Research has found that the cost of an Irish Christmas is €548.84, with the average person spending more than €312 on presents this year, buying a total of 14 gifts per person.
According to a nationwide study conducted by TNS on behalf of eBay.ie, the cost of buying food, decorations and other festive fun for each Irish household will be €235.94.
Parents will spend much more than the average person, with the average load of children’s presents costing €295.66 per family for 2010.
Gifts for children between 6 and 11 will be more expensive, totalling to €370.41 per family.
Regardless, children will receive a lighter load of gifts this year, as parents will spend €56.59 less on gifts than last year.
In spite of expensive Christmas shopping for kids, parents have reasons to be happy, as they are most likely to receive gifts this Christmas, followed by spouses and then siblings.
Unfortunately, grandparents are least lucky in terms of gift receiving – 77pc of survey participants won’t get them a present this year.
Fifty-one per cent said they saved throughout the year in order to finance Christmas, with an extra 38pc reducing all other expenses.
However, one-fifth said they finance Christmas by creating debt, with 7pc taking out loans and another 12pc using credit cards.