Online tools are helping curb the rising cost of living, survey finds

23 Sep 2022

Pure Telecom CEO Paul Connell. Image: Pure Telecom

Half of respondents in a Pure Telecom survey reported cancelling their streaming and TV subscriptions in the last 12 months.

Two in three people in Ireland are taking to online tools to offset the cost of living crisis, according to a recent survey.

Commissioned by Irish broadband provider Pure Telecom, the survey found that 66pc of adults in Ireland are using tools such as internet banking, budgeting apps and cashback apps as the cost of living rises in the country.

The research was conducted by Censuswide on behalf of Pure Telecom. It surveyed more than 1,000 people online to determine the impact of rising costs and how people are coping.

Half of the respondents reported cancelling their streaming or TV services in the last 12 months to save on costs.

A quarter have taken to cashback apps – services that offer discounts and vouchers for certain products – to cut costs, while a similar proportion are using apps and websites to help them find the best deals on items to buy.

The survey found remote and hybrid working have helped many (44pc) save on expenses that would otherwise have been incurred when working from an office. Reasons include saving on fuel (69pc), reduced expenses on food (53pc) and lower transport costs (42pc).

“With inflation and the ever-rising cost of living, we found that almost everyone is feeling the financial pinch, and most are looking for ways to tighten the purse strings,” said Pure Telecom CEO Paul Connell.

“Our survey found that adults in Ireland are getting creative and many are using multiple online resources to ensure they don’t pay a cent more than they need to.”

Many respondents also reported that digital services such as internet banking (40pc) and personal finance apps (16pc) are helping them keep track of spending, while 61pc are spending more time researching prices online before making a final purchase.

The rising cost of living is one of the primary concerns of Budget 2023 to be revealed by the Government next week.

“It is natural that in this current climate, people are looking at their monthly outgoings and cutting back where they can, so it is interesting to see that half of all adults have cancelled at least one streaming or TV subscription in the past year,” Connell added.

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Vish Gain is a journalist with Silicon Republic