THREE-QUARTERS of workers will start the new year in debt. And many people with jobs say they are worried about the cost of Christmas.
So cash-strapped are working people that a lot of them are to ask their employers for a cash advance on their wages, according to a survey commissioned by employment-law consultancy Peninsula Ireland.
Further evidence of the shattering of incomes, due to wage cuts and six savage Budgets, comes from the admission by four out of 10 workers that they will not be giving work colleagues a gift, because of the expense involved.
The Dublin-based employment-law consultancy group questioned 663 people and found that 75pc of workers will start 2013 in debt due to the expense of Christmas.
People are blowing their budgets on presents, travelling home for Christmas and socialising. Large numbers were spending their Christmas wages and the next month's wage packet to fund the festivities.
Managing director of employment-law specialists Peninsula Ireland Alan Price said workers who are at risk of going into debt to fund the festivities should budget better.
"Starting the new year in debt is no way to enjoy the holiday season, so stop the spending and plan a sensible Christmas."