More than half of people in Ireland say they expect to spend more than €500 on Christmas presents this year.
With less than six weeks to go, it has been revealed that almost nine in ten Irish households have no plans to cut back on Christmas spending this year. Most say they will spend the same, or more, than they did last year.
According to research carried out on behalf of Aviva Home Insurance, more than half of those surveyed said they blew their budget by as much as €200, while just three in ten said they had stayed within budget.
What about that present you get that you're not too hot on? Well, 45% of people asked admitted they have re-gifted in the past. Women are much more likely to do it than men, and Dubliners are the biggest offenders.
Parents spend an average of €297 on each child, while men plan to spend significantly more (€201) than women (€153).
Apart from gifts, the research found that Irish households expect to spend:
- €287 on food and drink
- €270 on socialising and Christmas events
- €183 on home decoration and Christmas outfits
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", she added.
