Tips so that you can help yourself cut your everyday spending

A new survey by EY of global consumer sentiment shows people everywhere adjusting to higher living costs by taking action regarding their spending behaviour.

The 12th EY Future Consumer Index is a survey of consumers in 27 countries on their views on their future spending.

The sentiment in the survey I believe is fairly similar in Ireland.    

• 94% of respondents are concerned about the rising cost of living.
• 55% of respondents see brands as less important and 29% have switched to own label.
• Over 35% of consumers plan to spend less on clothes take away foods and only spend on essential products.
• 67% of consumers say they intend to repair than replace their possessions.

Colette Devey, EY Ireland Partner and Consumer Products and Retail Lead said on RTÉ's Morning Ireland that:

"It was very clear from our survey that consumers are continuing to reign in spending amidst a very challenging cost of living environment,"

See full story here from RTE Morning Ireland News : https://www.rte.ie/news/business/2023/0523/1385105-future-consumer-index/

Your Credit Union can help you by helping you reduce your interest repayment costs on credit card and bank debt by switching to your local credit Union at a lower interest rate.

See our 3 steps to help you below: 

Step 1.  See our Switch and Save Loan – reduce your credit card or bank loan interest payment costs.    

Step 2.  Read our short blog on how to reduce your everyday costs here.

Step 3.  See some smart budgeting tips here based on the 50-30-20 rule.