Expensive December month puts nearly 40% of NL residents in financial difficulties

Nearly 40 percent of Netherlands residents have trouble making ends meet financially in December due to holiday-related expenses, according to a survey by Hart van Nederland. A study by ABN Amro showed that over a quarter of Dutch expect to spend more this holiday season than last year, while about a fifth plan to spend less.

Nine percent of Dutch people have “a great deal” of difficulty keeping financially afloat in December due to the holidays. And 30 percent said that the expensive month causes “some” money problems, according to Hart van Nederland’s survey of a representative 3,389 members of its opinion panel.

Just over half (52 percent) of the Hart van Nederland respondents plan to spend 100 euros or less on gifts this year. 38 percent plan to spend between 100 and 500 euros. And 6 percent plan to spend over 500 euros.

Half (48 percent) of Netherlands residents spend more on Christmas gifts than on Sinterklaas. A quarter (27 percent) said they spend more on Sinterklaas gifts. The rest said they don’t spend money on either holiday.

ABN Amro expects retail turnover to increase by 730 million euros to 15.6 billion euros in December, primarily due to price increases. That is an increase of about 5 percent compared to December 2022.

The bank surveyed 1,250 people and found that 28 percent expect to spend more on gifts and other holiday-related things this month, while less than a fifth hope to spend less. The other 55 percent said they had budgets comparable to last year's.

Those who plan to spend less this year said it was because they want to be more conscious with their money and only want to buy necessary things. Nearly a quarter of Netherlands residents plan to do their holiday shopping at cheaper supermarkets this year. And over a fifth said they planned to buy B brands instead of A brands.