It’s nearly Christmas, and with all the excitement comes the temptation to spend big, whether it’s buying presents for loved ones or snapping up bargains at the post-Christmas sales.
But, as a new consumer behavior report finds, growing numbers of people are facing lingering financial worries due to pressures stemming from the holiday season.
The findings of the fourth annual European Consumer Payment Report 2016, published by Intrum Justitia, make for stark reading.
One in four of the more than 21,000 people surveyed say that they worry about being able to afford to buy Christmas presents. And 30% normally spend more on gifts than they planned to.
In addition to this, one in seven of those asked agreed that they either end up borrowing money or max out their credit cards, just so they can buy presents for family and friends.
That means a deeper shade of the January blues for many, with 25% of those who responded to the survey saying that the first month of the new year is their most difficult month financially.
To find out more, download the European Consumer Payment Report at intrum.com/ecpr2016.