Two thirds of Irish adults are trying to offset the cost of living crisis with online tools – techbuzzireland
Pure Telecom, Ireland’s high-speed broadband company, today announces the results of a survey which found that adults in Ireland are turning to online resources en masse as they grapple with the impact of rising prices on their personal finances. The survey found that 66% of adults in Ireland are turning to tools such as internet banking, budgeting apps and cashback apps to cope with the rising cost of living.
The online survey, carried out by Censuswide on behalf of Pure Telecom, surveyed 1,002 people as part of a nationally representative survey and found that 94% of adults in Ireland have been negatively affected by the cost of living crisis. As a result, 50% of respondents reported canceling streaming or TV subscriptions in the past 12 months to cut costs.
The survey found that a quarter of Irish adults now use cashback apps – which allow users to get discount codes and vouchers or cash back on selected purchases – in a bid to offset the rising cost of living.
A similar proportion (24%) use apps and websites that help them find the best local deals on items on their shopping list, while 16% use personal finance apps that can track their spending. Four in 10, meanwhile, credit internet banking for helping them keep tabs on their spending during the cost-of-living crisis.
Pure Telecom’s research found that the internet is also helping Irish adults make more informed purchasing decisions. About 61% of respondents said they spend more time researching prices online before making a final purchase.
The study also found that telecommuting helps workers cope with rising prices. Of those who work remotely or on a hybrid basis, 44% say that working from home helps them reduce their living expenses. Of this cohort, 69% said they cut their fuel costs, 53% reported saving money on food and 42% saved on public transport. A quarter of those who work remotely or on a hybrid basis believe that telecommuting increases their cost of living.
Paul Connell, CEO of Pure Telecom, said: “With inflation and the ever-increasing cost of living, we’ve found that almost everyone is feeling financially strapped, and most are looking for ways to stretch their wallets. Our research found that adults in Ireland are getting creative and many are using a host of online resources to ensure they don’t pay a cent more than they have to.
“It’s only natural that in this current climate people are looking at their monthly spending and cutting back where they can, so it’s interesting to see that half of all adults have canceled at least one streaming or TV subscription in the past year. We at Pure Telecom are always aware of customers’ needs for great quality at an affordable price, which is why we are so proud of our extremely competitively priced Pure TV offer and broadband packages. We want to help people reduce their living expenses without limiting the things they enjoy most.”