Thursday will be the poorest day of the year for Britons after Christmas spending sprees
After the party, the hangover. Christmas cheer is set to run out for good tomorrow, as a new survey shows Thursday will be the poorest day of the year for Britons.
A perfect winter storm of high spending during December and payrolls being brought forward before the holidays begin will leave Brits with a New Year tightening of their belts, according to a survey of over 2,000 people by uSwitch.
Read more: Supermarkets celebrated a record Christmas – but prices are rising
It could take up to six months for millions of people to recover financially after a month in which spending is a third higher than average, with Brits stocking up on food and presents.
However, the survey shows UK consumers planning an austere start to the year by cutting back on non-essentials, like going out or luxury food. Seven per cent of consumers are even set to squeeze a bit of cash from selling presents and other possessions – or even stopping subscriptions to unused services.
And the squeeze could hit credit card repayments, after £11bn was put on plastic to fund Christmas spending. Nine per cent of those surveyed thought they might miss a payment.