Irish consumers three times as likely to save a windfall than invest it, despite most knowing savings fail to beat inflation

• Over two-thirds of Irish adults believe money in savings accounts has failed to keep pace with inflation over past five to ten years
• Only 13% would invest unexpected €20,000, compared with 38% who would put it into savings
• Only 16% of Irish adults say they feel confident investing their money for the long term

Dublin, September 2026 - Irish consumers are three times as likely to put an unexpected financial windfall into a savings account versus investing it, despite widespread awareness that savings have failed to keep pace with inflation, according to new research from investing and trading platform IG.

The inaugural IG Mattress Economy Index, which surveyed more than 1,000 Irish adults, reveals a clear gap between what people understand about saving and investing and how they actually choose to manage their money.

More than two-thirds (68%) answered that money held in savings accounts has failed to keep pace with inflation over the past five to ten years. Yet when presented with an unexpected €20,000 windfall, just 13% would invest it, compared with 38% who would put it into a savings account.

This preference for cash is reflected in the average Irish adult having more than €34,000 sitting in savings and deposit accounts. It is also reflected in the latest Central Bank of Ireland figures, which show €175 billion held in bank deposits.* The findings come just weeks ahead of the Budget, where the Government is expected to provide more detail on its proposed new investment scheme as it looks to get more Irish households investing.

IG’s new campaign, Don't Sleep On It, aims to encourage more people to consider putting a greater proportion of their money to work through long-term investing rather than leaving it effectively ‘under the mattress’.

Irish adults know investing can deliver more, but confidence remains a barrier

The research highlights a striking disconnect between what Irish people understand about long-term investing and how they behave financially. Almost four in ten (39%) correctly identify diversified stock market investments as having historically delivered better long-term returns than savings accounts.

However, just 16% say they feel confident investing for the long term. Whilst nearly double that number (31%) prefer to keep most of their money in cash despite knowing it offers lower returns. 

The data suggest that the challenge is not simply a lack of awareness, but turning that awareness into action and giving people the confidence to take their first steps into investing.

Michael Healy, CEO of IG Consumer, said: “Ireland has become a nation of savers, but our research shows that cash is often the default rather than a conscious choice. Most people understand that inflation can erode the value of cash, yet when faced with a financial decision, cash still wins. That’s why we’ve launched our ‘Don’t Sleep On It’ campaign - to get more people thinking about investing and taking their first steps.

“The Government has a golden opportunity through the Personal Investment Account to change Ireland’s savings culture, but we believe the current direction risks making investing more complicated rather than simpler. The Government should use this opportunity to design an account that genuinely encourages long-term investment and works for ordinary households.”

The Mattress Economy Index is a new biannual measure tracking Irish attitudes towards saving, investing and long-term wealth, including investment confidence and barriers to investing. To find out more about the index and IG's Don't Sleep On It campaign, please visit: https://www.ig.com/ie/media-centre/dont-sleep-on-it

-ENDS-

* Central Bank estimations, July 2026 - https://www.irishtimes.com/business/economy/2026/07/31/irish-households-held-175bn-in-cash-deposits-in-june-as-government-readies-savings-scheme/

Notes to editors

For any press enquiries, please contact:

Finn Partners: igireland@finnpartners.com

IG PR: jack.crone@ig.com or press@ig.com

About the research

The survey was conducted online with a nationally representative sample of 1000 18+ adults. The study was conducted from 14th-20th July 2026, as part of an omnibus  survey. 

About IG Group

IG Group (LSEG:IGG) provides online trading platforms and educational resources to empower ambitious clients around the globe. Headquartered in the UK, IG Group is a FTSE 100 company that offers clients access to c.19,000 financial markets worldwide.     

All trading involves risk.