Half of us will have to borrow to fund festive spending, survey finds

Despite one in three people believing they are better off in the run-up to this Christmas than last, more than half will still have to borrow money to cover their festive spending.

And while it will take the average consumer 8.5 weeks to recover from over-spending at Christmas time, as many as 6% of us will take six months to get back on track and 4% will take nine months or more.

The results of the Irish League of Credit Unions’ annual Christmas Spending Survey indicate that while more of us find ourselves in a better place financially in the run-up to December 25, a large number will still struggle to meet the significant cost this time of the year brings.