Irish parents now spend over €900 on their child's Communion 1 month ago

Irish parents now spend over €900 on their child's Communion

Communion spending in Ireland has reached an eight-year high.

Parents now drop an average of €929 on their child's First Communion day, a survey has found.

That's up 8% or €69 from last year's average of €860.

Party food and drink is a big cost, with mums and dads forking out an average of €357 to make sure guests are fed and watered.

They now spend €218 on their child's outfit for the occasion, up from €162 in 2018.

Parents also part with €195 for clothing for other members of the family.

Grooming for girls is another cost, with people now shelling out €41 on average for makeup and hair styling.

One area that parents are now spending less on is entertainment. The average spend for this is €119, down from €161 last year.

There's been a drop in the number of people who say that they feel pressure to spend as much money as other parents.

Just 41 per cent of respondents said that there is pressure, compared to 53 per cent in 2018.

"It’s important for children to learn good habits from an early age."

Children now receive an average of €617 for their First Communion, with almost a quarter of kids receiving €800 or more.

Two thirds of parents surveyed thought that their child got too much money while 19 per cent think the child should contribute to the cost of the day.

Nine out of 10 said they spoke to their child about their Communion money and how they should use it.

The majority (81 per cent) said some of their child's money would be going in a savings account.

"It’s important for children to learn good habits from an early age, not least when it comes to spending and saving money," said Elizabeth Arnett, Head of Corporate Affairs in Ulster Bank.

"But we believe that it is also the perfect opportunity for parents to teach them the importance of financial planning as a life skill."

The survey was commissioned by Ulster Bank for its MoneySense schools programme.