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Saturday 28 January 2023 Dublin: 4°C
Savings is essential in order to rebalance the economy, says Nationwide UK (Ireland). Photo: PA
# Economy
Almost half of people save regularly
Despite half of people saving regularly, many feel they cannot save enough.

A NEW SURVEY by the Nationwide UK (Ireland) shows that almost half of people save regularly.

However the saving index also shows that 64% of people survey felt they did not save as much as they should,  and 47%  said that the the current economic climate meant now was a bad time to save.

In June, there was a 7% increase in the number of people who were regularly saving and there has been a decrease in the negativity towards government policy on saving from March to June.

Brendan Synnott, Managing Director of Nationwide UK (Ireland) said that the “increase in the percentage of people who say they are not saving as much as they should suggests that less disposable income is available for saving.”

He added “In broad terms, there remains a need for the Irish consumers to increase savings in order to rebalance the economy.”