do you spend your holiday money on tech?

The month of May is traditionally the month of holiday pay. In that case, you will receive an extra payment on top of your monthly salary of around 8 percent of the annual salary. We are curious what you spend that money on. Spending it on a new phone or headset? Or do you put it aside?

Holiday pay

Most employers will transfer the holiday pay into your account in the month of May or June. The holiday pay is actually a savings account that the employer builds up for you and pays you out in one lump sum in May or June. The original intention of this amount is that you spend it on a holiday or weekend away. Yet many people also use the amount for other purposes, Nibud knows. Nibus is an independent knowledge and advice center in the field of household finance.

Nibud regularly conducts research into household finances, including the use of holiday pay. This year, slightly more Dutch people are using their holiday pay to close financial gaps. Current high inflation plays a major role in this, as many products and services have become more expensive. A lot of people are currently short of money every month and are using it as a bonus in May to pay bills.

Nibud regularly conducts research into holiday pay and what the Dutch spend it on. The latest research before the corona pandemic (2019) showed that most people still use their holiday money for what it is intended. However, since 2015 we have seen a (slight) increase in the use of the holiday allowance for paying off debts or payment arrears.

AW Poll

What do you spend your holiday money on? Do you donate part of your holiday money to smartphones, smartwatches, headphones, smarthome and other tech? Don’t forget to check out these offers! Are you using vacation money for your upcoming vacation? Or for paying bills?

Cast your vote in the poll and tell us more about your holiday pay in the comments.