December is the season of giving but it’s also the season of spending and many Canadians find the bills piling up come January.

This week is Credit Education Week and Capital One Canada and Credit Canada Debt Solutions commissioned a survey that reveals Canadians are great at resolving to be better money managers in the upcoming year, but not so great at the follow through.

Rob Livingston, the president of Capital One Canada tells 660News, the best time to make a money resolution is now before the big spending holiday season.

Livingston says the big problem is people make resolutions on January 1st but when their credit card bills come in they find they’re already behind.

He says people want to be generous and buy gifts for friends and family but they don’t always think about how much that’s going to cost them when they’re making their new years financial resolutions.

The best advice he can give is to always make sure you set aside money for unforeseen costs and make sure you have a monthly budget done up before making your financial resolution.