In the time frame of our short attention spans, this recent recession has been a bit long. Many people who have changed their spending behaviors in accordance with economic conditions appear ready to slide back into pre-recession habits. At least that’s the hope offered by retailers reporting their December sales results.

Last month saw the best monthly retail sales in more than 20 months, with consumers ready to spread a little Christmas cheer after abstaining during the recession. Additionally, rock-bottom discounts in the post-holiday sale fervor further tempted consumers. But, of course, the real point is that consumers appear to be developing comfort with spending money again.

While this is likely to provide a boost to the economy, it is not likely to do much in terms of actually helping individual finances. This is because, in spite of the frugality seen in recent months, many Americans are still in debt. While the savings rate has risen, and debt has decreased, it hasn’t been by enough to overcome the credit spending spree that characterized the 15 or so years leading up to the most recent recession.

If consumers are already tired of frugality and ready to dive back into the instant gratification of credit spending, all it will do is once again raise their debt, reduce their savings — and put them in a worse position for the next economic downcycle.