One in five people saving more than €125 per month

Research from AIB shows one in five adults are saving more than €125 per month despite the rising cost of living.

One in 10 people is saving more than €500 per month.

Just under two-thirds of adults have never invested, citing concern about a lack of knowledge as one of the main barriers.

Two thirds also say that just saving and not investing could be a missed opportunity to grow their money.

Four in 10 people say the ability to invest a small amount of money every month instead of a lump sum would attract them to start investing.

Three quarters of adults in Ireland are mostly managing finances through their mobile banking app, particularly those aged 25 to 44.

AIB’s Head of Wealth and Insurance, Ciara Ryan said “It’s a key priority for AIB to support all of our customers to feel more confident about managing their financial health, in whatever way suits them best, whether that’s through our new end-to-end digital service in the AIB life hub on the AIB app or face-to-face with our financial advisors in our branches.

"It’s interesting to see from the research that for those people who have never invested, one of the main barriers is a lack of knowledge. This is why it’s important for AIB to embed comprehensive advice and guidance into this new digital investment option.

"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.