An online calculator aimed at helping consumers to reduce their expenditure in several key areas has been released by the National Consumer Agency.
Dubbed the Economiser, the calculator analyses users' spending patterns in four areas – groceries, energy, TV and telecoms and mobile phones – and compares it to a demographic which most resembles their own.
Amárach Research, working on behalf of the agency, surveyed close to 2,000 people to get create 59 distinct consumer profiles so people using the calculator would be able to make spending comparisons with people who are in a similar financial position to themselves.
Based on information provided by users about the weekly grocery buying habits, their phone and television usage and there energy requirements, it also gives general tips on how people can reduce their bills.
Minister for Enterprise, Trade and Innovation Batt O'Keeffe described the calculatror as an important new tool that would allow people "to quickly and easily understand where they might have opportunities to make savings that can benefit them financially in a short period of time."
The chief executive of the NCA Ann Fitzgerald said the Economiser, which cost €80,000 to out together, was developed in direct response to the needs of consumers in the current climate. She pointed out that spending in these areas make up 30 per cent of the average household spend annually.
"What's really valuable is that the Economiser does not take a 'one size fits all' approach. Your results compare you to those with similar characteristics to you, meaning that the analysis should offer you relevant information and suggestions to achieve real savings," she said.
