Over 70% of people set budget for Christmas, study finds

Michael Bolton

A new study has shown 71 per cent of people in Ireland set a budget for Christmas spending, but just as many (74 per cent) go beyond that amount.

The study, carried out by PayPal, found 25 per cent decided to miss their work Christmas party in order to extend their festive-period spending.

Despite worries over spending, 77 per cent justified spending over their budget, while 57 per cent said they hoped to have their Christmas shopping done by mid-December to avoid the frantic Christmas Eve dash to the shops.

The county with the highest number of people procrastinating when it comes to their shopping is Monaghan, where 50 per cent of respondents said they will wait until after December 20th to buy their gifts.

Offaly was next at 29 per cent, followed by Kerry (28 per cent) and Cavan (27 per cent).

The research found shoppers' biggest concern ahead of Christmas is delivery times, with 62 per cent stating they are worried when presents may arrive.

Overspending was a concern of 61 per cent, and 57 per cent said they feared being scammed.