A simple step today - alter your ‘money mindset’

When we picture financial planning, most of us think of pensions, tax returns, or putting money aside for a distant future.

But in Munster today, the reality is stark: only one in ten people feel confident about their financial position as they approach retirement, according to new research from LIA, the Centre of Excellence for the education and development of Ireland’s finance professionals.

These figures reflect national trends to a degree, but also highlight a clear opportunity. While 36% of people across Ireland say they’ve worked with a financial advisor or planner, that number drops to just 21% in Munster.

This gap suggests that many people in the region may not be accessing the support that’s available - whether due to visibility, awareness, or simply not knowing where to start.

From AI-powered budgeting tools to TikTok tutorials on tax breaks, money advice is more accessible than ever. But greater access doesn’t always lead to greater confidence. In fact, for many - in Munster and beyond - the sheer volume of information is overwhelming.

It’s easy to compare yourself to others who seem to be saving more, retiring early, or ‘hacking’ the system, and feel like you’re falling behind. Often, it’s not a lack of effort that holds people back - it’s uncertainty about where to begin.

That’s why we need to rethink how we talk about financial preparedness. As much as it’s about numbers, it’s also about mindset. The real barriers aren’t just knowledge gaps, they’re a lack of context, confidence, and clarity.

One clear difference our research uncovered was between men and women: only 11% of women nationally say they feel “very prepared” for the future, compared to 23% of men.

This isn’t just about income, though - it often reflects the reality of women’s lives, including career breaks, caring responsibilities, and the time pressures that come with managing both work and family.

These factors can make it harder to engage with long-term financial planning or seek out professional advice, even when the motivation is there.

Similarly, the fact only one in five Munster residents say they have used a financial advisor points to some of the common barriers people face when seeking support - from not knowing where to start, to wondering whether their financial situation is ‘enough’ to justify professional advice.

For many, it’s not a lack of interest, but a lack of familiarity or confidence that holds them back. That hesitation is understandable - but with the right encouragement, it can be overcome.

At LIA, we talk a lot about the emotional side of money. Because no matter your income, how you behave with money is shaped by how you feel about it.

Some avoid looking at their balance. Others stress over every cent. Some give freely to others, putting their own future second. These aren’t flaws - they’re patterns. And naming them is the first step to changing them.

That’s why we encourage a simple tool called a money mindset snapshot. It helps you reflect on how you relate to money - and gives you a clear starting point for better habits.

If you tend to spend impulsively, try setting limits with prepaid cards. If you hoard savings but fear investing, a trusted advisor can guide you through options. If you give generously to family, try setting a ‘giving budget’ so you can support your loved ones without sacrificing your own goals. These small behavioural shifts can make a big difference - especially when combined with personalised advice.

Financial advisors aren’t just for high earners or retirement-ready professionals. They’re for anyone who wants to feel more secure in their choices - whether you’re buying your first car, saving for a child’s education, or simply trying to get through the month without financial anxiety.

The key is finding advice that fits your life - and that feels human, not transactional.

That’s where we see a real opportunity to help more people connect with the guidance that already exists around them.

Financial advisors across the region are doing invaluable work every day. The challenge now is encouraging more people to take that first step - to seek out support locally, have that conversation, and start building confidence with someone they trust.

But the truth is: it’s never too late to start. Maybe it begins with setting aside €50 a month. Maybe it’s checking your spending patterns. Maybe it’s having one honest conversation with someone who can help.

Every journey has to start somewhere. And for people in Munster, it starts with making advice more visible - and making people feel seen.

We need both individual action and systemic support. That’s why LIA strongly supports the Government’s new National Financial Literacy Strategy. It’s a welcome step towards embedding real-life financial skills into education and public life.

But we also need to close the regional gap. That means more outreach, more local engagement, and more relatable advice - not jargon-filled brochures or cookie-cutter solutions.

If we want people in Munster to feel more prepared, we need to show up differently. Because ultimately, financial security isn’t about perfection - it’s about progress. And everyone deserves the chance to feel confident about what comes next.