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Irish people saving less

Four in ten not saving money at end of month, but more people expect to be better off next year.

FOUR IN TEN people are not saving money at the end of the month, the latest Nationwide/ESRI savings index shows.

42 per cent of people surveyed said that they were not putting any money aside, up from 36 per cent in 2011, with the proportion of people saving regularly now standing at 34 per cent. in 2010 it was 40 per cent.

However, 78 per cent said they expected to maintaining their current level of saving in six months time, up from 69 per cent in the same period last year. 12 per cent expected to be saving more in 12 months time, with only 10 per cent expecting to be saving less.

“Although this month’s results indicate that people are becoming more comfortable with the amount they are saving and are more optimistic about their ability to save in the future, there has also been renewed uncertainty about the economic environment” said Brendan Synnott, Managing Director of Nationwide UK (Ireland).

The overall conclusion is that people are continuing to save, mainly as a precaution for unexpected future events, and there is still no indication of a consumer demand led recovery with only 8% of those surveyed expressing a preference to spend any spare funds available.

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    Mute Helen Gallagher
    Favourite Helen Gallagher
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    Jun 20th 2011, 2:20 PM

    Question is why not one fish factory in Killybegs was fined for the stink of fish or all that dumping of bits of fish guts into the harbour that was left of the shore line for weeks and where sea gulls were covered in oil. Good on that judge.it is about time people spoke up for their local environment.

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    Mute Julian King
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    Jun 20th 2011, 2:15 PM

    Can ya blame em, no one likes the smell of cocks, even chicks.

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    Mute Stephen Robb
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    Jun 20th 2011, 4:54 PM

    There was bound to be another way other than closing the plant down! Not really fair in my eyes

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    Mute John Butler
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    Jun 20th 2011, 5:52 PM

    What else would it be smelling but fowl ?

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    Mute Darren Bates
    Favourite Darren Bates
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    Jun 21st 2011, 3:12 AM

    It didn’t just smell foul it literally smelled like chicken shit on an industrial scale!

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