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Dublin: 9 °C Wednesday 22 May, 2013

One quarter of Irish people ‘will be paying for Christmas’ in New Year

Only two out of five of us will be able to get through Christmas just on our regular income – although credit card use is set to drop, according to Irish credit unions.

Image: RTimages via Shutterstock

THE IRISH LEAGUE of Credit Unions has found that 25 per cent of consumers they surveyed expect to be still paying for Christmas “well into the New Year”.

The survey found that it takes the average person here two months for their finances to recover after the festive season – and that women stay out of pocket for longer than men. The average that respondents expect to spend this Christmas is €527 (in 2011, that figure was projected by ILCU members as slightly less, at €562). Santa presents will cost an average of €170 per child. (Poor Santa).

There is some good news though:

  • 58 per cent of us believe that Christmas will be enjoyable this year, even with our financial worries
  • Family and friends are the most important element of Christmas celebrations, 43 per cent believe
  • Three out of five people plan to do some Christmas shopping online because they believe they will find better value and choice there (45 per cent of respondents think prices on the high street are too expensive)
  • There will be a drop in the use of credit cards over Christmas 2012

What’s the average spend around the country?

  • In Dublin: €533
  • The rest of Leinster: €545
  • Munster: €517
  • Connacht: €488
  • Ulster: €520

The 35-54 age bracket will spend most money (€575), while 18-34-year-olds will spend an average of €455 and over-55s will spend an average of €512.

How will we finance our Christmas?

  • Regular income 42 per cent
  • General savings 22 per cent
  • Savings specifically for Christmas 19 per cent
  • Credit cards 5 per cent
  • Credit Union loan 5 per cent
  • Friends/family 2 per cent
  • Moneylenders 2 per cent

An interesting stat to come out of the survey is that 71 per cent of those surveyed think they will do their Christmas shopping – especially groceries – in the Republic of Ireland. That means that three out of ten will go outside of the Republic – the largest proportion (11 per cent) will go to Northern Ireland, 9 per cent will go to the UK, 5 per cent plan to do their main shopping elsewhere in Europe and 4 per cent plan a Christmas shopping trip in the States.

Read: Irish consumers will be highest spenders in Europe this Christmas>

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Comments (26 Comments)

  • what i do is put aside 10 euros a week, and also put any spare change into a jar, i sort all the spare change in nov, and whatever amount of money i have saved over that period is what my budget is..number one priority is bits for the kids, and a nice meal, i really wouldnt like to be putting xmas on a credit card, or having to take out a loan for it either

    Reply
  • Nice to see 18% can afford to go abroad to shop for xmas excl NI. Either stats are wrong or we need an Oscar for playing the poor Irish role. So confused .

    Reply
  • @jrbmc
    I have four children
    I’m more interested in keep a roof over their heads food on the table and heat for the winter.
    I well understand Santa I also understand that I have taught my children we don’t need to keep up with jones of course they will get gifts but I won’t be going into debt for them

    Reply
    • jrbmc 12/11/12 #

      I never said anything about getting into debt , I simply said that I’d you tell your child that Santa can’t afford a BMX (BMX was only an example of a present BTW) and the boy next door gets one , how do you think your child would react ? Do you think they ‘d feel like they had done something wrong Because he got one I didnt!!! But my point also is if your prepared to spend a €100 or more on a night out but think
      Twice about spending it on your child that’s where the problem
      Is ! Not Santa , they’ll complain about oh having to budget for Christmas presents and Santa but be sure their presses will be well stocked with beers, wine and spirits and probably nip to the local over the festive season aswell now you tell me where the sacrifice should come from . Santa ! I don’t think so….

      Reply
  • Many are still paying for last Xmas

    Reply
  • People need to cop on and not borrow for Christmas if they do and they are still paying for Christmas in the new year they have no one to blame only themselves
    Christmas doesn’t have to be about money

    Reply
  • Bah! Humbug! Scrooge was right ?!?!

    Reply
  • well said arbitrasure and Roman couldn’t agree more i have a 4 yr old who wants Santa to bring x y and z but they cost a fortune so he’ll be getting a cheaper alternative that Will do the same job he knows that’s just how it is and hasn’t been complaining about it

    Reply
  • @Arbitrasure Well said.

    Reply
  • This is more a story of household budget stupidity than poverty.
    “Santa presents will cost an average of €170 per child”

    Some real belt tightening going on around the country alright. €50 is sufficient.

    Send €100 to SVdP instead if you’re happy to waste money on plastic crap for the kids.

