Retail Ireland finds Irish households will spend €720 extra in December
Do you think you'll be among the households splashing out this Christmas?
Earlier this week, Retail Ireland published its Christmas Retail Monitor 2016, which predicts the Irish household will spend an average of €2,587 this December. This is €720 more than any other month of the year, and €26 more than Christmas 2015.
You may think this seems excessive, but when you consider everything you have to buy this month - like presents, Christmas dinner, chocolates, drinks, decorations, and clothes - that €720 wouldn’t be long adding up.
And that’s before you even take into account any nights out in the pub, Christmas parties, or dinners with friends.
What can I do to cut down on Christmas spending?
There are a few things you can do to cut down on your Christmas spend, for example:
- Make a list of all of the presents you need to buy, along with a budget for each item, and stick to it;
- Suggest a Kris Kindle with family or friends, rather than buying individual presents for everyone; and
- Be realistic in terms of how much food and drink you need to buy - there’s always a lot of waste around Christmas, so try not to buy more than you need.
Other ways to save around the home
In the meantime, the biggest way to save is to make sure you regularly shop around and switch providers for household essentials like broadband, TV and phone, motor insurance, home insurance, and gas and electricity.
The average dual fuel customer can save up to €335 by switching from standard tariffs to the cheapest deals on the market - and that could go a long way towards covering Christmas expenses next year.