holiday hangoverDuring the holiday season, the joy many of us feel is tempered by our dread at opening credit card invoices in January. Apparently we pay for our pleasures.

We will make New Year’s resolutions and vow to shed weight at the gym and through dieting. Why not put your budget on a diet, embracing the discipline of Credit Free Friday?

This is a movement espoused by personal finance gurus David Ramsey and Canada’s own Gail Vaz-Oxlade. The belt-tightening up here gained steam last year when the Canadian Federation of Independent Business (CFIB) and Vaz-Oxlade announced the launch of the Credit Free Friday campaign.

“Excessive use of credit cards, especially premium credit cards, contributes to escalating consumer debt and hurts small businesses,” explains its site. “Credit Free Friday is a campaign that encourages Canadians to take a break from using their credit cards, one Friday at a time, by paying with cash or Interac Debit.”

The site also provides sobering credit card facts (the average Canadian now owes more than $27,000, and that doesn’t include mortgages), advice on how to get involved with Credit Free Fridays, a few debt stories and tools to help manage debt problems.