One in three say they’ll have the same Christmas they always have, regardless of restrictions
Daragh Cassidy
Head Writer

The research conducted with RED C also gives some insight into the financial impact of Covid on people’s finances as we pass the eight-month anniversary of official restrictions. 

It’s safe to say the Covid pandemic has impacted a large number of us financially, and for many the recent news of an effective vaccine and a potential return to normality couldn’t have come soon enough. 

And in the midst of the pandemic we now have to navigate how to spend Christmas in what will be anything but a normal festive holiday. 

So we did some research to find out the impact of Covid on people’s finances as well as their plans for the upcoming Christmas period.

Personal finances 

We know anecdotally that the impact of Covid hasn't been felt evenly across all areas of the economy. While some sectors, in particular the food, accommodation and retail sectors remain largely shut, others are operating almost normally.

And this is borne out in the research we conducted with RED C in October among over 1,000 adults in Ireland in which we asked people how Covid had affected their personal finances. 

The research showed there was an almost even divide between people who say they have been financially impacted by Covid to a significant extent and those who say they haven’t been impacted much at all.  

For example, while one third of people (33%) said Covid has had little to no impact on their personal finances, in contrast, an almost equal number (36%) say it has had a moderate to severe financial impact on them.

Within these groups, almost one in five Irish people (19%) say Covid has had no impact whatsoever on their personal finances. However, on the other end of the scale, 7% of people say it has had a severe financial impact on them.   


People’s plans for Christmas are obviously a hot topic at the moment. 

When asked about their plans, a third of people (33%) say they will have the same Christmas they always have, regardless of what restrictions might be in place, which might come as a worry to NPHET and those in Government circles. 

At 39%, 35-54 year olds are most likely to say they will have the usual Christmas, regardless of restrictions.

18-to-24 years olds, meanwhile, say they are most likely to abide by the rules.

Meanwhile over half of Irish people (56%) say Christmas this year won’t be as enjoyable as it was in previous years while just over two in five (43%) say they will be spending less on gifts this year due to the pandemic.

Results in detail

1. Tell us the impact of Covid on your personal finances (where 1 = no impact at all and 10 = a severe impact)





















2. Thinking about Christmas, tell us how you feel about the following statements.

Christmas this year simply won’t be as enjoyable as it was other years

I will be spending significantly less on gifts this year due to the pandemic

I will have the Christmas I always have, regardless of what restrictions might be in place

Agree strongly 




Agree slightly 








Disagree slightly 




Disagree strongly 




Net agree




Switch and save

Whatever the Covid pandemic continues to throw at us, people can always save money on their household bills by switching. Research we recently carried out showed that the average household could save over €7,000 a year just by switching a range of common bills such as energy, mortgage, broadband and insurance 

Every day people overpay because they’re under the impression that their loyalty is being rewarded. With a significant minority of people impacted financially due to Covid it’s more important than ever that people switch and save to ensure their money is working as hard as they do.

One of the easiest and quickest ways to save money is by switching energy supplier. 

At our easy-to-use comparison tool allows you to compare deals from a range of 14 energy suppliers

You only need a few things on hand to switch, so see how much you could save today!  

Tips for the Christmas period

With Christmas just around the corner, we know how important it is to save as much as possible and budget wisely. We’ve compiled a list of articles that will help you do just that this winter:

You can stay up to date with all the latest savings tips and news with our blog and guides pages.

Get in touch

What are your plans for Christmas this year? Will you celebrate as normal or will it be a more muted affair? Get in touch in the comments below as we'd love to hear your thoughts.

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