May is traditionally the month for holiday pay payouts. To uncover spending habits, Kieskeurig.nl surveyed workers on their annual bonus usage. One-third (33%) put it toward its intended purpose: a well-deserved vacation. Meanwhile, 19% choose to save it, and nearly one in ten (10%) use it to clear debts and arrears. Spending on education, home renovations, or charitable causes is far less common. Strikingly, 87% make these decisions in consultation with their partner.
Respondents expect to spend their holiday pay more cautiously than in prior years. In 2015, 27% spent it within a month; in 2016, just 19% anticipate the same. Reports of economic recovery have little sway on behavior. Both young adults and seniors say parting with 2016's holiday pay feels no easier than before.
