BETWEEN AN OUTFIT for the child, outfits for the rest of the family, entertainment for the children afterwards and other costs, parents are spending an average of €929 on their child’s Communion day, according to a new survey from Ulster Bank.
Ulster Bank said that, according to its annual survey, spending by parents for their child’s Communion is at its highest since 2011.
A child’s Communion outfit is costing an average of €218, which is an increase of €56 on last year’s survey.
Spending on a party and refreshments amounted to €357 on average, while entertainment for children costed around €119.
For girls, getting their hair and make-up done cost an average of €41.
The survey of 175 parents, 41% of them said there is pressure to spend as much money on the day as other parents do. Over half of parents thought so last year.
The kids, themselves, meanwhile received an average of €617 for their first holy Communion this year. A quarter of children received more than €800.
On average, girls (€646) received more than boys (€587). Just over six in ten parents (62%) think that their child received too much money.
When it comes to spending all that money, four in five children put some of the money into some form of savings account.
The most likely purchases with the money are toys, clothes and computer games.
Over 90% of parents said they used savings to fund Communion expenses, with 5% of people taking out loans to help meet the costs.
Ulster Bank’s head of corporate affairs Elizabeth Arnett said: “It’s important for children to learn good habits from an early age, not least when it comes to spending and saving money.
As most of us are well aware, Communion is the first time that many children end up with a large amount of money, and a burning desire to spend it. But we believe that it is also the perfect opportunity for parents to teach them the importance of financial planning as a life skill.
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