As the festive season of 2025 fades into memory, many Canadians are confronting a less joyful reality: a pile of holiday debt. With credit card statements arriving and New Year's resolutions in full swing, financial expert Christopher Liew has issued timely advice on how to tackle this financial burden before it escalates further.
The Post-Holiday Financial Reality Check
Published on January 15, 2026, Liew's analysis comes at a critical moment for household budgets. The combination of gift purchases, travel expenses, and seasonal entertainment can lead to significant credit card balances. If left unaddressed, these debts can quickly accumulate high-interest charges, creating a financial strain that lasts well into the new year.
Liew emphasizes that procrastination is the enemy of debt reduction. The longer balances remain, the more interest accrues, making the total amount owed increasingly difficult to pay down. His guidance is designed to stop this cycle before it gains momentum.
Actionable Strategies for Debt Management
The core of Liew's advice revolves around proactive and structured financial management. He recommends starting with a clear and honest assessment of all outstanding debts, including the total amounts, interest rates, and minimum payments.
Creating a focused repayment plan is the next crucial step. This could involve strategies like the debt avalanche method, where you pay minimums on all cards but put extra funds toward the balance with the highest interest rate. Alternatively, the debt snowball method—paying off the smallest balances first for psychological wins—can also be effective for maintaining motivation.
Liew also suggests exploring options for lowering interest rates, such as negotiating with current creditors or consolidating debts with a lower-interest line of credit or balance transfer credit card. However, he cautions that these tools require discipline to avoid accumulating new debt on the cleared cards.
Building Sustainable Financial Habits
Beyond immediate debt triage, Christopher Liew's commentary underscores the importance of building a budget that accounts for future holiday spending. Setting aside money throughout the year in a dedicated savings fund can prevent the same debt cycle from repeating in 2026.
He advocates for using this post-holiday period as a financial reset opportunity. Tracking daily expenses, cutting non-essential subscriptions, and finding temporary ways to boost income can all free up extra cash to accelerate debt repayment.
The ultimate goal, according to Liew, is not just to erase the current debt but to establish healthier financial habits that provide stability and reduce money-related stress long-term. By confronting holiday debt head-on in January, Canadians can set a positive tone for their financial health for the rest of the year.
