Especially younger people

Almost every second person wants to save Christmas money

More than four out of ten Austrians surveyed plan to save their Christmas bonus this year. This is the result of a recent Integral study. Younger people are more likely to want to put the money aside than older people.

Just under a quarter of young respondents want to invest the money, while a small proportion (seven percent) want to invest it in education. "In the area of tension between continuing economic uncertainty, there is a trend towards cautious consumption and increased saving", Deniz Bank AG announced in a press release. It commissioned the study from the opinion research institute Integral, which surveyed 1002 Austrians between the ages of 16 and 75.

According to the survey, a total of 43 percent want to save their Christmas bonus. Around one in five people (19%) plan to use the money for current living expenses or to pay off debts. 

Amid the ongoing economic uncertainty, there is a trend towards cautious consumption and increased saving.

Deniz Bank AG

"Six out of ten say that the Christmas bonus helps them to cope better with unexpected expenses. Just as many consider it a good way to save money for the future," it says. For many, it is "an important additional income", said Petra Starecek, head of the Integral study.

One in ten consider their financial situation to be very good
Those with a high household income, on the other hand, are more likely to spend their money on vacations and travel. The financial situation is considered best if the household income is more than 4,500 euros. Overall, around one in ten people surveyed (11%) consider their current financial situation to be very good, while one in three (33%) still consider it to be fairly good. This mainly includes men, people with a high level of formal education and multi-person households.

45 percent can afford gifts
Incidentally, 42% of respondents want to spend their money on Christmas presents. Slightly more (45%) said they would be able to afford them thanks to the Christmas bonus. "Our study on Christmas bonuses gives us an insight into the current behavior of the population in Austria under the current economic conditions," says a spokesperson for DenizBank AG.