National Consumer Agency

Market Research Findings:Financial Planning and Money Resolutions for 2012

January 2012Research Conducted by

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Key Findings

Financial Planning and Money Resolutions for 2012

Research Background and Methodology

Profile of Sample

Table of Contents

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Key Findings

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Key Findings

• Personal Finance Review:• A fifth (21%) of consumers never review their personal finances

• Nearly 3 in 10 (27%) review finances monthly, with a further 11% reviewing weekly

• 3 in 4 (75%) plan on carrying out a review of personal finances in the new year

• The number one money resolution for 2012 is “to budget better” as cited by 35%, followed by “to save more”, at 23%

• Biggest financial worries for 2012:

• “not having enough money to meet day to day expenses” (28%)

• “not being able to meet unexpected expenses” (20%)

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Financial Planning and Money Resolutions for 2012

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Financial Planning

Every week

Every 6 months

Once a year – at another timeLess often

Every month

Frequency of Reviewing Personal Finances

%

1 in 5 (21%) never review their personal finances. Over 1 in 4 (27%) claim to review their personal finances every month while 1 in 10 (11%) claim to do so every week.

(Base: All aged 15-74 – 1,000)

Never

11

12

1071

11

21

27

Every 3 months

Once a year – at the start

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42

36

37

34

35

35

39

32

30

15

6

6

4

9

11

3

4

5

7

8

Plans for the Year Ahead

Leading a healthier lifestyle

Carrying out a review of my personal finances

Having a better work/life balance

Getting fit/losing weight

Giving more time to community activities/work

Not at allImportant

Not veryImportant

FairlyImportant

VeryImportant Neither/

NorMeanScore

14 4.0

15 4.0

22 3.9

20 3.7

31 3.4

Over 3 in 4 (77%) plan to lead a healthier lifestyle in 2012. A similar proportion (75%) indicated that they will carry out a review of their personal finances.

(Base: All aged 15-74 – 1,000)

%

(77)

(75)

(69)

(64)

(50)

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Money Resolutions for 2012

To budget better

To save more

Reduce my debts

Shop around for everything

Keep up to date with my repayments on my mortgage

Other #

#All other mentions 1% or less

35

23

17

15

3

9

33

22

17

19

6

(Base: All aged 15-74 – 1,000)

No. 1 money resolution for 2012

%

The number one money resolution for 2012

remains to budget better – as mentioned by over 1

in 3 (35%).

–

Nov 2011Nov/Dec 2010

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Money Concerns for 2012

28

20

17

13

11

4

7

32

23

17

10

10

5

3

Not having enough money to meet my day to day expenses

Not being able to meet unexpected expenses

Not being able to save money for future needs

I feel financially secure and have no worries

Losing my job

Getting deeper into debt

Other #

# All other mentions 1% or less

(Base: All aged 15-74 – 1,000)

%

Consistent with the same period last year, the

biggest financial worry for 2012 is not having

enough money to meet day to day expenses

(28%).

Biggest financial worry for 2012

Nov 2011Nov/Dec 2010

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Research Background and Methodology

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The research was conducted by means of face-to-face interviewing with 1,000 people between the ages of 15-74.

To ensure that the data is nationally representative, quotas were applied on the basis of age, gender and social class.

Interviewing was conducted over a four week period in November 2011.

Research Background and Methodology

Nov/Dec 2007

Aug 2008Nov/Dec

2008

Nov/Dec 2009 June 2010Nov/December

2010

Benchmark

Wave 4 Wave 5

Wave 1 Wave 2

Wave 6

May/June 2011

Wave 7

May/June 2009

Wave 3

Nov 2011

Wave 8

Current Wave

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1728

4822

52

19

2816

1826

49

26

51

SEX AGE REGION SOCIAL CLASS

Profile of Sample

(Base: All aged 15-74 – 1,000)

Male

Female

% % % %

15-24

25-34

35-44

45-54

55+

Dublin

Rest of Leinster

Munster

Conn/ Ulster

ABC1 F50+

C2DEF50-

MAIN GROCERY SHOPPER

Yes No47%53%