Preparing for a First Holy Communion or a Confirmation is an exciting time but with so many things to consider, the costs can add up quickly. It’s important to plan for the day and here are a few tips to help;
- Start Saving it’s never too late to begin saving and every little bit you put aside helps cover the costs of the day. It all adds up over time! St. Michael’s has been helping members save for over 54 years.
- Budget and know how much you can afford to spend. Make out a realistic budget and keep track of all your spending. Make a list of everything that you think you’ll have to buy from the outfit to the food. Make a decision on how much you’re going to spend and stick to that amount.
- Cutting the Costs
- Shop around when picking out their outfit for the day to get the best price.
- Be creative! If you don’t have the money for all the extras think about what you can do yourself.
- If you have decided to have a party at home, ask guests to bring along a dish to help share the cost and the work.
- Do something a little different like asking your child what they might like to do with just the immediate family – maybe a trip to Fota.
I You Need To Borrow?
If you need help covering the costs of a Confirmation or Communion we are here for you! Avoid maxing out your credit card or using a moneylender that charges huge interest rates. Come talk to us today!
Here are examples of a loan with us;
Loan Rate: 4.85% (5%APR)
Amount: €600 Loan Lenght: 1 Year
Weekly Repayments: €11.82
Total Repayment: €614.90
Loan Rate: 10.98% (11.60%APR)
Amount: €500 Loan Lenght: 1 Year
Weekly Repayments: €10.16
Total Repayment: €528.38
The Perfect Time To Start!
Now is the perfect time to teach your child about money and the importance of saving. A good starting point is to get your child to open a savings account with their communion money. We offer children’s’ savings accounts and visit local schools on a weekly basis as part of our School Savers Scheme. Encourage your child to put a little aside regularly by setting them a goal to save for. More information on saving with your credit union can be found here.
We wish everyone celebrating a First Holy Communion or Confirmation a great day!