MOST PEOPLE say the biggest lesson they have learned from the recession is they should have spent less and lived within their means, an Irish Times/Behaviour Attitudes opinion poll has found.
Some 41 per cent of respondents said they should have been more cautious in their spending, while 15 per cent said they should have saved more. Just one in five said their main lesson was not to trust authorities. Of this, 12 per cent said they would not trust politicians, while 5 per cent said they would not trust the banks. Just 1 per cent said their main lesson was not to trust builders or developers.
Younger people are much more likely to feel they should have saved more and spent less in recent years, while middle-aged people are likelier to distrust bankers or politicians.
The findings are contained in a poll of 1,004 adults, conducted between October 12th and 26th at 100 sampling points across the State.
There are mixed feelings over Ireland’s economic fortunes. Most people (51 per cent) believe the economy will deteriorate even further next year. Just 14 per cent believe the country will be better off.
Almost half (44 per cent) believe we will have to wait until 2012 at the earliest for economic growth.
A total of 28 per cent think growth will return by 2011; 26 per cent believe there will be growth at some point next year.
Despite recent high levels of spending, 45 per cent say they are not in arrears. Of those in arrears, the average debt facing a person is €7,270 (excluding mortgage). Some 13 per cent have debt well in excess of €10,000. The 25-44 age group is most likely to be in arrears.
A total of 6 per cent – or almost 200,000 people – say they have had an overdraft facility, credit card or debit card withdrawn over the past year. Those most affected are those in the 45-54 age group (11 per cent).