Christmas is an expensive time of year, what with all the presents and the mountain of food you have to get in.
This year, over half of Irish households are expected to spend more than €500 on gifts for their loved ones.
A survey, conducted on behalf of Aviva Home Insurance, found that we as a nation have no intention of cutting back on our festive spending.
Last year, half of those asked said they exceeded their budget by a whopping €200 and this year more than that expect to splash out over €500.
Via imgur.com
But not everyone is into hitting the shops for the perfect present, 1 in 2 said they have re-gifted things they have received with almost a third admitting to doing it more than once (*views friends suspiciously*).
Unfortunately for parents, last year Irish adults spent an average of €289 on kids alone.
The same amount is expected to go towards food and drink (arguably the most important items – can’t do much if we’re not fed and watered!).
Via giphy.com
Speaking about the findings Sharon Treanor, of Aviva Home Insurance, said: “It’s no surprise that, despite our best intentions, the majority of us tend to go over budget at Christmas.
“Following an encouraging budget in the past month, consumers are expected to loosen the purse strings a bit more this Christmas.”
While we predict that we will probably spend more than planned (again), here are a few tips that might help you keep to your budget…
- Make a list – We love lists. We make one before we hit the supermarket. We make one when we get into work. We even make one for what we have to put in our handbags before we leave the house. Lists are helpful in keeping track of what to buy who. The only thing is you have to stick to it.
- Use cash when shopping – While we don’t advise carrying a giant wad of cash around town, we do recommend going out a number of times and taking small chunks of cash. When you are buying presents with your card, it’s too easy to lose track of what you’re spending.
- Look out for bargains – Every year there are great Christmas deals on offer so keep an eye out for those. Also, don’t rush into buying anything. If you reckon you could get it cheaper elsewhere, look elsewhere. Do your research and you’ll reap the rewards.
- Take someone with you – Be it your mother, your sister or your other half, drag someone along to keep you and your purse in check. When you’ve only yourself to debate with, it can be hard to see the other side of the argument (that being the broke side).
- Secret Santa – If you don’t want to be forking out loads of money on lots of gifts for all your relatives and their pets, suggest a Secret Santa draw. If you’re buying for a couple, get them a joint gift. Being savvy is the key to saving.
