Irish people among most pessimistic in Europe about their finances

Irish consumers rank among the most pessimistic in Europe when it comes to financial and geopolitical concerns.

A report by 2026 Banking on Banks shows that 42 per cent of Irish people have less money to save each month, compared to the European average of 35 per cent.

36 per cent of people in Ireland expect to save less and 33 per cent think their financial position will worsen.

58 per cent of Irish consumers plan to reduce their spending over the next 12 months, while 38 per cent say they have already proactively sought out discounts.

33 per cent have scaled back savings contributions, and 28 per cent have drawn down existing savings to cover everyday living costs.

78 per cent of European consumers have financial concerns about the next 12 months, up from 74 per cent in 2025.

Half of Europeans plan to reduce their spending over the next 12 months, while just 12 per cent intend to increase it.

Conflict in the Middle East is a major concern for 50 per cent of consumers and 37 per cent of business leaders.

70 per cent of business leaders say the current global climate makes long-term planning difficult, and 30 per cent fear their business may not survive the next decade.

Giovanni Catinari, Business Development Director - UK & Ireland at CRIF: "Our 2026 survey highlights the financial and emotional strain many households across Europe continue to face. In Ireland, despite the economy’s recognised resilience, many consumers are feeling the pinch.

"With inflation and geopolitical uncertainty continuing to weigh on confidence, more than two-fifths of Irish citizens are watching their disposable income decline, forcing many to cut spending or dip into their rainy-day savings to cover everyday costs.”