For a good number of those people it means consolidating their credit card and overdraft debts on to a zero per cent balance transfer deal.

But if you have a sizeable chunk of debt sitting on a credit card now, it makes financial sense to sort it out today, rather than wait until January.

The latest statistics from the British Bankers’ Association (BBA) show that 43% of all credit card balances, totalling £26.8bn, are being charged interest. If they were being charged at an average rate of 18.9% APR, the total interest would be £13.8m per day.

Switching to a zero per cent balance transfer card now, two months earlier, could save you two months’ worth of interest, and according to data site Moneycomms, someone with a £7,500 card balance at an average 18.9% APR could save £236.25.

For higher outstanding debt, the savings could be greater:

Andrew Hagger of Moneycomms said: “While we’re all looking of ways to keep the cost of Christmas down, there’s an obvious saving opportunity staring many people in the face every time they open their monthly credit card statement.

“Credit card lenders are falling over themselves for your custom at the moment, so why not get your New Year’s resolution in ahead of the game and give your finances an early boost as a result?”

Top 0% credit card deals for switching

The longest 0% balance transfer deals currently include:

• nuba – 41 months at 0% – balance transfer fee of 3.49%, plus a £20 Amazon voucher for transfers over £1,000
• Halifax 41 months at 0% – balance transfer fee of 3.24%
• MBNA 41 months at 0% – balance transfer fee of 3.49%.

For a shorter 0% balance transfer term but with a lower balance transfer fee, the deals include:

• MBNA – 32 months at 0% – balance transfer fee of 0.64%
• Barclaycard – 32 months at 0% – balance transfer fee of 0.64%
• Tesco Bank – 32 months at 0% – balance transfer fee of 0.66%.

You could also consider a money transfer card which allow you to repay not just credit card balances, but also other borrowing such as overdrafts or loans:

• Virgin Money 0% for 25 months – 2% money transfer fee
• MBNA – 0% for 24 months – 1.99% money transfer fee
• Tesco Bank – 0% for 40 months – 3.94% money transfer fee.