We're all broke in January

January is putting financial pressure on many of us.

According to a new representative survey by Comparis, more than a third of the population spends less money at the start of the year, hit by what is known as the “January slump.” 

The problem is not Christmas shopping, but major bills such as taxes, insurance and transport subscriptions. 

Young adults and families are most affected, particularly those on lower incomes. 

Comparis advises households with sufficient means to use January discounts to pay annual expenses in advance.

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