Communion children now raking in x400
WELL, holy payday... children are raking it in on their First Communion Day.
While parents continue to pay for expensive First Communion celebrations, despite the recession, their children can expect to make €400 on their special day.
The average cash present from friends and relatives is now almost €40, new figures reveal.
May is the typical month for First Communions and it is calculated that clothes and family parties will cost up to €600.
A new survey by the EBS shows that Communion gifts have gone up 4pc on last year with the average cash present increasing from €37 to €40. This is a €10 rise from 2010.
The cost of the day will leave little change from €600 and has risen by about €75 on last year. In contrast, however, Confirmation gifts have dropped in value by 20pc from €42 in 2010 to €35 last year and just €30 this year.
More than half of the children are likely to save most or all of the money, say their parents.
Six in 10 adults believe it is a good idea to give children money as a gift and almost one in 10 parents say they budget for the special day.
Nine in 10 of the parents say financial presents are given to teach children the importance of saving and 77pc believe that the current economic climate will teach their children to be more careful with their money.
Aidan Power, head of marketing and communications at ESB said it was a "welcome" sign.
STICK
"With 90pc of parents stating that they believe that teaching children to save is more important than ever, children are being taught about the importance of having a responsible attitude towards money and saving from an early age."
The fact that the gift amounts were rising he said "highlights the fact that regardless of the economic environment, many people are determined to stick with the traditions".
csheehy@herald.ie
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