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The financial pressure of winter bills and festive spending will hit hard this month, with a third (35%) of people expecting to be short of cash before the end of January, a new survey shows.
For many people, this stress manifests itself more quickly.
Of those facing a cash shortage this month, the majority (51%) expect to use up their monthly income by Thursday, January 15.
This is approximately one in six of all UK adults.
The research, for money platform Intuit Credit Karma, also found that one in seven (14%) people plan to buy a new credit product this month, aiming to close the gap and prevent further debt.
Credit Karma’s platform data shows that January 8 is the most popular day to apply for credit products in 2025.
Eleonore Hajek, head of product for the UK and Canada at Intuit Credit Karma, said: “The New Year is often a time when people take stock of their finances, but for many this time of reflection can quickly turn into worry, especially around mid-January when the reality of holiday spending and longer time between paychecks kicks in.”
She said those considering a balance transfer card should make sure they understand the terms and have a clear repayment plan “so January becomes a turning point rather than a stress point”.
Opinium Research surveyed 2,000 people across the UK in December.