Irish people are stashing the cash more than ever as saving habit takes firm hold

"Trend is still growing, with the amount of income put away by people now 15pc"

"Are you a saver or a spender? It is a question often asked in newspaper quizzes about personal finances. "Saver" is the answer most Irish people should be giving, and it seems we have, indeed, become a nation of savers."

"It started during the Celtic Tiger era of 2001 to 2007 and then really surged during the financial crisis, as people were spooked about the security of their jobs and pensions."

Household saving in Ireland has been increasing, with the proportion of income saved now around 15 percent. Most Irish people should qualify as savers rather than spenders, reflecting a national shift toward higher saving rates. The trend began during the Celtic Tiger era of 2001–2007 and accelerated sharply during the financial crisis. Elevated concern about job and pension security during the crisis prompted many households to increase precautionary savings. Current patterns indicate continued growth in saving behavior among the population and a stronger emphasis on financial caution and accumulation of liquid assets.

Read at Independent