WEALTH September 24, 2026 0 Comments

Why Half of Us Are Bracing for a Financial Storm—And What It Means for Your Wallet

Isn’t it ironic that half of Irish consumers are already staring down the barrel of struggling to pay essential bills over the next year — and a fifth can’t even afford them now? You’d think with all the economic buzz and modern conveniences, managing household finances would be straightforward. Yet, a fresh, eye-opening survey from Trinity College Dublin, commissioned by SHEIN, reveals a widespread financial unease gripping Ireland’s households. Imagine living paycheck to paycheck, with 32% just scraping by on essentials, and a whopping 83% worrying nonstop about their money. It’s not just about tightening belts anymore; it’s about rethinking entire spending behaviors, shifting to budget-friendly brands, hunting discounts like hidden treasures, and even cooking more at home. This isn’t just a local hiccup — it’s a seismic shift in consumer mindset fueled by rising costs and economic uncertainty. So, what’s driving this cautious recalibration, and how are consumers navigating this new reality? Let’s dive into the findings that uncover the raw, unvarnished truth behind Ireland’s financial strain — and the savvy strategies consumers are deploying to stay afloat. LEARN MORE

Half of Irish consumers believe they are likely to struggle to pay essential bills within the next 12 months, and a fifth already find them difficult to afford, research from Trinity College Dublin commissioned by SHEIN has found.

Based on a nationally representative survey of 1,000 Irish adults, the study shows widespread concern about household finances, reduced saving capacity and significant changes in spending behaviour.

Nearly a third of respondents (32%) describe meeting essential costs as only just manageable, with no extra money to spare.

Overall, 83% of consumers are concerned about their personal or household finances, and almost two-thirds (63%) are saving less than they were a year ago, including 22% who say they have stopped saving completely.

Rising living costs are the main reason consumers give for this decline in saving capacity (55%), and a further 28% point to wider economic uncertainty, while 26% cite increased spending on essential items.

The findings indicate that ongoing cost pressures are affecting not only current household budgets, but also consumers’ ability to build longer-term financial resilience.

Against this backdrop, respondents are reporting widespread behavioural change, with consumers changing their everyday routines to make household budgets go further:

More than two in five consumers (42%) report that their discretionary spending has decreased compared with a year ago

Among those who have reduced their discretionary spending, 59% cite rising living costs as the main reason

The biggest cutbacks are in eating out (58%), clothing and fashion (48%), holidays or major purchases (43%), and recreation and entertainment (41%)

More than half (53%) are cooking at home more often, and 45% have switched to affordable alternative brands or retailers for groceries and household products.

More than a third are spending more time searching for discounts (35%) or have cancelled or downgraded subscriptions (34%).

The research found that value for money has become a mainstream purchasing priority, with 82% describing it as very or extremely important.

Significantly, this extends well beyond households under financial strain, rising to 92% among those with annual household incomes of €100,000 or more.

The research also shows that value-seeking is widespread across income groups, while consumers facing heightened financial pressure are particularly focused on making their budgets go further.

Those experiencing higher levels of financial pressure are more likely to seek out affordable alternatives, including in clothing, with 40% reporting that they are choosing more affordable brands compared with 18% of those experiencing lower levels of financial pressure.

The findings also highlight the role of online shopping in expanding access to affordable choice.

Some 86% of consumers say online shopping makes it easier to access affordable products where they live, while 43% associate it with overcoming limited access to physical retail and 42% point to the wider range of affordable products available online.

“This research by the team at Trinity College provides compelling insight into how Irish consumers are adapting to a changing economic environment,” said Robin Kiely, EMEA corporate communications director at SHEIN.

essential bills — Professor Ashish Kumar Jha, Professor of Business Analytics and Deputy Head of Trinity Business School; Robin Kiely, EMEA Corporate Communications Director at SHEIN; and Dr. Xiaoning Liang, Associate Professor in Digital Marketing at Trinity Business School.

“What comes through clearly is the importance of affordability and value for money, with consumers making increasingly deliberate choices about where and how they spend in the current climate.

“Consumers want greater choice, convenience and access to products that fit within their budgets. For retailers, understanding those priorities is essential to ensuring we continue to meet their needs.”

Photo: (l-r) Professor Ashish Kumar Jha and Robin Kiely. (Pic: supplied)