Communion can be such an exciting time for you and your child, but a recent survey by Ulster Bank shows just how pricey it can be for families.
So how much are parents spending on their child’s communion?
An Eight-Year High
According to the research, parents are now spending an average of €929 on their child’s Communion Day – the highest spend recorded since 2011 when it was €927.
That’s not all. Results for 2019 showed a substantial increase of €69 (or 8%) since 2018.
READ MORE: How Can First Communions Teach Children About Money?
Parents Spending The Money
Preparing for your child’s communion takes quite some planning and budgeting. But what are people spending their money on?:
- Communion outfits – The biggest increase was in the amount parents have spent on Communion outfits for children. The amount jumped 35% from €162 to €218.
- Family outfits – Spending on outfits for other family members was also up 27%, from €153 to €195.
- Food and drink – Spending on party food and drink was up 2% for 2019, from €349 to €357.
- Makeup and hair for girls – Spending on makeup and hair for girls also increased marginally from 2018, rising from €35 to €41.
- Entertainment – The only thing that parents spent less on this year was children’s entertainment, with the amount dropping 26%, from €161 to €119.
Read Next: Are You Hosting A Communion Party?
The Amount Children Get
According to Ulster Bank, the average amount of money children received for their Communion this year was €617, which is up 10% from €558 in 2018. Almost a quarter (23%) of people who participated in the survey said their children received more than €800.
“Communion Day is traditionally the first time that children receive a significant amount of money, and almost two-thirds (62%) of parents think that their child received too much money,” Ulster Bank said in a press release.
On average, girls received more money (€646) than boys (€587). Both of them had an increase in amounts: €69 for girls and €46 for boys.
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Children Spending The Money
According to the survey, children have spent less of their Communion money this year, compared to 2018. On average children spent 28% of their money. But what are they buying?:
- Toys – 42%
- Clothes – 29%
- Computer games – 28%
- Books – 23%
- Sweets – 18%
- Sports equipment – 18%
Almost two-fifths (42%) of children shared some of their money with siblings or donated some to charity.
Read Next: 6 Tips For Teaching Your Kids About Money
What do you think about these figures? Tell us in the comments below.
