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Friday 9 June 2023 Dublin: 15°C
# Optimism
Most Irish people think they could have more money in six months' time ...
… and at the very least think they won’t have any less money.

DESPITE ALL OF the bad news that seems to be out there, Irish people remain an optimistic bunch.

New stats today have shown that nine out of 10 people feel that in six months’ time they will be able to save as much or more money than they do currently -  an increase from 85% from a year ago.

This comes as part of Nationwide UK/ ESRI Savings Index, which looks at savings attitudes and habits in the Irish market.

Overall, it was found that people continue to put a high value on saving money, and feel that the economic environment encourages saving.

Watching the pennies  

The new figures show that the number of people saving regularly increased last month to 37% from 32% the month before.

It was also shown the the number of people not saving has fallen to 33%, from 41% the month before, and down from 44% this time last year.

When asked about their attitude towards saving, an overall increase in sentiment was found.

image005 Nationwide UK How consumers spend their money according to the consumer saving index. Nationwide UK

Attitude to the Government policy 

The figures looking at last month also found that there had been a decrease in the number of people who felt that Government policy encouraged savings – to 6%, from 10% a year before.

When asked about how they spend disposable income, 44% said it went towards paying off debts (including mortgages), a slight increase from 43% a year before. Of the rest, 37% said they would save it, 8% would invest it and 11% said they would spend it.

Speaking about the results, managing director with Nationwide UK, said that an upturn this month may be down to, “the confirmation of reduced water charges plus the pending income tax reductions, which become effective from January.”

Read: Nonprofits are showing their books to reassure donors

Also: Facebook paid €2.3m corporate tax in Ireland in 2013

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