Shoppers savvy at home and flash the cash abroad

DESPITE the credit crunch, savvy Irish consumers tempted by bargains are still splashing the cash abroad.

But back home, we are saving like never before and have squirrelled away almost €4 billion in the past year alone — almost a third of the total amount saved during the SSIA scheme between 2001 and 2007.

Figures compiled by Bank of Ireland show that the amount of money on deposits in banks, building societies, credit unions and post offices has soared to €140.4 billion by the end of June, with individuals owning €64 billion and businesses the remainder.