WHILE IRISH people appear to be very good at drawing up monthly budgets to help them manage their day-to-day spending, they appear to be pretty bad at sticking to them.
A survey carried out by the EBS and the National Adult Literacy Agency found that half of Irish adults created monthly spending plans to help them manage their finances but just 15 per cent followed these closely. Some 57 per cent of those polled followed the plan to some extent with nearly one in three – 28 per cent – abandoning it.
Women were perceived to be much better at managing finances on a day-to-day basis, according to the survey, carried out ahead of International Literacy Day today.
It said 16 per cent of those questioned believed men were better at handling money, while 42 per cent were sure women were better with money.
Only half of those surveyed said they have started planning for their retirement.
The EBS and the agency have a revamped the financial information website, makingcents.ie, which is aimed at helping people understand different areas of finance