Article preview: With Christmas fast approaching, spending habits are under the spotlight. New research from online bank Marcus by Goldman Sachs has found that 59% of UK adults feel pressured into overspending in social situations. The result of this social pressure to spend money is the average cost of £270 a year. Feeling pressure to overspend in social situations is the result of several factors. The survey found that people found it easier to go with the flow, didn’t want to appear ‘tight’, felt it wasn’t worth causing an argument, and were too polite to say no to friends.
Social pressure to spend money
This 1,054-word blog post explores social pressure to overspend, hurting our personal and financial wellbeing. Includes some tips to help avoid overspending during the festive season. Written on 4th December 2019.
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