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Many of us are only just starting to worry about the financial fallout from this Christmas - but research by uSwitch suggests that one in six credit card borrowers (17%) are still repaying debts from Christmas 2011.

What's more, just under one in five credit card holders (19%) currently owe more than £5,000 - and 7% don't see themselves ever paying everything off.

The research highlights the fact that many people are constantly in debt. Although not all of them are struggling, some people find they can't quite get out of the red no matter how hard they try - and that could leave them at risk of problems in the future.

Challenge yourself to improve your finances

Following our research on people's New Year's resolutions for 2013, we've set up a 12-month resolutions challenge to help people achieve their goals this year.

The basic idea is that you set yourself a new challenge each month - either following our own suggestions, or by making your own.

One of our suggestions is putting a budget together - properly planning how much you need for your essential living costs, and how much you have left to spend. 55% of people we surveyed said they plan on doing this.

If you have debts left over from the Christmas period, making a budget can give you a clear path to paying them back. If you're in a lot of debt then it may take a while, but it will feel good to know that you are gradually reducing what you owe.

If you are one of the many people who struggle to keep track of their finances, there are services that can help - such as the thinkmoney Current Account. It's basically an alternative to a regular bank account that helps you budget by putting money for bills and other important costs to one side at the start of the month.

What's more, you'll never be charged for missed payments or going overdrawn. All you'll play is a single monthly fee of £14.50 (or £21.25 for joint accounts). You can find out more about how the account works here.

Quick and easy to apply

Apply for a thinkmoney Current Account today.

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