An Irish study has found that the majority of people are making amendments to their Christmas plans this year as the current levels of inflation continue to have significant repercussions.
Allianz Ireland found that a whopping 87% of the Irish population is feeling the pinch this year as energy, grocery, and fuel bills continue to soar.
The report shows the increased cost of living will have an “enormous” impact on the festive season for 18% of respondents, a substantial effect on 25%, and some ramifications on 42%.
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Just one in ten said they believe their Christmas will be unaffected by the rising costs.
So, with prices consistently rising, many are looking to cut costs around presents with less than two in five, or 35%, saying they will spend over €500 in total this year on friends and family.
To help alleviate those festive fears around spending during the holidays, Allianz has listed its tips and tricks to save money while still spreading Christmas joy this year:
Plan Ahead
Grocery stores are already stocked full of Christmas food and snacks, and many have generous offers and deals.
Do your research and plan what exactly you need for over the Christmas period to avoid over buying and overspending. Pick up your non-perishables now to divide up the cost of a large Christmas shop.
Reduce Gift Buying
We all love the joy of giving and receiving gifts, but this can be daunting for those with a large extended family. Have open and honest conversations with your loved ones this Christmas – remember we are all feeling the pinch and you are not alone in your worries.
Secret Santa is a fun, exciting, and cost-effective way to share the love without blowing the budget and a way for families to come together without financial fears.
Festive Deals
Shop around for the best deals – check websites, individual bargains in different shops and club card offers. With consumers spending large amounts on Christmas gifts, it can make all the difference to do your research and find where the price is right.
Save on Delivery Costs
If you’re choosing to shop online, shipping costs can add up. Make sure to check which e-stores offer free delivery to avoid being burned or bulk up on shopping to hit a minimum spend limit.
Another good tip is to check out the ship-to-store option, which is usually free and a great option for if you’re out and about in town.
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