Almost three-quarters of parents surveyed in Connacht and Ulster expect to make financial compromises to fund their children’s education, according to new research commissioned by AIB.
The Amárach Research survey found 73% of parents in the two regions expected to make some form of financial compromise.
Among those surveyed, 48% expected to reduce household spending, while 45% said they could use short-term savings and the same proportion expected to sacrifice holidays or other lifestyle spending.
The research also found 55% did not have a clear plan for funding their children’s education.
Of parents receiving Child Benefit, 28% said they saved the payment each month, 37% used it for day-to-day expenditure and 1% said they invested it.
The research was conducted among 727 parents of children under 18 across the Republic of Ireland between July 2 and July 22, with regional findings supplied for Connacht and Ulster.
As the research was commissioned by AIB, the findings should be viewed as a survey rather than official household-finance statistics.