    Reply
    • jrbmc 12/11/12 #

      I’m presuming you don’t have kids otherwise you would realise that if you tell a child that wants let’s say BMX off Santa , that Santa can’t bring it cause it costs to much and on Christmas morning the child sees the kids living across the road with a new BMX each how do you think it will affect the child?? I understand what you trying to say but it doesn’t work like that in regards to Santa .

      Reply
    • jrbmc 12/11/12 #

      Don’t spend €100 on plastic crap for kids as you put it , but it’s ok to go and piss it up against the wall one or two
      Nights a week instead .

      Reply
    • I do have kids and yes, not being lavish with the cash does work.

      Hard-wiring your kid’s brain to believe they have to have, and will have, the BMX because the other kid has one, and you chose to deliver it, is simply lazy parenting. All your kid learns is materialism and that making demands will be met. That sets them up for an envy mentality later in life, rather than finding happiness through other means. I don’t mean no presents, I mean moderation.

      The bigger you make Santa, the more the kids expect. You are shooting yourself in the foot if you keep yielding to their demands. €170 is ludicrous for Santa presents. I assume the parents will also have to buy presents, and the kid will probably get stuff from godparents, grandparents etc etc. You’re talking about €400 or so of presents there, all totted up. Time to consider a Kris Kindle approach and everyone clubs in to buy one decent present for a total budget much much less than that.

      Next thing you are going to tell me is that it is humiliating if your child can’t arrive at their communion in a stretch Hummer.

      Reply
    • ?50……are you having a giggle….I wouldn’t like to see your kids faces Christmas morning ……have you see the price of kids toys?

      Reply
    • @jrbmc,

      I had that scenario in my childhood. But in my house, we were aware of money issues – no pretense was kept up that money was plentiful, and so we didn’t complain too much about what the kids down the road got. And the kids down the road never laughed at us or mocked us for our more modest presents. We still got great presents, don’t get me wrong, and they would be in the area of what we wanted, just never big ticket items like bikes.

      Santa works exactly how you want him to work. I had it explained that Santa has a lot of kids to see, some in very poor countries so we shouldn’t be greedy, and that some parents added to what Santa gave.

      Your christmas spend should be proportionate with your income, not with the spend of the Jones’ up the road.

      Reply
    • I think it is a duty of all parents to moderate the gifts that are given to their kids, particularly in this climate.

      Even if you can easily afford it, there will be plenty of other kids in your kid’s class at school, or on your street, whose parents are struggling. Your little Sebastian the III, arriving into school on their new Segway just makes the other poorer kids feel bad. Unless of course, you want to send that message about how well you are doing…

      Don’t feed the capitalist monster at Christmas.

      It is in no way a necessity that you spoil your kids. We all knew the brats in our class when we were kids who had everything. It didn’t do them any good when they were older. Their being popular because they were spoiled was not a lasting thing.

      Reply
    • Consider also the looks on both the kids’ faces when the bailiffs come round and seize the bike after the parents fail to keep up the payments.

      Reply
    • jrbmc 12/11/12 #

      Ba humbug Scrooge !!!!

      Reply
  • @jrbmc
    To be honest if your child is stressing about what the kids have next door I think you have a problem
    And I don’t buy drinks ahead of the important thing like food heat paying for my house if there’s anything left over it pays other bills I’m living on a very tight budget so I have to do my best just as anyone has to I’m sure there are many others like me

    Reply
    • jrbmc 12/11/12 #

      It not about what the kids next door have its about what Santa brings on Christmas morning !!!! Hello has the penny dropped yet !!!! The point I was making to the other person was you try and explain to a child why Santa couldnt bring a particular toy cause its too expensive but the boy next door gets it fro Santa and why Santa only brought him a present worth €50 and the boy next door €150 do you understand my point !!

      Reply
  • Ya yet the bankers and the government can comfortably spend €100,000 for Christmas presents and still live very comfortable for the next year.

    That money would get me a house nd I’d b happy, never mind spending it in one month. Absolutely RIDICOLOUS and I cannot understand why there is no uproar over the RIDICOLOUS wages the government and bankers are treating themselves to whilst telling the people of ireland they need to tighten their belts!

    Reply
  • Sorry about the duplicate there in the comment

    Reply
  • jrbmc 12/11/12 #

    I’m not disputing that some people have to budget , but some make a big deal of it at Christmas but squander for the 11 other months of the year. I not say you do , you have said you need to pay house hold bills etc… As we all do but some people just comment on here and talk foolish cause they don’t know better

    Reply
    • I understand what you are saying but the whole thread was about debt wasn’t it ?
      Either way wasn’t the thread about debt ??
      Anyway i dont comment here to argue and You and I have a good Xmas no matter what

      Reply

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