CFA: Over a third of Romanians spend more than usual over the holidays, 60% exceed budget

Around 39% of Romanians spend more than usual during the holiday period, starting with Black Friday, and the percentage increases especially during the winter holidays, when 6 out of 10 exceed their planned budget, according to the “Financial Seasons Barometer,” an iVox Research survey ordered by CFA Romania.

The research shows that although impulsiveness manifests itself in purchasing decisions, Romanians also show signs of financial discipline: they check prices, compare offers, postpone purchases, and set budgets for discount periods.

According to the survey, 64% of Romanians admit to making spontaneous purchases during discount periods. Although 44% of respondents say they always check the price history before buying, only 22% always set a budget before making purchases.

“The study results show us that although Romanians make spontaneous purchases, a representative portion of them also display financial planning behaviors, such as checking prices, setting a budget, or postponing purchases until discount periods. These observations confirm for us the importance of financial education initiatives that support people of all ages in making more informed and responsible decisions,” said Florentina Almăjanu, General Director, CFA Romania Association.

Generation Z shoppers are more sensitive than the rest of the population to personalized offers in the online environment. More than half (53%) say they sometimes respond to such stimuli, compared to 43% of the general population.

At the same time, Gen Z youth are also the most disciplined in planning their purchases, and 62% intentionally postpone purchases until discount periods, compared to 47% of the general population. Additionally, 31% always set a budget before shopping, nearly 10% above the national average.

Over 20% of respondents made seasonal purchases exceeding RON 2,000 (EUR 400) in the past 12 months, and exceeding the planned budget is a frequent phenomenon. Only 35% say they managed to stay within budget or exceeded it rarely.

Expenses are mainly covered from savings, with 49% of Romanians saving specifically for these occasions. Current income represents the second source, mentioned by 39% of respondents, while 17% resort to credit, and 16% use “buy now, pay later” solutions.

Asked how they feel when they choose not to buy something that seemed tempting, 30% of respondents said they feel more self-controlled, while 35% feel balanced, unaffected by temptation. Only 15% admitted they feel they are giving up a small pleasure.

The data presented in the Financial Seasons Barometer were collected through the CAWI (Computer Assisted Web Interviewing) method, using the online iVox Research platform. The sample includes 1,130 respondents from Generations Z, Millennials, and X, mainly from urban areas, providing a relevant picture of financial and consumer behavior during seasonal periods.