Irish households saved over €31bn in 2020

The majority of the money saved is sitting on deposit with banks, according to the CSO. Picture: Pexels

Irish households saved over €31bn last year, bringing their total financial worth to an all-time high of €312.8bn, according to new figures from the Central Statistics Office (CSO).

The CSO’s Institutional Sector Accounts Non-Financial and Financial Report for 2020 shows that the level of saving by households last year was almost three times higher than before the onset of the Covid-19 pandemic.