1 in 3 Brits expect financial strain by the end of January

Nearly one in three Brits believe they’ll run short of money before the end of this month.

According to research by Intuit Credit Karma, 32% expect funds to start running low this month.

More than half of these people believe their money will run out by January 15th and that they’ll have to rely on funds separate from their income to make it to the end of the month.

Worryingly, this specific tipping point has arrived earlier this year.

When the same study was carried out 12 months ago, January 20th was named as the date when people expected to run out of money.

Christmas spending increased in 2024

This shift could reflect the fact that the recent festive season was more costly than before for some.

In fact, 23% of those surveyed said they’d spent more over Christmas 2024 than they had in previous years.

This will have added to the pressure many people face after receiving their December pay packet early and having to make this money last for longer.

What are people doing to make ends meet in January?

Many people are taking a pragmatic approach to get on top of their finances and spending less on luxuries and non-essentials.

For example, nearly one in three said they’ll avoid socialising this month to boost their finances.

Set a budget

As the cost of living continues to go up and expenses come at you from all directions, it’s more important than ever to set and stick to a budget.

It’s easier than ever with our free budget calculator, so you can prioritise your spending, save for future goals and regain a sense of control over your money.

If you’re struggling to make ends meet, then don’t suffer in silence, as we’re here to support you.

We offer free and impartial advice and can: