Monday 11 December 2017

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

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

Shane O'Riordan

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).

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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