For 2025, could we just count our blessings?

If ever there was a sign that a significant number of people are completely out of touch with reality, it can be found among the pages of the December Irish Credit Unions Consumer Sentiment Survey. The survey measures consumer spending and borrowing sentiment on a monthly basis.

The December results reveal that just half of Irish consumers believe the Irish economy is better now than in their parents’ time. One third of those surveyed believe our finances are worse now than then, with the least positive views reported from the under-25 cohort. There is no rational explanation for this finding, because it is not true.

So why do so many people think they are worse off than previous generations? People believe they are paid less for doing more, and that housing and living costs are too high. But twenty years ago there were just over a million people in paid employment in Ireland, and today we are approaching two million. Tax rates are much lower than the 65% we once paid on earnings above a low threshold. Widespread education at third level has ensured that anyone who wants to get ahead can achieve earnings we could only have dreamed about. The 20 percent interest our generation paid for home loans was astronomical compared to the low single figures paid today, not counting the generous subsidies that now exist for first-time buyers. Everything that can be given to citizens, from free schoolbooks to free GP care, is now available to everybody.

So why are people still complaining? They point to emigration but fail to mention that as many people return as emigrate every year. Emigrants go largely for the experience, to enjoy the social side of it, and to see a bit of the world. More luck to them, but they should remember they got a great start here, a lot better than that given to previous generations who were unceremoniously pointed at the boat.

As for buying a house, it is as hard now as it was then. But back then we bought what we could afford where we could afford it, or we learned to lay a few blocks and we bought second-hand fittings and furniture. Carpets and fitted kitchens waited until we had the money. We lived in one room until we could finish another one, and we didn’t take holidays or city breaks. We didn’t consume expensive takeaways and ready meals, we worked second jobs at weekends, and we didn’t sniff a billion euro of coke up our noses while sipping €4 lattes and spreading smashed Avocados on our toast.

My hope for 2025 is that we might hear less complaining, and see more people enjoying the fruits of living in a modern, prosperous country – a place far removed from what we endured a few decades ago. People need to stop the moaning and count their blessings.