One in five Irish adults are saving more than €125 per month despite ongoing cost-of-living pressures, according to new research from AIB.
The bank’s study revealed that one in ten people are managing to save more than €500 monthly, suggesting some households are finding ways to build financial reserves even amid economic challenges.
However, the research highlighted significant gaps in investment knowledge, with just under two-thirds of adults having never invested. Lack of knowledge was cited as one of the main barriers preventing people from exploring investment opportunities.
Paradoxically, two-thirds of respondents acknowledged that simply saving without investing could represent a missed opportunity to grow their money. Four in ten people said the ability to invest small amounts monthly, rather than requiring lump sums, would encourage them to start investing.
The study found that three-quarters of Irish adults now manage their finances primarily through mobile banking apps, particularly those aged 25 to 44.
AIB’s Head of Wealth and Insurance, Ciara Ryan, emphasized the bank’s commitment to supporting customers’ financial confidence through both digital services and face-to-face advice. She noted the importance of embedding comprehensive guidance into new digital investment options to address knowledge barriers.
“We are committed to supporting customers to feel more confident about their understanding of the options available to them, so that they can make the right choices to secure their financial future,” Ryan said.