Offaly children receive over €400 for First Holy Communion

Research conducted for EBS Building Society has revealed that on average a child in Offaly making their Communion can expect to receive €407. The research shows that children in Offaly and across Leinster save very little of their First Holy Communion in comparison to children across the rest of the country. In May children from all over Ireland make their First Holy Communion. It is estimated that up to 60,000 children will make their first communion in the coming weeks and the tradition to give a child a cash gift shows no sign of abating. With this in mind, EBS also asked a number of questions about what people feel is the appropriate amount to give as a communion gift and explored the likely savings habits of children that will receive such a gift. Of the communion money received by children across Leinster, 7% said that they would spend all of the money received and a further 44% said that they would probably spend the majority of it. On the other hand, 9% of children across Leinster said they would save all of their money and a further 40% would save most it, thus splitting up Leinster children into two groups: savers (49%) and spenders (51%). Overall, Leinster children have a weak savings habit, with only 4 in every 10 children likely to save some of the money they receive for their communion. Specially designed savings products, such as the EBS Children"s Savings Account "big" are ideal to help parents nurture this important life lesson in their children. EBS expects to celebrate the opening of over 5,000 Family Savings Account this week. For further information about the EBS Family Savings Account, "big" EBS Children"s Savings Account, or any of the EBS savings products, call into your local EBS office or phone 1850 20 36 36.