Budgeting, Income & Expenditure 2015
This study of consumer behaviour in relation to budgeting, income and expenditure was conducted by Behaviour & Attitudes on behalf of the Competition and Consumer Protection Commission (CCPC). The research was undertaken through a face-to-face, in-home survey of 1,001 adults aged 16+.
Key findings
- 3 in 4 households budget for their household expenses, with budgets being predominantly on a weekly bases (3 in 5), while 3 in 10 budget on a monthly basis
- 3 in 5 save regularly, with women and ABC1s showing highest likelihood to save Saving and using existing cash resources are the main methods used to finance large spend items
- The rate of declining income continues to slow with 1 in 5 claiming that their household income has decreased (44% in 2013). 50% state that their household spend has remained the same with 10% saying that it has decreased and 35% stating that expenditure has increased
- Positively, a quarter of the population believe that their personal finances will improve in the next 12 months, up from 12% in 2014
- Almost half of consumers believe that the recession has taught us to better manage our finances (53%), while 44% believe that they are now constantly looking out for better value
