customers hold credit card balances averaging £5,000 (up from 57% and £4,000 the previous year), while the number of people seeking help with BNPL debts has jumped by 44% in the past 12 months. October 2025 marked a record month for BNPL support requests, with further increases expected in early 2026 as Christmas borrowing becomes due.
With essential costs still elevated, many households feel they have no option but to rely on credit, often making only minimum repayments – a cycle that can trap families in long-term debt.
For instance, a household spending £1,000 on Christmas using a credit card at 29.9% APR and sticking to the 3% minimum payment could need 8–10 years to clear the debt, paying an estimated £700–£1,000 in interest alone.
Sebrina McCullough, External Affairs Director at Money Wellness, said: “Black Friday is nearly here, and lots of people are getting ready to spend on presents, food, travel, and decorations. But with household bills still high, many are being forced to rely on credit cards or Buy Now Pay Later (BNPL) to cover festive spending – and some could be paying off this year’s Christmas debt well into the 2030s.
“The problem is the interest, especially if you can only afford minimum repayments.
“Our calculator gives people a clear, personalised picture of how long Christmas spending could take to clear. It’s simple, practical, and designed to help people make informed decisions before the shopping rush begins.
“If anyone is worried about money or struggling with credit cards, BNPL, or other bills, we’re here to help and our support is completely free.”
The calculator allows users to tally their Christmas spending in real time, input APR and monthly repayment amounts, view a repayment timeline, compare interest charges with increased payments, and access cost-saving advice and free debt support.
The tool is available to try now at www.moneywellness.com/christmas-debt-calculator.
