The days before the most wonderful time of the year are when most of us lose the run of ourselves and when many of the careful pre-Christmas plans falls apart.
As the volume of festive music intensifies, we panic and buy more and more “stocking fillers” – sometimes spending more than we have on stuff that is likely to be of little use to anyone. And as soon as we hit the grocery shops on December 23rd we go wild in all the aisles.
And we are already spending more than we did last year. According to research from Bank of Ireland published last week the early days of December showed a spending bounce of 30 per cent when compared with 2023, with 36-to-45-year-olds spending the most.
Spending on beauty products, incidentally, is up 96 per cent, with spending on electrical items climbing by 56 per cent, clothes up 25 per cent and toyshop spending jumping by 17 per cent.
Have yourself a merry last-minute Christmas. Shop early and forget perfect
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The research also noted that the biggest Christmas spending day in last year’s Christmas period was December 22nd, with spending 20 per cent higher than on Black Friday and 90 per cent more than on Cyber Monday. The Big Shop – unsurprisingly – happened on December 23rd.
With so much money still to be spent, we thought we’d prep a Pricewatch primer to help you get through the next 10 days or so without going into too much debt.
And speaking of debt, there will be a great many people who will go into it between now and the end of the year.
Last week, research from the Competition and Consumer Protection Commission (CCPC) suggested that the cost of an Irish Christmas will climb by an average of 14 per cent this year, with one in four Irish consumers anticipating spending more than they did last year, with rising prices and pressure to buy more gifts cited as the most common reasons.
Although most people say they will use savings to pay for Christmas, one in five consumers will go into debt as a result, with the borrowing averaged at €631.
The research also highlighted how long people will take to clear that debt.
Just under half of those who will borrow this year say they will be back on an even keel by the end of January, while almost a third said it would take until after St Patrick’s Day. Some 18 per cent said they would pay back the festive debt over the next 12 months. The CCPC said it was worrying that 5 per cent “have no idea when they might be free of Christmas debt”.
“We encourage consumers to plan their spending where possible to avoid being left with a financial hangover in the new year,” said the CCPC’s Grainne Griffin. “Don’t ruin January by spending what you don’t have this Christmas.”
The consumer watchdog put the cost of Christmas at just over €1,400 but the Pricewatch tally suggests it is much higher and when we totted up all the costs that many families face, the price of an Irish Christmas will come in at just under €2,500.
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Here’s how to keep your spending to a minimum (and yes, we know we have highlighted some of these tips in the past but you can’t remind people enough of the importance of not shopping hungry and making lists, right?):
1. As the Bank of Ireland research noted, most people will do their big Christmas shop on Monday December 23rd. If you are one of them, eat a hearty meal before you go and remember you are only shopping for four days. Did we mention the importance of shopping with a list? We did? Oh, right. Well, do it.
2. Be mean in the treat and the festive aisles. Retailers make loads of cash by selling things you would normally never buy at prices you would normally never pay. Do you really need to spend 70 quid on a Camembert and cranberry thing carved into the shape of a pine tree just because it is Christmas?
3. When it comes to presents, it’s too late to shop early in the year but it is not too early to shop early in the day. Go shopping between 9am and 11am to make your gift grabbing easier. Draw up a list (again with the lists, right) of what you need to get and buy the most important presents first. It takes the pressure off. As we said, don’t spend too much on stocking fillers – there are bad for your wallet and bad for the environment. And while they might all cost less than a tenner if you buy 20 of them you are on a seriously losing streak. So unless they are perfect don’t buy them.
4. While shopping with a list is key, shopping with an open mind is also essential as you might happen upon a perfect present that you hadn’t thought of.
5. We’ve used the word perfect twice there. And we are sorry about that. Media platforms and marketing agencies are forever talking about a “perfect Christmas”. There is no such thing and we spend too much money chasing it.
