Third of consumers say they will budget better

A THIRD of consumers have resolved to improve their budgeting skills, while one in five say they intend to save more or shop around in 2011, according to research published by the National Consumer Agency yesterday.

The NCA’s research also asked about people’s biggest financial worry for 2011. Some 32 per cent said it would be not having enough money to meet day-to-day expenses, while 23 per cent expressed concern about unexpected expenses. A further 17 per cent said they were worried about not being able to save money for future needs.

The study, carried out by Amárach Research, showed that 22 per cent of those surveyed indicated they intended to save more this year; 19 per cent said they would shop around; and 17 per cent planned to reduce their debts this year.

Maria Hurley, NCA director of research, said 2010 was tough for everyone. “January 2011 pay packets have been a shock to many, so it is encouraging to see that one-third of consumers say they plan to budget better this year. Obviously, money worries are a huge concern for everyone right now, but budgeting can help you take control of the income you have and manage it in the best way possible.”

She advised people to visit nca.ie for information to help with finance.