Ireland’s Guide To Money And Living

Consumer watch

Christmas gifts Keerati

FreeDigitalPhotos.net/Keerati

According to a survey by DoneDeal.ie, Irish adults are increasingly selling unwanted Christmas presents online in a bid to boost their funds in January.

January is often considered one of the most financially-challenging months, considering its five week length and the fact that it comes right after the Christmas period, which tends to hit our wallets quite hard.

The annual survey found that four in ten adults would consider selling their unwanted Christmas gifts, with younger adults the most likely to dispose of their gifts in this way. One in ten had already sold an unwanted gift online to make some extra cash. The survey also found that around 36% had regifted a present to a friend or loved one, a practice more common in women than men.

Christmas Day 2014 saw 673 ads placed on the popular website, while a further 1,556 ads were taken out on St. Stephen’s Day.

Thankfully it names no names.

In other news, writing in the Irish Independent this week, personal finance editor Charlie Weston notes that while new borrowers are seeing lending rates slashed, existing mortgage holders are paying some of the highest interest rates in the EU.

He calculates this extra load as €2,000 per year more, when compared to the rate paid by new borrowers. A number of people and organisations have criticised this disparity, with Ciara Phelan from the Irish Brokers Association (IBA) saying: “Existing variable rate mortgage holders have been gouged for years now to boost the bank’s profitability.”

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