Many fear Christmas backlash in January

Photo: Gorm Kallestad / NTB scanpix

Many fear Christmas backlog in January

One in five fears a financial backlog in January due to excessive spending during the Christmas trade.


The money is loosely spent when Christmas shopping and Christmas presents are bought in December. And already, concerns about the economy have begun to be reported by many. A total of 850,000 Norwegians fear that Christmas shopping will give them bad economy when their everyday lives are resumed in January shows a survey Response has taken for SpareBank 1.

“It will be a difficult start in 2019 for those who do not hold back in December. It is particularly challenging if they already have a depressed private economy,’’ said economist, Magne Gundersen of SpareBank 1.

24% of women and 18% of men fear the consequences of Christmas spending.

In total, we will spend NOK 58.5 billion in December, equivalent to NOK 11,040 per person on average according to figures from Virke.

Gundersen encouraged everyone who cares for the economy to adjust their spending to their own wallet and save enough money for the bills that always appear in January.

“With a little planning and reasonable Christmas shopping, the money stretches further. Doing this will save you the financial blues on a Monday in January,’’ he said.


© NTB scanpix / #Norway Today