Jack Frost may be nipping at our noses this Christmas but it seems expensive gifts and festive luxuries are not on Santa’s list this year.
According to The Irish Times, consumer spending will drop this Christmas but the average Irish adult will still spend over €500 this holiday season.
The Irish League of Credit Unions predict that the average person will spend €527 this Christmas compared to €562 in 2011.
The newspaper also reports that Santa is also feeling the pinch this Christmas and will be spending an average of €170 per household on presents for Irish children.
Santa and the elves will be forking out an average of €170 per household this Christmas
Christmas is a difficult time for families who are already struggling with the cost of day-to-day living and eight in 10 Irish people are already worrying about their financial situation for the New Year.
Mandy Johnston of the credit union league said people needed to remember “that Christmas really is about giving . . . not robbing the family finances”. She warned people to avoid “moneylenders and consider that if you cannot afford to pay for something without a loan, you cannot afford it.”
