Survey finds parents' spending on communions is going up

Parents are spending more money on their child's communion each year, according to a new survey conducted by Ulster Bank.

The survey found that, on average, parents spend more than €860 on the event.

The survey also found that children are less likely to save the money they receive, with the numbers dropping from 90% in 2016 to 77% this year.

Elizabeth Arnett, head of corporate affairs with Ulster Bank, says that while it is good for children to enjoy the money, the habit of saving is just as important.

She said: "Most parents have a conversation with children about what they should do with their communion money, or if they get a large amount of birthday money, at this early point in a child's life.

"It's an opportunity to say 'look, it's a party, a celebration and you can spend some money on nice things, but it's also important to look after that money'."

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