Most of us will be cutting back on the amount we spend on food, gifts and entertainment this Christmas.
The latest consumer sentiment index from the Credit Union shows 61% of Irish people have less money to spend this festive season, however most will be prioritizing the children in their lives.
Economist Austin Hughes says recent job losses in the tech sector are adding to nervousness about our personal finances:
"The particular issue in November, I suppose, is the cost of living crisis and it's been worsened by concerns about tech job losses. So, the background to the special question on Christmas spending is an artist consumer who's very nervous, not only about the fact that things have gotten so much more expensive, but also that the outlook for jobs in the Irish economy is more uncertain."
