Average household savings in Ireland

[Asi-Irish]

I'm just wondering how bad things are in Ireland.

Has everyone been borrowing and spending, hand over fist, or do people have net savings?

How about people in their twenties, or others who don't have home loans?

A friend of mine reckons that if you were to stop random people on the street and ask them if they could come up with 30k Euro within 2 days, only around 2% would be able to do so.

[Oppenheimer]

I'm just wondering how bad things are in Ireland.

Has everyone been borrowing and spending, hand over fist, or do people have net savings?

How about people in their twenties, or others who don't have home loans?

A friend of mine reckons that if you were to stop random people on the street and ask them if they could come up with 30k Euro within 2 days, only around 2% would be able to do so.

What do you mean by "net savings"? What are the "net" against? If you are asking if people could put together a net worth statement including mortgage then I would say very few would have positive net worth, if accurate house prices are used. So 2% may be correct, low single digits I'd say.

[sparkey321]

I couldn't.

I have a mortgage of approx 245K and other debts amounting to about 20K (most of which was spent on the house).

I have no idea what my house is worth now. Its a nice 4 bed bungalow on a little over half an acre in a nice area 5 minutes off the motorway, 10 minutes from Limerick, 1 hour from Cork and a little over 2 hours from Dublin.

My car is paid for,

In cash I have 2 months mortgage payments and about 3K. That's it.

My mortgage is insured against loss of earnings as are most of my other debts.

I would think that I am pretty well off in comparison to most people I know.

[Truth.ie]

If thats true about the 2%, then things really are bad.

[QuizMaster]

over 100k outstanding on mortgage.
175 per month on car
No savings.

Sterling income, worth 400 euro a month less than a year ago.
30k euro in 2 days? Man I couldn't get you 300 euro in that time. Seriously. I've found a few new things you can do with lentils. Including eating them.

[drbob1972]

6 months wages in savings and realisable assets, trying to increase same as much as possible....

[snarl]

I probably could get 30k in two days but only because i was made redundant last month

[seabhcan]

30k is around one years wage for me, so no.

However, I have no mortgage or other debts, and a small amount of savings.

So in comparison to those on 60k a year with a 300k mortgage, I rich.

[FutureTaoiseach]

Supposedly consumer-spending has seen the largest decline in 25 years.

[Truth.ie]

I never smoked. Never did drugs. I drive a banger car but it's mine. I don't buy big brand clothes. Saved since i left school, even if was only a tenner a week. Got on the property ladder before the madness.
I'm in the 2%.