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REFLECTING IRELAND - MANAGING OUR MONEY IN A DIGITAL WORLD
6 June 2024
The latest issue of PTSB Reflecting Ireland, just published, focuses on how we manage our money in a digital world.
We have more options now than ever before when it comes to managing our money. It is evident that people see a clear role both for cash and digital banking services. Cash is the preferred option for informal occasions like tipping, giving children pocket money, or spending on a night out. Cash gives people a sense of control. It feels more ‘real’ than digital money, so we feel it more when we part with it. Where cash gives a sense of control, digital banking services give confidence. Three quarters (76%) say they feel more confident about managing their money as a result of using them. This is even higher for those under 35 at 83%.
The report also explores the role of AI in banking, experience of fraud, and sentiment on economy and life in Ireland. Key findings include:
- Almost three-quarters (72%) of people are concerned that the increased use of AI could lead to more sophisticated financial fraud
- When seeking guidance about financial products such as a mortgage, human support is up to six times more preferable than tech-led support
- The cost of living is still the most important issue for people (34%), followed by immigration (14%) and the price of housing (13%)
The latest issue of PTSB Reflecting Ireland focuses on how we feel about living in Ireland as a new year begins. 7 in 10 people believe Ireland is a good place to grow up in, and 6 in 10 say it’s a good place to grow old in. There are however striking differences by age group.
A key step along the way to a circular economy is to segregate our waste properly, so that it can be reused, recycled or disposed of correctly. The recently launched ' Take a minute, before you bin it! ' campaign highlights how small changes in behaviour can make a big difference to our recycling rate and bring us closer to a circular economy.
The latest issue of PTSB Reflecting Ireland explores the lives of women in Ireland today. As we approach a historic referendum on March 8th, International Women's Day, we look at four aspects of women's lives in Ireland: financial wellbeing, home life, work life and lifestyle & sport. Themes that emerge include the need for women to take more control over their long-term financial planning, evidence that behavioural patterns in the home are changing, a strong desire for gender equality in work and sport, and the importance of female role models in working and sporting life.
The latest issue of PTSB Reflecting Ireland explores how people are feeling about 2024. It reveals that despite current challenges, almost three quarters of us feel Ireland is a good place to grow up and over half of us feel it is a good place to grow old. Our natural environment is what we appreciate most about living here. Our concerns, hopes and priorities are broadly similar to this time last year. Concerns about our healthcare system are top of mind, and most of us have an ambition to become fitter and healthier this year. The most popular New Year Resolution for 2024 is to sort out our finances. We all want to feel in control of our finances, and as the high cost of living continues to bite, it has become a priority for most of us. We provide tips on how to get on top of your finances on www.ptsb.ie/blog
BehaviourWise is delighted to have supported the recently launched excellent campaign by DesignWorks Ireland to encourage people to recycle their WEEE (Waste Electrical & Electronic Equipment). The campaign is supported by Ireland's two WEEE compliance schemes, WEEE Ireland and ERP Ireland, the Regional Waste Management Planning Offices and the Department of the Environment, Climate and Communications. According to the Environmental Protection Agency, WEEE has become one of the fastest growing waste streams worldwide due to the unprecedented level of electronics being produced. It is also one of the most hazardous if not managed properly. From a behavioural point of view, we know that most of us have some old or broken electrical or electronic equipment lying around that we either forget about or don’t know what to do with. This campaign is all about reminding people that anything with a plug, battery or cable can be recycled, that it costs nothing and that it’s easy to do! It directs people to www.MyWaste.ie to find their nearest WEEE drop-off point.
The latest edition of the PTSB Relfecting Ireland series shows we are concerned about climate change, but fear of increased costs gets in the way of us taking action to help address it. There has however been an increase in sustainable behaviours over the last two years ...
I was delighted to take part in the RTÉ documentary Secrets of a Delivery Driver , which aired last night on RTÉ 1. It provides a fascinating insight into the lives of people behind the deliveries we often take for granted in our day-to-day lives. Three key themes emerge ...
BehaviourWise was delighted to host a Behavioural Insights Online Training Workshop on 23 rd September in partnership with Westminster Insight. The Workshop is CPD accredited, giving participants the opportunity to earn credits for ongoing learning. Participants rated it 5 out of 5 and shared some very positive feedback ...
It was great to talk to Henry McKean of Newstalk for The Hard Shoulder yesterday about how people reacted to the Bank of Ireland ATM glitch on Tuesday evening ...
The latest issue of Permanent TSB’s Reflecting Ireland series, published this week, explores our behaviour when it comes to news media, the impact of news on our mood, our social media habits and the impact of social media on our wellbeing. Produced by Permanent TSB in partnership with Core Research and BehaviourWise, the findings reveal it is very important to us to stay well-informed and up to date, and that we trust traditional media channels (TV, radio, newspapers) most to provide news that is accurate, fair and balanced. Watching, listening to or reading the news can have a negative impact on our emotions, particularly for women, and this can lead to a disengagement from news media. The research also shows that for younger people, social media channels are a main source of news. In a digital world, the lines around what constitutes a news source are blurring. While younger people are more likely to keep informed through social media, they are also more likely to fact-check news items they come across. Time spent on social media is found to impact on our emotional state, with 1 in 3 users reporting a negative impact on their mental wellbeing, rising to 1 in 2 among young people.