Second choice among people in Europe, the US and Australia is “I want to reduce my debt”. By far the most popular choice of resolution is “I want to save more” – 41% of people in Europe who plan to make a resolution for 2016 selected this option. Men are somewhat (20%) more likely to say they will pay more on Christmas 2015 than women (13%).Īnother striking finding is that more than seven in 10 people in Europe who plan to make New Year resolutions for 2016 will include a financial goal. Young people aged 18 to 24 appear to be slightly more frugal than their elders when it comes to buying Christmas presents. Luxembourg is not too far behind, with a median gift budget for Christmas 2015 of EUR300. The US – included for the first time this year, along with Australia – is second overall, with a planned spend equivalent to EUR360. The UK comes out on top, with a median planned spend of EUR420. In terms of what individuals plan to spend this year on presents, the amounts cited are little different to the figures from last year’s report. More positively, only nine percent of all the people polled say they went into debt for Christmas 2014. In Romania, 16% agree they went into debt to pay for Christmas 2014. People in these two countries are also more likely to go into debt to do so. ![]() One of the more interesting findings is that the UK and Romania are the countries in Europe most likely to save for Christmas and to spend more this year on presents. Our Christmas and New Year 2016 report reveals a certain share of the population can be tempted to stretch finances almost to breaking point for festivities. For others, this season can become rather stressful – not least because of the potential shock to the wallet. End of year celebrations at Christmas and New Year represent a time of joy and peace for many people.
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