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Half of consumers have cut back on TV or streaming services to cut household bills: survey

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Half of Irish households canceled their TV subscriptions or streaming services last year in a bid to cut household spending, a new survey shows.

An online survey of 1,002 Irish consumers conducted in early August found that the rising cost of everything – including home entertainment – is forcing people to rein in their discretionary spending.

An overwhelming majority of respondents (94 percent) said they felt the negative impact of the cost of living crisis.

The survey, commissioned by Irish broadband provider Pure Telecom, also found that many Irish households go online to look for deals or ways to better manage their personal finances.

The survey found that 66 per cent of Irish households use online tools such as budgeting and cashback apps that offer discount codes and coupons on various goods and services to save money, while 40 per cent of respondents now use online banking to do so track their spending.

A majority of Irish consumers (61%) said they now spend more time browsing prices online to find the best deals.

The survey also found that people who work from home or on a hybrid basis save money in the process, with 44 percent of teleworkers saying they save money by working from home.

Of this cohort, 69 percent of telecommuters reported a decrease in their fuel expenses, 53 percent said they saved money on grocery purchases, and 42 percent of telecommuters reported they saved money on public transportation costs. However, a quarter of teleworkers said working from home or on a hybrid basis actually costs them more money.

Meanwhile, Paul Connell, CEO of Pure Telecom said: “With inflation and the ever increasing cost of living, we have found that almost everyone is feeling the financial squeeze and most are looking for ways to tighten their wallets.

“Our survey found that adults in Ireland are getting creative and using a variety of online resources to ensure they don’t pay a dime more than they have to.”

https://www.independent.ie/business/personal-finance/half-of-consumers-have-cut-back-on-tv-or-streaming-services-to-cut-household-bills-survey-42010898.html Half of consumers have cut back on TV or streaming services to cut household bills: survey

Fry Electronics Team

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