May to be difficult period for Poles' wallets

The study of Poles' spending plans in May shows that they intend to spend the most money on communions, and then on the long weekend, Children's Day and finally Mother's Day.

"As part of the Provident Barometer survey, this year we asked Poles a question about spending in May. May is a special month in terms of spending. The first significant expense is a picnic, then we often have communions, Mother's Day, Children's Day and slowly we also think about holidays," Karolina Łuczak , a spokeswoman for Provident Polska, said.

"The most important expense for our portfolio is Holy Communion. Here, most of us spend up to PLN 1,000. In contrast, people who are involved in the organization of communion parties, and this is 9 percent of respondents, spend over PLN 5,000 for this purpose," she added.

Almost half of the respondents will finance communion expenses from current income, a similar percentage will reach for savings. 29.6 percent of respondents will be forced to take out a loan, with 18.7 percent asking family or friends for money, while 10.9 percent taking out a loan from a bank or loan company. Anyway, money is the most popular gift given during communion ceremonies. This year, 63.2 percent of Poles will donate them.

(Newseria)