6. Do not just wander into town and hope the inspiration will hit you – it might but then again it might not. Online retailers might give you some inspiration and idea of how much you are likely to spend.
7. Work out how much you are able to spend over the next 10 days and stick to that budget.
8. Take a note of what you are spending. Many Irish banks don’t accurately reflect your spending over the Christmas period until they start to reopen – and this year that won’t be until December 30th at the earliest and that might be the day some panicked purchases done just before Christmas are taken from your account.
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9. Regifting is a great way to save – and it is better for the planet too – but don’t regift to the people who gave you the gift in the first place. If you have any doubt, leave it out or, you know, ask people to remind you what they gave you in times past – but it a subtle way, like.
10. Give some serious thought as to when you are seeing those who you are buying for. Some presents will be exchanged before Christmas, many will be exchanged on Christmas Day but some will not be given or received until later this month. Don’t buy those presents now, buy them in the sales.
Readers’ Christmas money-saving tips
We don’t have a monopoly on money saving wisdom – not by a long shot – so we asked readers for just one foolproof, last-minute Christmas money-saving tip. And this is what they came back with. It is worth noting that some of them are pretty Grinchy and we are in no way standing over all of them, particularly the first one.
- Pick an argument with loved ones ... no need to buy presents ... make up in the new year. Niamh Hassell
- Be a vegetarian – it is cheaper, healthier and less cruel. Sadhbh O’Neill
- Put the credit card in the freezer. Richard Geoghan
- Hiking /walking is a great activity if you’ve time off at Christmas and the leftovers make for great packed lunches. Choose a route that matches your abilities and the weather. Activities don’t have to involve big spends on things to do and on food. Cathal McCauley
- Just food shop for Christmas period. There are great reductions on seasonal foodstuffs to replenish stocks for new year and it also leaves room in your fridge. Angela Holohan
- Don’t leave the house ... or go online. I feel like I over do it every Christmas and wish I could buy for the whole world. We have far too much, Conor. Trying so hard to cop on a bit this year. Mairéad Ó Hagan Anderson
- Make a grocery list. Have a good meal before doing the grocery shop and STICK to the list. Buy veg from a greengrocer, as more likely not to be pre-packed. Learn how to make a soup using seasonal veg from scratch, eg leek and potato. Freeze in single portions. Margaret Kent
- Set up a separate email for promotions and use it for the extra discounts you get if you recommend a friend. Margaret Leahy
- Shop in farmers markets – many original and handmade goodies to be had, no need to pay for postage or make big drives to find things. Make and bake your own – will be far better for you and family. You can make Irish cream (recipes online), bake a Christmas cake, make cookies. April Danann
- If your family is small, like four/five use a turkey crown – way easier that the bird and it’s stuffed. We are big ham eaters so we have a big ham then. But crown so easy, cheaper and less stress.
- I invested in a good Christmas jumper that is good fabric and not gaudy a few years ago. We just get a small box of chocolates we like. Less waste. Emma Cashman
- Sticking all receipts into my diary so they can be found if refunds needed. June Persson
- When I was young I’d buy my father a shirt for Christmas but always the wrong size so I’d bring it back during the sales and be able to get one for myself as well for the same price. Seamus Byrne
- Have a great big lunch or breakfast before doing the Christmas food shop. Make far more rational decisions. Caitriona Murphy
- Don’t buy Christmas edibles early. You’ll eat them. Saving euros to gain pounds. Pat Murphy
- Use cash on your night out. You won’t overspend that way and you will get served quicker at the bar. Colly Dawson
- Set a budget and keep to it. Do not get into debt to please others. Patrick Kavanagh
- Hibernation??? And not sending Christmas cards. l also don’t wrap gifts – wrapping will only be thrown away anyway. Mary Frances Rogan
- In our family, we don’t bother with presents but we’ll all contribute something nice for the dinner. Orla Ryan
- Make a budget, make a list, stick to a date to do it, and don’t go back near the shop until after Xmas. You’ll always have too much. Neil Mac Diarmada
- Buying crap for the sake or it, ie tubs of sweets that aren’t nice over buying food that won’t be used. Don’t forget most shops are open on Stephen’s day, not like it was in 80s where everything closed for days. Glenn Williams
- No more Xmas presents. We are peer pressured into it. Birthday gifts only. Mick O’Connor
- Come to a mutual agreement with relatives to cancel presents. Eugene Brennan
- It’s a religious holiday that should have nothing to do with consumerism and if you no longer celebrate for that reason then it’s very hypocritical to celebrate it in the first place. Eoin Murphy
And finally, if you’re still short of ideas ...
