Saturday 10 December 2016

Parents are stressed out as back-to-school costs hit home

Shane O'Riordan

Published 24/07/2015 | 02:30

12pc of parents will consider using a moneylender to cover back to school costs
12pc of parents will consider using a moneylender to cover back to school costs

One-third of parents are stressed due to financial concerns, despite the upturn in the economy, according to new figures from the Irish Association of Counselling and Psychotherapy (IACP).

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Some 32pc say they have money concerns - which marks a 2pc increase compared with figures from 2013.

IACP spokesman Shane Kelly said: "It is clear that not everyone is feeling the effects of the economic recovery.

"Stress due to financial concerns continues to be a significant problem for a large part of the population, especially parents and people in the 35-64 age groups."

Furthermore, 12pc of parents will consider using a moneylender to cover back to school costs. On average, primary school parents spend €166 on uniforms per child and secondary school parents €258 per child, according to the Irish League of Credit Unions.

Some 32pc of parents find themselves in debt, borrowing an average of €360, with 16pc of parents having to sacrifice spending on food.

Irish Independent

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