May is traditionally the month of holiday pay. That is why Kieskeurig.nl conducted research into how it is spent. The annual bonus is spent by one third of the workers on what it is intended for:a well-deserved vacation. Yet a proportion also choose to put the money in a savings account (19%) and almost 1 in ten people use it to pay off debts and arrears. The amount, on the other hand, will be less likely to be spent on studies, refurbishing the house or supporting a good cause. Almost 9 out of 10 people (87%) make the decision on how to spend the holiday pay in consultation with their partner.
It is striking that people expect to spend their holiday pay less quickly than in previous years. In 2015, 27% spent the windfall within a month. In 2016, only 19% think they will do this in the same time frame. Recent reports about the end of the crisis appear to have little influence on spending behaviour. Both young people and the elderly indicate that it is not easier to spend the holiday pay of 2016 than in recent years.
