One in five Europeans needs to borrow for Christmas gifts

For many, Christmas means that busy everyday life is replaced by peaceful and joyful days together with family and friends. But it also comes with a price. Intrum's European Consumer Payment Report 2018 shows that 27% of all Europeans worry about how to afford Christmas gifts.

Even more European consumers, 32%, are convinced that they spend more than they should on presents for Christmas.

The result come from Intrum's yearly pan-European consumer survey, European Consumer Payment Report. The survey is based on answers from consumers in 24 countries between the ages of 18-65.

This year's findings reveals that a large group of people are really struggling with Christmas gifts: 18% of Europeans sometimes need to borrow to buy Christmas gifts.

The results also show that parents struggle the most. One in four, 25%, of consumers with children under 18 say they need to borrow to buy presents for Christmas. 

One consequence of the holiday spending is well-known: 30% describe January as the most financially difficult month of the year.

- The joyful spirit of Christmas can make it tempting to overspend on presents to loved ones. Deciding on a gift budget in advance can make it easier to only shop for as much as the household finances allows, and avoid backlashes when January comes, said Anna Fall, Chief Brand & Communication Officer Intrum

About the European Consumer Payment Report 2018

The answers of 24 398 respondents, between the ages of 18-65 in 24 European countries, were collected in total. The survey featured questions concerning household finances and was conducted during September 2018.For access to the full Consumer Payment Report, please go to