Boom in financial stress at Christmas. The feeling of anxiety and worry related to managing expenses during the Christmas period reaches its peak of the year. And it is above all those under 34 who suffer.
A survey by HYPE, the Italian neobank with almost 1.9 million customers, captures the stress under the tree. A survey conducted in November on over 5,000 HYPE customers revealed that 22% of those interviewed experience the greatest economic pressure in December, surpassing even the summer holidays, which represent the second most stressful moment with 18% of preferences. The study highlights that young people are the most affected: 25% of young people between 25 and 34 years old and 23% of those between 18 and 24 years old say they feel overwhelmed by financial stress during the holidays. This phenomenon progressively reduces with age, but remains significant even among 55-64 year olds (20%).
The anxiety of spending under the tree does not seem to spare anyone, regardless of their educational qualification. However, money-related emotions and habits show significant differences based on education level. Among those with less education, 35% perceive their economic situation as a primary source of concern, while among graduates this percentage drops to 24%.
Furthermore, 33% of people with less education declare a greater propensity to impulsive purchases, compared to 20% among those with at least a three-year degree.
Surprisingly, people with higher levels of education more frequently associate money with negative emotions such as anxiety (37% versus 19% of those with less education) and frustration (19% versus 12%). On the contrary, those with a lower educational qualification tend to link money to feelings of tranquility (60% versus 51%) and happiness (41% versus 31%).
Christmas accentuates financial stress, but it is not the only critical moment. 60% of respondents indicated daily expenses (bills, food, medical care) as the main source of economic pressure during the year, followed by free time (32%) and purchases of goods and services (22%).
This stress often translates into the need to resort to credit. 14% of those interviewed requested a loan during 2024, with a prevalence among 44-54 year olds (21%). The main reasons are purchases of goods and services (42%) and daily expenses (32%).
