this Salaries are no longer enough. Despite the measures taken by different administrations to mitigate their impact, the significant increase in prices of most products is starting to take effect. more than a significant impact on most families’ budgetsIt turns out to be a little more intense in the case of the Valencian Community.
especially, until 86% of households in Alicante, Valencia and Castellón they guarantee that they are already suffering the consequences Inflation is four percentage points above the national average, according to the European Consumer Payments Report by Intrum, which specializes in credit management and collections and also owns real estate company Solvia.
a situation that causes 64% of those interviewed has started or is planning to take it. changes in the way you manage your spending monthly to face the loss of purchasing power they suffer. And as expected, the first thing that suffers is social life.
So, until 63% of those interviewed autonomy, it will reduce or He has already started to limit eating out with friends or family. and other types of leisure activities, a higher percentage than registered nationwide, with 58% of families considering this option to balance accounts and reach the end of the month.
Likewise, up to 62% of Valencia Community residents state that: increased their purchases from discount stores, where the private brand dominates, to the detriment of buying leading brands. In this case, the difference with the rest of the country is no less than 11 percent, indicating greater concern in the autonomy about the consequences of inflation.
cheap gifts
There is also bad news for Santa Claus and the Three Wise Men: 46% say they will spend less on gifts this yearFor family and friends (45% nationwide), you will no doubt be noticed on the checkouts of many stores this Christmas.
As it makes sense, if money is less valuable, there are many who try to flex their money by looking for offers, a practice that 35% of those surveyed by Intrum already claim to do so.
But things don’t end there, because inflation is starting to affect the open bar, which seems to exist with subscriptions. television platforms Internet and similar services. To be specific, up to 32% of respondents point to the cancellation of one of these subscriptions as another of the austerity measures he designed.
On the contrary, only 11% plan to reduce their donations and collaborations with NGOs and only 8% will cut back on their savings, but on this last point it should be taken into account that there is, on the one hand, a high percentage of the population that has already failed to save anything. End of the month and this, in times of Uncertainty, those who can afford to put money in the piggy bank tend to keep larger sums by anticipating what might happen.
“As our report indicates, one of the most important effects of the increase in prices is reduction in consumptionthis will be reflected in commercial activities and therefore in the growth of the economy. In this case, financial education becomes even more important if possible; Let’s not forget that four in ten Spaniards say they don’t have enough education to manage their personal finances in the current environment,” says José Luis Bellosta, managing director of Intrum Spain.
In line with this, another important piece of data from the research is that up to 66% of the community surveyed (62% nationally) confirm that under current conditions where prices are increasing, this happens when someone notices it. How much money do you spend on things you don’t already need?
defaults
Rising inflation rates limit the ability of families to pay, causing more concern for the future. Despite the correction made in expenses, the survey results show that, 31% of Valencians (21% in Spain) not paying any of your bills on time during the last 12 months. The main reason is, in most cases, not having enough money at the time to cover the payment (56%); this is a reason similar to Spain’s with 48%.
These numbers may increase in the coming months, as 41% of consumers in the Community of Valencia guesses that if energy price, you can’t pay the bills there is a belief that the corresponding game is 28% in Spain, which places us 7 points below the European average (35%).