A NerdWallet survey found more than one in four are still paying off those credit card purchases as they head into another holiday season,
The survey found 73 percent plan to use a credit card to buy presents this year – up from 58 percent last year.
Also, it takes about 14 weeks to pay off credit card purchases—that’s up from the 2.3 months that it took last year.
Besides credit cards, 33 percent will use layaway and 21 percent might use shopping loans.
Private wealth advisor Derrick Kinney said it's always interesting how Christmas catches people by surprise—which causes overspending and regret.
"Is it worth paying 14 weeks to pay off this gift for someone? Is it worth the cost to me long term? Typically, (I) advise them to set a strict budge ahead of time," said Kinney.
He said the best memories are the ones that are debt free.
"People who find themselves stuck on the debt treadmill need to realize, 'I need to step off this' and not make the treadmill go faster," said Kinney.
He said if you're already in the debt cycle—stop spending. Set a strict budget, come clean with the family and spend time together, not money.