Barclays customers are waking up to a £57 bonus in January – if they stave off alcohol. 35 per cent of Brits plan to participate in ‘Dry January’ this year. Of this group, two fifths (40 per cent) are trying to be healthier, Barclays has found.
The data from the bank shows one in five (22 per cent) want to reduce their spending on alcohol. Those taking part anticipate saving £57.70 each on average. One in four (24 per cent) are planning to give ‘Veganuary’ a go in 2025, with health once again emerging as the top motivating factor, chosen by 34 per cent of those participating.
A quarter (26 per cent) also say they’re trying to eat fewer processed foods. Health and fitness is high on the agenda for those making New Years resolutions more broadly, chosen by 31 per cent of this group, the high street bank has also discovered.
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Financial wellbeing is also a clear priority; over one in four (27 per cent) of those setting goals for 2025 want to save more each month, while 24 per cent plan to cut back on takeaways, Barclays said – as it issued its consumer card report for the first month of the year.
Karen Johnson, Head of Retail at Barclays, said: “Consumers demonstrated their ability to carefully manage their money once again in December, finding ways to save while still sprinkling in some cheer, setting aside funds to treats themselves and loved ones over the festive period.
“Brits are also planning to prioritise memorable moments in 2025, with travel emerging as a clear spending priority. Health is also held in high regard; those making New Year’s resolutions will cut back on pub trips, but spend on healthier alternatives to nights out.”
Jack Meaning, Chief UK Economist at Barclays, said: “As 2024 closed, consumers remained cautious, in line with muted confidence, elevated uncertainty and high rates of saving. In 2025, we expect household consumption to grow by less than 1 per cent, ahead of further interest rate cuts from the Bank of England over the course of the year.”