Household Saving Behaviour in Ireland

Julia Le Blanc

No 05/EL/16, Economic Letters from Central Bank of Ireland

Abstract: This Economic Letter provides an overview of saving motives and behaviour of Irish households in the aftermath of the financial crisis. Precautionary saving is the most commonly reported motive, followed by saving for education and support of children. Highly indebted and credit-constrained households also save to pay down debts. 60% of households are able to save at least occasionally. Wealthier households are more likely to save and less likely to have debt or report to be credit constrained. There is also evidence that some households are in financial distress as they spend more than they earn and leave bills unpaid.

Date: 2016-10
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