Holiday Financial Strains Lead to Credit Use; New Tax Reporting Rules for Monetary Gifts in 2026

A recent study reveals significant financial pressures on French consumers during the Christmas season, with nearly 4 out of 10 (41%) relying on loans or personal savings to finance holiday gifts. The survey of 2,000 participants conducted by Flashs for Ymanci found that 59% of French people worry their gifts may seem "too cheap," reflecting strong social pressures to please others, as 84% expressed a desire to bring happiness through gifting.

Despite nearly 60% financing their purchases with available funds, 22% experienced monthly overdrafts, highlighting widespread financial stress. Confusion about credit types is common: while 51% correctly recognized renewable credit, only 27% understood that an overdraft is legally a loan, and 68% made at least one incorrect identification. Nearly half of respondents (48%) used money received after the holidays to stabilize their budgets, and 21% resorted to selling gifts to alleviate expenses.

In a related development, starting January 1, 2026, new French tax regulations will require beneficiaries to digitally declare certain manual gifts and monetary sums, depending on circumstances and amounts gifted. Although Christmas and birthday gifts are generally exempt from donation rules, these new online declaration obligations introduce fresh compliance considerations for holiday giving in France.