Holiday Hectic: Half the UK Workforce Is Considering a Christmas Payday Loan
Picture this: You’re scrolling through Pinterest boards, dreaming of twinkling lights and a perfectly trimmed tree, when the reality of your bank balance steps in like an awkward friend who yells “Sorry, I’m out of cash.” A fresh new survey by Perkbox, the global rewards and benefits platform, gives us the inside scoop on how many people are thinking about borrowing to make the season sparkle.
The Numbers That Might Make Your Santa Nose Turn Blue
- Almost 50% – specifically 47% – of UK workers admit they’re planning to tap into debt to get their Christmas kits together.
- Only 21% of respondents say they’ll still manage to preserve the festive magic, even with the cost‑of‑living surge.
In a survey of over 2,000 employees, the money‑market shift isn’t just a headline; it’s a reality check. With costs creeping up, many people are feeling the pressure, and the question on everyone’s lips is whether that holiday cheer is going to survive.
What That Means for Your Holiday Hangover
Think of the season a bit like a budgeting game: you’ve got gifts, flights, food, and that merry “£” you just didn’t think you’d need. If you’re one of the half who’s leaning on finance, keep in mind that borrowing for joy can lead to a tall, long term saga, with interest rates dinging up your future budgets.
Takeaway Alert: Pay Your Present, Not Your Future!
While a 10‑10 Christmas is worth savoring, a too‑overflowing wallet can slip into a more somber season—think winter blues and a mortgage stampede. If you’re pressed for cash, consider treating yourself with a cheap multi‑layer Christmas list, skip the “extra” vape it, or simply play the “quiet starry night” game. After all, the real gift is the memory, not the mortgage.
Employees seeking out Christmas support
When the Stock Market Shouts “Cheques Pending…But a Tinsel Tale?
In a decade where living‐savings budgets are shrinking faster than a Christmas tree’s tinsel, employees are turning their holiday wish lists over to their bosses. Yet, it turns out only 14% of workers feel relaxed enough to say “I’ve got everything I need to survive the festive season” — proof that most office coffers still lack a Christmas gift basket.
Reward & Benefit Platforms: The New Santa’s Workshop
Those lucky enough to have a rewards platform in their corporate toolkit are faring better. Nearly a quarter (23%) of them claim their employer’s shiny perks are helping them take a breather and enjoy their own holiday spree. The data comes from Perkbox, a sit‑back‑and‑shop platform that now has over 80,000 users, sparking a 27% uptick in redemption during its Black Friday promotions.
Black Friday: The Start‑of‑Shopping Season for Your Wallet
It seems the weekend that kick‑starts the buying frenzy also doubles as a cash‑in‑hand moment for many. With Perkbox users jumping this year, the platform is showing deeper engagement, like a loot box filled with compliments.
Brands That Would Instantly Illuminate Your Christmas Tree
The most coveted discounts? Amazon, Samsung, Apple, Curry’s, and Wine52. Imagine unwrapping this year’s gift basket with a mix of gadgets and Airbnb discounts. These brands topped the leaderboard, meaning the most recruited bargains on Black Friday are one click away from being in your festive leaderboard.
So as the holiday lights glitter, companies might want to consider calling in Santa’s helpers sooner rather than later — or at least spin a stronger rewards wheel that makes employees feel a little more festive. Otherwise, the biggest deal they might miss out on could be the morale boost of just saying, “Yay!” to a well‑timed gift. Cheers to a less strained, more cheerful 2023 boardroom!
Holiday Season 2024: A Time for Tingles, Tensions, and Tightening Wallets
Everyone knows the festive season is the perfect chance to breathe a sigh of relief, swap gifts, and share laughs with the people who matter most. Unfortunately, lately your paycheck seems to have turned into a lean, mean holiday budget machine.
With the cost‑of‑living crisis knocking on every door, many of us have found ourselves putting more of our hard‑earned cash toward everyday essentials—groceries, energy bills, that little extra from the bathroom spatula store. The result? Fewer dollars for that classic holiday-merry‑wine, homemade gingerbread, or the surprise gift that actually looks like you cared.
Enter the Heroic Planner: Employers With a Plan
But hey, businesses aren’t all boardrooms and stale coffee. Many employ creative tricks to throw a wallet‑saving lifeline across to their workforce. Think of it as a holiday pat on the back that doesn’t poison your bank account.
A Few Most Popular Tactics
- Seasonal Rewards: The go‑to gift that checks the box of “you’re valued.” It’s the sweet‑baby of pay‑day perks.
- Employer‑Funded Discount Schemes: People adore getting a freebie or a discounted deal—especially if it’s the right one at the right time. Our data proves that when you give the right tools, employees will grab every advantage available.
- Personalised Perks: Not a one‑size‑fits‑all. Tailored bonuses or small gifts link directly to the individual’s life moments—a warm coffee after a long shift, or a “thank you” tree‑topping card for a caregiver service. That personal touch wins hearts.
When workers hand in their newly trimmed budgets, a company that offers genuine, thoughtful assistance feels both like a friend and a financial lifesaver. It shows the employer gets the present struggles of their staff.
Doug Butler, CEO of Perkbox, Says:
“People will soar to full advantage if we give them the right tools.” He means that your team will look at discounts as lifelines, rather than tacked‑together gifts, and feel that they’re supported without dropping a penny from their pocket.
In a time when prices rise faster than a snow‑flake, a little help from your boss might just be the chocolate on top of that holiday celebration.
Salaries aren’t just squeezed at Christmas
Inflation Is Hot, So Workers Are Scouting Discounts
Inflation has been stubbornly high in 2023, leaving many folks scrambling for ways to stretch their wages. The latest Perkbox metrics show that employees are turning to employer‑funded perks to help with their weekly grocery bills.
Perkbox Redemption Stats (Jan – Nov 2023)
- Sainsbury’s: +51 % increase in redemptions
- Tesco: +20 % jump in redemptions
- Aldi: +19 % rise in redemptions
Those numbers speak louder than the headlines – if you’re stocking up on veggies, toys, or that seasonal fashion, it’s time to check out what your employer might be offering.
“Holiday Catalyst” – Butler Weighs In
“The holiday period should act as a catalyst for employers to put initiatives and structures in place to support their workforces all year round. It’s clear workers will take advantage of employer funded support, especially around necessities such as their weekly food shops.”
Butler adds that businesses can kick it up a notch by rolling out a wide and varied selection of perks tailored to a diverse workforce.
Perkbox: The “Super Saver Week” Advantage
Perkbox has recently bumped up the discount playbook across a slew of retailers. Building on its “Super Saver Week” promos that already saved employees more than £20,000, the average user could see at least £200 saved on their yearly grocery bill.
Take the Fun Out of Saving
Picture this: you’re buying onions for spaghetti, and suddenly you’re saving money while the inflation thermometer keeps climbing. That’s a win-win, right?
Want to stay in the loop? Subscribe below to get real‑time updates directly to your device.
