What Is Holiday Poverty
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06 August 2024
Holidays are often associated with joy and celebration, however, for some people, holidays bring significant financial stress and hardship
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Holiday poverty, therefore, refers to the economic strain experienced by low-income families during the holiday season
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This period often amplifies financial stress due to increased spending on gifts, holiday meals, and social events
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For many, the expectation to participate in festive traditions can lead to further debt and economic strain, making the holidays a challenging time rather than a joyful one
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According to a new study, nearly 40 million people, or 15% of the European Union's working population, face “holiday poverty”, the Fortune reported
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Families experiencing holiday poverty may struggle with basic needs as they attempt to meet the demands of the season
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This can result in skipped bills, increased debt, and heightened anxiety, the outlet said
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Combating holiday poverty involves a multi-faceted approach, including community support, charitable programs, and financial planning
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Organisations and initiatives that offer assistance with gifts, meals, and financial counselling can make a substantial difference
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Fostering awareness and understanding within communities can also help reduce the stigma associated with financial difficulties
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