A recent report has highlighted the high sense of guilt that Spaniards feel when making expenses, especially on gifts and personal pleasures. According to the findings of the European Consumer Payment Report by Intrum, Spain is one of the countries with higher levels of this feeling, surpassed only by Greece. The study reveals that 40% of Spanish citizens feel guilty when spending more than planned on gifts, a figure that exceeds the European average of 33%. This trend is even more pronounced when it comes to personal purchases, where an alarming 54% of respondents admit to feeling bad when exceeding their budget, compared to the 45% European average.
The holiday season, a usual period of increased consumption that includes gifts, leisure, and food, presents a real challenge for many families in trying to balance their finances. This pressure not only affects their economic stability but also generates significant emotional distress, especially for those who cannot stick to their spending plans.
The report also points out that, when comparing different European countries, Spain ranks second in the list of guilt concerns regarding spending. Italy, the United Kingdom, and Germany have lower levels of concern, around 36% and 32%. In contrast, nations such as Austria, Denmark, and Sweden report even lower figures, around 26%, and Switzerland stands out for having the lowest percentage, at 20%.
The differences in guilt perception when spending are even more pronounced among generations. Generation Z youth are the most affected, with 46% of them feeling pressure in expenses for others and 67% in personal purchases. Millennials and Generation X also show high levels of concern, although less pronounced.
The report also highlights that 33% of Spaniards have increased their unplanned purchases in physical stores compared to two years ago, a behavior driven by the offers and promotions typical of the holiday season. This phenomenon is also evident at the European level, where the percentage rises to 38%.
Looking ahead to the upcoming celebrations, Intrum suggests that consumers establish a guide to manage their expenses. It recommends creating a specific budget for gifts, taking advantage of offers strategically, considering financing purchases carefully, and reviewing the total spending once the festivities are over. These recommendations are designed to help Spaniards face the well-known “January slope” with greater strength.
Source: MiMub in Spanish
