A survey has shown that more than three-quarters of adults are saving money on a monthly basis.
The Postbank Savings Index shows that 76% of adults were savings at the end of last year, a slight drop from the previous survey three months earlier. The average amount saved per month was €283, also slightly down from €305 in the previous quarter.
The survey showed that 26% of people reduced their debt in 2009 and more than 40% claimed that they now had no borrowings.
Postbank says debt levels look set to fall again in early 2010 as just 6% of people surveyed indicated that they would increase their borrowings in the next three months, with 25% planning to reduce borrowing.
The Postbank Savings Index is a quarterly survey of Irish adults carried out on a national basis by Millward Brown Lansdowne.
The survey found that the main motivation for saving remained a 'rainy day fund' for emergencies, accounting for one-third of the total. But saving for a holiday has risen to 16%, the highest level recorded in the last 15 months. The amount of people saving for a home loan increased to 6%, but saving for a car remained low at 4%.
