A leading high street bank has issued debt and credit card advice to help consumers manage their personal finance during the Christmas period - and beyond. The Co-operative Bank is offering consumers suggestions designed to help them avoid a festive financial hangover.

Short-term advice consists of not letting debt build up during the Christmas period - it won’t go away by simply forgetting about it. The Co-op also advises that consumers could benefit from checking out consolidation loans as a way of getting a better debt management deal. If consumers have problems in controlling their credit cards - hide them - that way there is no chance of adding to debts that may already exist.Long-term financial solutions are also important; the Co-op states that by working out a budget consumers can accurately assess their income and expenditure.

Sheila Macdonald, chief operating officer at the Co-operative Bank, said: “People often make resolutions at this time of year, and it is the perfect time to make some serious decisions about your financial future.”Taking simple steps, like transferring to a credit card provider that offers a cheaper borrowing rate than your existing provider will save you money if you don’t pay off your balance every month.”