Struggling for your last-minute presents? We have you covered – or at least we have some ideas that might help.
Hand in glove
Gloves are a long-standing favourite and Dents Silverstone Touchscreen Driving Gloves can be a handy (see what we did there) present for someone with cold hands who uses a smartphone a lot. At €110 they’re not cheap but maybe that is what makes them special. We found them selling in Arnotts.
Red, red wine
We are big fans of subscription presents and have been known to have a glass or two of wine in our time. The wine lover in your life might appreciate a box of wine delivered once a month for the next year and, if so, you still have time to place an order with boxofwine.ie.
Do you wanna know a Secrid?
A modern take on a most old-school present, Secrid credit-card-sized wallets, with their neat – literally and metaphorically – way to store loads of plastic and the odd bit of cash, are very cool. They can be found in retailers across the country, with prices starting at €69 – although if the person you’re buying for has a good few cards you might want to consider the twin version which sells for closer to €100.
Socksy and you know it
There was a time when socks were among the worst of presents but things have changed and there are all manner of cool sockateers out there. The Irish Socksciety – irishsocksciety.com – sells high quality and inventive socks, as does sockcoop.com. We also like Happy Feet socks which can be bought in shops around the country, with a pair likely to set you back a tenner or so.
Candle in the wind
You can’t beat an auld candle at Christmas. And at the time of writing, Arnotts was selling all manner of ones at heavily discounted prices. The Irish Design shop – irishdesignshop.com – also has some very fancy – and Irish – candles that are worth looking at.
Are you experienced?
If you can’t think of a really thoughtful physical present, buy your loved one an experience instead but make sure to follow our golden rules:
Buy for the person getting the gift: If you are buying a parachute jump or a balloon ride make sure the recipient has a head for heights. And buying someone who has an intense dislike of being touched by strangers a massage is a terrible idea.
Package the gift nicely. A dull, boring envelope is a terrible first impression even if that envelope contains a ticket for an all-inclusive trip to Paris. Buy an Eiffel Tower jigsaw or a beret or even a baguette (if you are really struggling) – anything to make the handing over of the gift more memorable.
Make sure the gift happens. Buying someone an experience they never experience is worse than buying them nothing at all.
Play your cards right: When Pricewatch were a lad, we had no rights when it came to vouchers and those selling them could attach all sorts of outlandish conditions to them and set the most spurious of expiry dates. Not any more, and now gift vouchers must have a minimum expiry date of five years and it should be provided to you in writing or in an email.
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You do not have to spend the full amount in one go and if a balance is more than €1, the business should refund the difference or give you another voucher. You can use more than one gift voucher at a time. Not all vouchers are equal, though, and some online deal vouchers for a specified thing can be sold with a much shorter use by date.
The bottom line is people should use their vouchers. According to the CCPC as many as 55 per cent of consumers have reported a negative experience with gift cards and vouchers. More than one third said vouchers had expired before they had spent them, while 26 per cent said that they had mislaid them. Some 17 per cent told researchers business had closed down before they could use them.
“If you have vouchers from last year think about using them to buy this year’s Christmas presents,” Grainne Griffin of the CCPC says. “If you’re planning on gifting a voucher do consider if giving cash instead might make it easier and quicker for the recipient to find the right gift for them.”
