Word on the street Spavers

What it means:In these cash-strapped times, everybody is looking for a bargain, and a whole slew of websites has popped up offering discounts and one-off specials. But are these sites really saving you money? Spavers are people who spend in order to save.

They’ll shell out for stuff they don’t need and can’t afford because they believe there’s a discount in sight – snapping up colonic hydrotherapy, online origami and a donkey ride in Leitrim.

Where it comes from: Shopping channels are losing their edge as online shopping takes over and savvy websites are realising people are want to click on to the best deals around. Sites such as Groupon and LivingSocial offer daily deals on an array of items and consumers can access deals through their smartphones. The biggest contributor to the success of these sites is "fomo" – fear of missing out. Wouldn't you be sorry if you missed that €16 home teeth-whitening kit?

How to say it: "Aunt Mary is such a spaver – last Christmas, she gave everybody a voucher for hip-hop classes."