It’s Christmas! A time to enjoy some well-earned time off with friends and family. A time to go to more parties than you normally do, get more taxi’s than normal, more car journey’s, presents…the list goes on. For many, the expected and unexpected costs put huge pressure on finances, family and relationships over the Christmas period, but fear not, come January all will be ok, right?
Our latest independent research has showed that you are FIVE times more likely to use short term credit in January than December. That’s right, five times.
In addition, the research uncovered the fact that you are TWICE as likely to use short term credit options, no matter the time of year, if you are paid monthly rather than weekly.
This supports the message that if you are paid more regularly, then you are able to budget and manage your money better, which as per advice from the NHS and MIND is a major contributor to improved mental and financial health.
We will be releasing our full report in the New Year, but for a snapshot of some of key facts, please see below. If you’d like us to send you the research directly, please drop an email to MKTG@hasteepay.com
Words by Jamie