Image from irishtimes.com Imaging
There was a really interesting piece in the Irish Times on Tuesday about a study carried out on Irish consumers by Price Waterhouse Coopers. According to their findings, Irish people are devastated by guilt over their profligate spending during the boom, and consumer confidence may never recover. Apparently it will be akin to having grown up during the Depression; we will be forever frugal and penny-pinching.
However, despite heavy use of the word ‘we’ in the media, not every Irish person went spendy-mental between 2002 and 2007. Not all of us were investment bankers or building tycoons or estate agents; some of us were teachers and office administrators, retail staff and waiters, journalists and web designers. I only know one or two people who were ever willing to shell out over a grand for a handbag. Any of us who bought homes in that period probably paid a bit too much for them, but they’re not all humungous McMansions in fancy areas.
I feel that those who bought new SUVs every year, etc, were always a fairly small minority, but one that made themselves prominent due to their loudness. I don’t think most of us have anything to be guilty about. Even if it starts raining money again next year, I’ll still be looking out for good deals in restaurants. But I won’t freak out if a small child won’t finish their cornflakes, like my Granny used to do.
What do you think? Are you guilty and ashamed? Or have you been bargain-conscious for years?
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