Love these articles that list all the reasons people should have savings.
Aye, we fucking know, that’s why it’s called a debt trap because it’s a spiral.
They may as well just put out a headline “Wages still stagnating while companies make ever increasing profits”
It me. But it has to be said, I do have a pension and a mortgage half paid off. But TBH it’s been like this for yeeeeeears now in terms of immediate finances and cash access.
Less than 500 for an apprentice or college student who is supported by their parents is absolutely fine.
Median would have been a much better figure to use.
I suspect like most of the criticial issues in the country its all down to housing.
The amount of rent people have to pay eats into disposable income – money that isn’t going into savings and isn’t going into local business.
It impacts on recruitment for guards, nurses, and teachers. The main parties show little or no interest in tackling the issue other than repeating the same failed demand side incentives that have not worked.
Housing, and the excessive cost of it, is a massive sink of cash in the country. Why are people not going out? Why aren’t people saving? Why aren’t people doing X, Y, and Z… because everyone is paying out a massive proportion of their income to house themselves.
This is a survey by a body that wants you to do something. The CSO produces savings data on the regular, which tries not to be sensationalist. You can read it in the link below.
Households are saving 12.7% of their income, or €6.6bn in the last quarter we have data for. About 1.95m households so €3,384 per household, or €1,128 per month. There are other data series from the CSO that would break down which households save what, but without spending more time chasing it I’d say the surveys finding that over half of households are making significant savings scans.
If you’re wondering why FFG is at near 50% in the polls, the fact that such a large slice can put away that much money is a good hint.
How exactly are people supposed to save these days? Too much tax.
Yeah? How the fuck are you meant to save when most jobs literally don’t pay you enough to exist.
I tried saving to go back to college for a decade and never managed enough. Done springboard courses and no one will hire me in any of the fields because I’ve no experience in the field. So I make just enough to be able to eat and live in my MILs garage.
No friends IRL. No social life. No savings.
If it wasn’t for my partner and anti depressants I’d have absolutely done myself in 5 years ago.
You guys have savings?!
How depressing, I’m in a rake of debt just living hand to mouth and here’s people with €500 in savings. Thanks for rubbing my face in it Newstalk 👍🏼
Edit: typo
It’s entirely down to housing. People are at the pin of their collar to pay rent so have no ability to save.
I love the “no shit Sherlock” advice that you should put your money in an account where interest will accrue.
If you do not understand that then you probably shouldn’t be allowed out on your own.
The problem is people not having the money to put in the account!
Breaking news: People spend more money than they earn!!!
This cant be right – whenever I read r/irishpersonalfinance its full of 24 year olds earning €150k with 200k in savings, mortgage fully paid off and not sure how to invest their savings…
The amount of stupid spending people make is off the charts.
Of course these people will just blame their wages not being high enough but they’d spend all their wages if they had more anyways.
This isn’t really what I was on about but it just popped into my head again. I was sitting outside a row of shops and a takeaway worker comes out and walks into the convenience shop and comes back out eating a share packet of M&Ms. The same packets cost like 4.50 in Tesco, can’t imagine what they cost in the convenience shop.
I earn solid money and I wouldn’t pay 4.50 for them.
We really fucked ourselves over, when we accept as normal, that we spend the first 18 years of our lives getting trained to work for the next 50 years, so the last 20 years of your life, are not as stressful as the previous 68 years.
I volunteer with Alone and do visits to my local nursing home and honestly folks, the last 20 years of our lives are for the majority of us, a slow decline to senility and incontinence.
We are told to save because the banks need your money to give to the likes of Elon Musk, who rather than use his own money to buy Twitter, used money from the banks, our money.
We are told to have pension plans, because your pension plan invests in the equity funds used to prop up share prices and so keep the rich even richer, by giving them dividends based on your pension investment.
I’m £1,000 (€1,200) overdrawn because I have no control over my own money I have ***NO CONTROL*** over ***ANYTHING*** in my life – and I’m knocking middle-age and my CV is literally blank. Never been anywhere, done literally fuck all. The only thing I have to show for my pathetic existence is a lifetime of abuse. And it’s ***STILL*** continuing.
And there’s, seemingly, fuck all I can do about it…
People have to spend in or around €800-1000 on rent in major cities, thats €9600-12000 a year. Imagine if people could pay even half that they’d multiply their savings per annun by 10x.
Do assets count as savings? Because most people have assets. Cars, houses, phones, tvs, games consoles etc. Holding large amounts of cash generally isn’t wise, even for high net worth individuals.
Having savings doesn’t mean you aren’t fucked anyways. I have 8 months wages and I still cant do anything or move out or consider getting a car.
3 out of 4 have savings?
I can see why with €10 meal deals
Is there a way to see the profit of a company online somewhere? I want to see the profit margin of who i work for because i need more money
29 comments
But also 47% have €3000 or more and average is €6500…
> The data also found that while most people have savings of €6,500 in the bank, for 53% it is less than €3,000.
How would this work?
