The January cost will be noted in the savings

The holidays are over and luckily for the family economy expenses related to Christmas. December is for many households a month in which money seems to fly and therefore in January it is necessary to face the dreaded January slope. It is important to adjust the belt and decide between what is essential and what can perhaps wait until the portfolio is recovered a little.

What are the spending items that families sacrifice the most? At what points is less money invested during the January slope? About this is the study X-ray of Consumption in Spain 2017 that the Fintonic application carries out and where it is reflected that the beginning of the year is a time when leisure receives less investment in homes.

Less exits: the victim will be family leisure

The data from this study indicate that the January slope has a very clear victim: leisure. The families of Spain reduce in a 29% the expenses of this departure and in 25% the investment in restoration, that is to say exits to eat out of house or stays in hotels. Between 107 and 70 euros is the amount that households save with this decision during this month.

This report indicates that families also they watch closely the expense they make on their vehicles. Proof of this is that it is estimated that the average cost of fuel and maintenance of the cars is at 90 euros during January, which means 22% less than in the previous study.

On the other hand, the expenditure that does increase is that destined to fulfill the purposes of the new year. This study shows how the game to pay the gym fee has grown 15% compared to the previous data. Some 39 euros on average it is what each household will allocate in this sense.

Less saving: hurry to make ends meet

Although the January slope is a reduction in some household expenses, it should be noted that last 2017 was not the year of savings for Spaniards. As indicated in the report Non-Financial Quarterly Accounts of the Institutional Sectors prepared by the Statistics National Institute, INE. A work in which it is reflected that the saving in the families of Spain has been reduced from one year to another.

The data offered by the INE indicate that in the third quarter of 2017 the gross income of Spanish households was 165,387 million euros, an increase of 1.3% over last year's numbers. However, the families of this country also spent more than last year, specifically 166,138 million euros, which meant an increase of 3.5%.

That is, the Spaniards spent more than the income they received. This translates into a negative savings rate of -0,7%. Considering the annual rate, this remains at 6.1%, 0.5 points less than in the previous year at this time. Although it is usual for the last quarter of each year to record a smaller amount of money destined for this purpose for Christmas expenses, this is the first one that registers a figure below zero.

The third quarter of 2016 implied a rate of saving 1.5%, which meant that households kept part of their income in the face of future expenses. This 2017 was a result of -0.7% in this regard. At the annual level, 6.1% is very close to the 5.9% registered in 2008, year in which the beginning of the crisis could explain that families allocate a smaller amount of money to this end.

Damián Montero


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