Are we a nation of budgeters or festive spenders?

Whilst 72% of consumers say they will set a festive budget this year, 40% of those expect to exceed their budget despite doing their best not to.

Inflation (38%) was named as the top reason for this overspend, followed by wanting to spoil loved ones (26%) and not wanting to be a ‘Grinch’ (15%).

The research by PayPal* found that 43% rationalise their overspending, 26% see themselves as losing money if they do not spend enough to qualify for free delivery. Meanwhile, 20% re-gift unwanted presents as the ultimate saving hack.

Ros spoke to finance guru and entrepreneur Patricia Bright.

Photo by Colin Watts on Unsplash