The third Monday of January, which falls on Jan. 16 this year, is said to be the saddest day of the year as folks grapple with holiday debt, failed New Year’s resolutions and dreary days.

It’s widely known as “Blue Monday,” and the term was created by the no-longer-in-existence UK company Sky Travel and Welsh psychologist Cliff Arnall. To determine the “saddest day of the year,” the company said it used a formula that considered seven things: time since Christmas, monthly salary, weather, debt, time since failed New Year’s resolution attempt, low motivational levels and the need to take action.

To read the full story, visit the Huffington Post website here.