INDIANAPOLIS (WISH) — Christmas is here and the festivities can be so much fun, but there’s also the risk of “debt hangover.”

A survey by Achieve and Talker Research found the most expensive holiday spending category is transportation, as those planning to travel this year will spend $846 on average.

After that is food and beverages, and then gifts.

Brad Stroh, co-founder and co-CEO of Achieve, said, “And while most want to put money into making the season special for their loved ones, there can also be pressure from internal and external sources to spend beyond your means. It’s important to take a step back and evaluate your spending habits during the holidays.”

Looking ahead to 2025, 20% of those surveyed say they won’t recover from the 2024 holiday season until May. Nearly 30% of those surveyed say they’llopen a new line of credit to cover holiday spending.

Possibly because of this, more than 4 in 10 Americans say they planned to “go lean” and spend less this year compared to years past.

Tips for digging our of holiday debt

• Try to pay at least 3 times the minimum monthly payment.
• Transfer balances to zero percent offers.
• Don’t be afraid to call your credit card company and ask for a lower short-term interest rate.