From pension auto-enrolment and the proposed State investment account to the rise of digital-first banking brands, Irish consumers have never had more options when it comes to managing their financial future. Yet new research suggests a more fundamental challenge remains. Before consumers can focus on building wealth, many are still concerned about building financial resilience. Geoff Tucker examines what the latest data tells us about Irish consumers’ ability to withstand financial shocks and the implications for financial services brands competing for their trust, savings and investment.

For years, financial services firms have focused on helping consumers borrow, save, invest and plan for retirement. Increasingly, however, a more fundamental challenge is emerging: helping people build financial resilience.

New research from RED C among a nationally representative sample of n=1,008 aged 18+ in Ireland found that fewer than half (45%) agree that they have enough savings to cope with an unexpected financial setback. At the same time, more than one in five (22%) strongly disagree they have enough savings to cope with an unexpected financial setback, suggesting a sizeable minority could find themselves financially exposed if faced with an unforeseen expense. At a time when concerns about household finances and the wider economy remain elevated, the findings provide an important insight into how consumers perceive their own financial resilience.

The latest RED C Consumer Mood Monitor showed that while confidence in the economic outlook improved somewhat during July 2026 following the deterioration seen earlier in the year, Irish consumers remain cautious. Concerns about the cost of living, energy costs and household finances continue to shape sentiment, even if the mood is less negative than it was a few months ago.

Against that backdrop, the resilience findings help explain why many consumers remain hesitant about their financial outlook. The issue is not necessarily whether they are coping today, but whether they feel prepared for what might happen tomorrow.

Who feels financially prepared?

What is particularly striking is who feels financially resilient and who does not.

The largest differences are driven not by geography or gender, but by life stage, housing status and social class. Among homeowners who have paid off their mortgage, nearly two-thirds (63%) say they have enough savings to cope with an unexpected financial setback. Among renters, that falls to just 35%. Similarly, a majority of those aged 55 and over (56%) feel financially resilient, compared with just 37% of those aged 35-54.

More than one in five adults (22%) strongly disagree that they have enough savings to cope with an unexpected financial setback. That rises to 28% among those aged 35-54, those with dependent children, renters and those in the C2DE social grade.

While much attention tends to focus on those experiencing acute financial hardship, these findings point towards a broader group that might best be described as the “squeezed middle”. Characterised by working-age adults raising families, paying mortgages (especially in the early years of homeownership) or rents and managing the costs associated with modern life, many appear to be coping day-to-day while lacking confidence in their ability to withstand an unexpected financial shock.

At the same time, the findings also highlight a clear social class divide. Consumers in less affluent households are substantially less likely to feel financially resilient than their ABC1 counterparts, suggesting that the ability to build a financial buffer remains closely connected to income, resources and longer-term financial security. Financial vulnerability is not confined to any one group, but it is clearly concentrated among those facing the greatest economic pressures.

This tells us something important about financial wellbeing in Ireland today. Perceptions of financial resilience appear closely linked to accumulated financial security. Consumers who have had time to build assets, reduce debt and accumulate savings are more likely to feel protected against unexpected shocks. Those facing housing costs and the financial demands associated with raising families often feel less secure.

Moving forward, but cautiously

The findings are particularly interesting when viewed alongside recent data from Banking & Payments Federation Ireland, which showed that personal loan drawdowns exceeded €3 billion over a 12-month period for the first time. Growth was seen across categories including home improvements, vehicle purchases and other major expenditures, suggesting consumers continue to spend and invest in important life events.

Taken together, the two stories reveal an interesting tension. Irish consumers are still making significant financial decisions and commitments, but many remain uncertain about their ability to absorb an unexpected financial shock. They are continuing to move forward, but they are doing so cautiously.

While some consumers have built sufficient savings and assets to feel protected against unexpected costs, more than one in five (22%) strongly disagree that they have enough savings to cope with a financial setback. In between sits a large group who appear uncertain about their ability to withstand a financial shock, suggesting many consumers are managing financially today without feeling fully secure about tomorrow.

