New research from AIB reveals that one in five adults is putting away more than €125 each month, even with the ongoing cost-of-living pressures, reports Breaking News.
One in 10 adults is managing to save over €500 every month.
Nearly two-thirds of adults have never made an investment, with many pointing to a lack of understanding as a key reason for staying away, reports Breaking News.
At the same time, two-thirds believe that simply saving and not investing could mean missing out on chances to grow their money.
Four in 10 say they would be more likely to invest if they had the option to contribute small amounts monthly rather than committing to a large lump sum, reports Breaking News.
Three out of four adults in Ireland now manage their finances mainly through a mobile banking app, especially those aged between 25 and 44.
Ciara Ryan, AIB’s Head of Wealth and Insurance, 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,” reports Breaking News.
“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,” reports Breaking News.
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