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Households saved an extra €15bn in the last year*

Households have spent the last year saving more and paying down debt.

HOUSEHOLDS where people have been able to work from home are saving so much that a new record has been reached for funds in banks and credit unions. Households in this country saved an additional €15bn in the year to April in response to the coronavirus pandemic.

This took total household savings to a new record of €131bn, according to Central Bank data. In the month of April alone an extra €2.2bn was saved in banks and credit unions. Over the last year people deposited €14.9bn more than they withdrew. Most of the additional cash was put into current accounts, the Central Bank said.

Please review the full article below or download here.

Household-Saving-Article-SP-Irish-Indo

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Seaspray Private trading as Seaspray Private is regulated by the Central Bank of Ireland. Registered in Ireland number 692221. Copyright 2022 Seaspray Private Ltd

Warning: Past performance is not a reliable guide to future performance. Warning: The value of your investments may go down as well as up. Warning: If you invest in these products you may lose some or all of the money you invest. Warning: These products may be affected by changes in currency exchange rates.

*Source: April 27 2021 02:30 AM, Charlie Weston , Independent.ie. See full article here

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