Many will feel the financial pinch in January after another expensive Christmas.
The Independent’s Personal Finance Editor Simon Read said despite sale days like Black Friday and Cyber Monday, 2014 will still prove to be a costly year for most.
“I think 2015 will be the year we need to look at these bargains closely,” he said.
He added some shoppers will have overspent on things they did not need because they thought they were getting a bargain.
He is also advising people to put away their credit cards and plan ahead for the following year by saving small amounts each month.