A changing savings and investment landscape

This matters because the financial landscape is changing rapidly.

The introduction of pension auto-enrolment earlier this year marks one of the biggest shifts in long-term saving behaviour in a generation. Meanwhile, the Government is expected to introduce a new Savings and Investment Account aimed at encouraging greater participation in investing and helping households achieve better long-term returns on their savings. The proposal reflects concerns that large amounts of Irish household wealth remain concentrated in low-yield cash deposits.

Both initiatives are designed to help consumers build wealth over time. Yet for many consumers, the more immediate challenge may be understanding what financial security and financial preparedness actually look like. Previous research suggests consumers do not always assess their own financial position accurately, meaning perceptions of vulnerability do not always align with objective financial circumstances.

This creates an interesting challenge for policymakers and financial services providers alike. Consumers are increasingly being encouraged to think about long-term investing and retirement saving through initiatives such as auto-enrolment and the proposed State investment account. Yet many may still be focused on a more fundamental question: could they cope if something unexpected happened tomorrow?

For the financial services sector, that distinction matters. Before many consumers are ready to think about wealth creation, they may first need a stronger sense of their own financial resilience.

This does not diminish the importance of initiatives such as auto-enrolment or the proposed investment account. Rather, it highlights the need to understand where consumers are on their financial journey. Encouraging long-term saving and investing is important, but so too is helping consumers build enough confidence and security to participate.

What this means for financial services brands

That presents both a challenge and an opportunity for financial services brands.

Historically, traditional banks, insurers, pension providers and investment firms have tended to communicate through the lens of products. Today’s consumers increasingly think about their finances differently. They are less interested in categories and more interested in outcomes. They want to feel secure, prepared and in control.

This shift helps explain the rise of fintech brands such as Revolut and N26, along with other new kids on the block like Bunq, Monzo and Raisin. While their business models differ, many have built their customer relationships around helping people manage money more effectively through budgeting tools, savings features, spending insights and greater visibility of their finances. The conversation is often less about banking and more about helping consumers understand and strengthen their financial resilience.

That does not mean traditional institutions are at a disadvantage. Far from it. Established financial brands retain significant strengths in trust, scale, product breadth and customer relationships. But it does suggest the competitive landscape is changing. The brands that win may be those that position themselves not simply as providers of financial products, but as partners in building financial resilience.

For banks, this may mean helping customers better understand their overall financial position and what financial security looks like in practice, rather than simply providing access to financial products. For insurers, it reinforces the role of protection and peace of mind. For investment and pension providers, it may require recognising that many consumers need a clear understanding of their own financial resilience before they are ready to think about growth.

From wealth creation to financial resilience

The significance of this research is much broader than a single statistic about savings.

Less than half of Irish adults “feel” they have enough savings to cope with an unexpected financial setback. In a period characterised by economic uncertainty, growing competition and major changes in how people save and invest, that may be one of the most important consumer insights facing the financial services sector.

Ultimately, the future of financial services may not be defined by who offers the best product. It may be defined by who does the best job of helping consumers to “feel” prepared for life’s inevitable surprises.

The opportunity for financial services brands may therefore be bigger than helping consumers save, borrow or invest. It may be helping them understand where they stand financially today, what steps they can take to strengthen their financial resilience, and how they can feel more secure about tomorrow. In an increasingly competitive market, the brands that succeed may be those that help consumers build stronger financial resilience and greater peace of mind about the future.

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Methodological note

The findings are based on an online survey conducted between 16th and 21st July 2026 among a nationally representative sample of n=1,008 adults aged 18+ living in the Republic of Ireland. The sample was drawn from RED C Live, RED C’s proprietary online research panel comprising more than 40,000 members. Data were weighted to be representative of the adult population by age, gender, region and social class, ensuring the results reflect the views of adults across Ireland. Results are subject to the normal margins of error associated with sample surveys.