Blue Monday, the third Monday of January, is considered the most depressing day of the year.
The festivities of the Christmas period have come to the end, it’s cold, it’s dark, your New Years resolutions may already be unraveling, and on top of all that, bills are due. It’s a depressing combination and recent data released by our client The Money Platform indicates that Brits are indeed feeling the squeeze post-Christmas.
The data released speaks directly to the financial strain the Christmas season can put on UK families. Loan requests to platform increased by 100 percent in the first week of January when compared to the first week of December. Thirty six percent of those borrowers required money for a household emergency, such as a faulty boiler or frozen pipes. After Christmas bills, Brits are finding it difficult to afford winter home woes.
Read more about The Money Platform, the only FCA accredited P2P short-term lender, and their research in the coverage:
- Payday loan requests double in first week of January in P2P Finance News
- Blue Monday hits nation’s finances in MoneyFacts
And in print on CityAM:
The Money Platform also shared a stat relating to the day on their Twitter account.
— The Money Platform (@TMPlatform) 13 January 2017