it's the hardest time of year not to spend – gifts, food, trips and drinks – but if you want to make 2010 a better year for finances, you must think of your secured loan responsibilities before you think of putting presents on the plastic.

The adverts begin sometime in August and before we get the first frost of the year the shops are covered in tinsel and glitter – Christmas is big business and they want you to get spending. But for those who simply do not have the money and have spent the year making sure they can handle their mortgages and loans, it is a stressful time. Unfortunately, many turn to the plastic and put their Christmas on credit as the pressure mounts to spend.

This is dangerous – if you have seen your house price plummet this year, faced the possibility of unemployment or have been unsuccessful with a loan attempt now is not the time to be increasing your unsecured debts.

It is difficult, but you have to think of your secured loans this Christmas before you spend on credit cards – your secured debts are much more important to maintain than spending that bit extra this Christmas. Simply, spending irresponsibly now may mean your home could be at risk next year.

If you really need some extra money, talk to a financial professional. They will be able to help you go through your 2009 finances and tell you the truth about your money – if you can get hold of additional money through sensible secured lending they will do all they can to accommodate that and if you can't then they will help you plan your finances so you can still have a great Christmas, without putting everything at risk.

To keep up with the latest news and comments on current financial affairs please visit the Secured Loan Blog.