According to research on Daily Mail, about one in three people will take on debt to pay for Christmas gifts.

Most of those going into the red will spend more than average on their credit card, or use their overdraft to absorb extra spending.

Others will borrow from friends or family, or take out a personal loan.

I got rid of all of my credit cards.  I am the person that credit card companies love because I like to use the card, and not pay all of the bill at the end of the month.

I only use my debit card, and only spend what I have.  That being said, I have saved for Christmas, because I have so many people to buy for...which is getting crazy, I have to admit.  I love buying for my kids!

What about you?  Do you go over budget?  Do you rack up the credit card charges?  How many people do you have to buy for?