Only way I see this work is the 6500 bucket is simply larger than any other bucket. But that seems a pretty non-informative way to analyze this data…
I think people rather paying down debt (loans, mortgages) than saving tbh
[The neeeecck of you!](https://youtube.com/clip/Ugkx0SoDzl7LnLKC0M9P0j8wfbVJFnh_ohcX?si=JasQDPKrKsZt3dma)
Love these articles that list all the reasons people should have savings.
Aye, we fucking know, that’s why it’s called a debt trap because it’s a spiral.
They may as well just put out a headline “Wages still stagnating while companies make ever increasing profits”
It me. But it has to be said, I do have a pension and a mortgage half paid off. But TBH it’s been like this for yeeeeeears now in terms of immediate finances and cash access.
Less than 500 for an apprentice or college student who is supported by their parents is absolutely fine.
Median would have been a much better figure to use.
I suspect like most of the criticial issues in the country its all down to housing.
The amount of rent people have to pay eats into disposable income – money that isn’t going into savings and isn’t going into local business.
It impacts on recruitment for guards, nurses, and teachers. The main parties show little or no interest in tackling the issue other than repeating the same failed demand side incentives that have not worked.
Housing, and the excessive cost of it, is a massive sink of cash in the country. Why are people not going out? Why aren’t people saving? Why aren’t people doing X, Y, and Z… because everyone is paying out a massive proportion of their income to house themselves.
This is a survey by a body that wants you to do something. The CSO produces savings data on the regular, which tries not to be sensationalist. You can read it in the link below.
Households are saving 12.7% of their income, or €6.6bn in the last quarter we have data for. About 1.95m households so €3,384 per household, or €1,128 per month. There are other data series from the CSO that would break down which households save what, but without spending more time chasing it I’d say the surveys finding that over half of households are making significant savings scans.
If you’re wondering why FFG is at near 50% in the polls, the fact that such a large slice can put away that much money is a good hint.
https://www.cso.ie/en/releasesandpublications/ep/p-hs/householdsavingq22024/
How exactly are people supposed to save these days? Too much tax.
Yeah? How the fuck are you meant to save when most jobs literally don’t pay you enough to exist.
I tried saving to go back to college for a decade and never managed enough. Done springboard courses and no one will hire me in any of the fields because I’ve no experience in the field. So I make just enough to be able to eat and live in my MILs garage.
No friends IRL. No social life. No savings.
If it wasn’t for my partner and anti depressants I’d have absolutely done myself in 5 years ago.
You guys have savings?!
How depressing, I’m in a rake of debt just living hand to mouth and here’s people with €500 in savings. Thanks for rubbing my face in it Newstalk 👍🏼
Edit: typo
It’s entirely down to housing. People are at the pin of their collar to pay rent so have no ability to save.
I love the “no shit Sherlock” advice that you should put your money in an account where interest will accrue.
If you do not understand that then you probably shouldn’t be allowed out on your own.
The problem is people not having the money to put in the account!
Breaking news: People spend more money than they earn!!!
This cant be right – whenever I read r/irishpersonalfinance its full of 24 year olds earning €150k with 200k in savings, mortgage fully paid off and not sure how to invest their savings…
The amount of stupid spending people make is off the charts.
Of course these people will just blame their wages not being high enough but they’d spend all their wages if they had more anyways.
This isn’t really what I was on about but it just popped into my head again. I was sitting outside a row of shops and a takeaway worker comes out and walks into the convenience shop and comes back out eating a share packet of M&Ms. The same packets cost like 4.50 in Tesco, can’t imagine what they cost in the convenience shop.
I earn solid money and I wouldn’t pay 4.50 for them.
We really fucked ourselves over, when we accept as normal, that we spend the first 18 years of our lives getting trained to work for the next 50 years, so the last 20 years of your life, are not as stressful as the previous 68 years.
I volunteer with Alone and do visits to my local nursing home and honestly folks, the last 20 years of our lives are for the majority of us, a slow decline to senility and incontinence.
We are told to save because the banks need your money to give to the likes of Elon Musk, who rather than use his own money to buy Twitter, used money from the banks, our money.
We are told to have pension plans, because your pension plan invests in the equity funds used to prop up share prices and so keep the rich even richer, by giving them dividends based on your pension investment.
I’m £1,000 (€1,200) overdrawn because I have no control over my own money I have ***NO CONTROL*** over ***ANYTHING*** in my life – and I’m knocking middle-age and my CV is literally blank. Never been anywhere, done literally fuck all. The only thing I have to show for my pathetic existence is a lifetime of abuse. And it’s ***STILL*** continuing.
And there’s, seemingly, fuck all I can do about it…
People have to spend in or around €800-1000 on rent in major cities, thats €9600-12000 a year. Imagine if people could pay even half that they’d multiply their savings per annun by 10x.
Do assets count as savings? Because most people have assets. Cars, houses, phones, tvs, games consoles etc. Holding large amounts of cash generally isn’t wise, even for high net worth individuals.
Having savings doesn’t mean you aren’t fucked anyways.
I have 8 months wages and I still cant do anything or move out or consider getting a car.
3 out of 4 have savings?
I can see why with €10 meal deals
Is there a way to see the profit of a company online somewhere? I want to see the profit margin of who i work for because i need more money
If only Deemed Disposal wasn’t hindering them!
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