If consumers are planning to spend freely at Christmas chances are they won't be using credit to make their purchases. The latest personal finance data shows personal loan and credit card balances shrinking.According to the latest Reserve Bank lending figures, personal finance balances fell by 0.3 per cent in October, compared with the previous month, and were flat over the 12 months to October.Australian Prudential Regulation Authority credit card figures show a 0.3 per cent fall in balances, compared with the previous month, but an increase of one per cent over the 12 months to October.However, the Westpac Melbourne Institute Index of Consumer Sentiment, published earlier this month, found that more people were planning to spend up on household items and Christmas gifts.Asked whether they expected to spend more, less or about the same on gifts, 16.9 per cent said "more". Over the past seven years an average of 12.5 per cent of respondents have said "more" in response to that question.There was also an increase in the proportion of respondents who said it was "time to buy a major household item". Good news for retailers but not, apparently, for consumer credit providers.