Supporting you through the Cost of Living crisis

With the rising Cost of Living, people are feeling the pressure financially. Find out how we are here to support you and your communities.

In supermarkets, in restaurants, across day-to-day essentials and in your home energy bills – it's hard to escape higher prices right now.

At AIB, we understand that you’re feeling the pressure. Increased inflation coupled with slow wage growth has left people uncertain about their finances, with many making tough decisions.

That’s why we have created a support resource, which we’ve filled with guides and tips on planning, budgeting, money management and financial support to help you stay on top of everyday spending, cut back where you can, and take greater control of your finances.

If you need a bit more help, we’re on hand to talk, offer support and guidance, and work through solutions together.

Woman researching the cost of living crisis on her phone.

Many of us have been affected by the Cost of Living crisis, but what exactly does it mean?

A Cost of Living crisis is when basic necessities such as food, housing, energy, healthcare, and transportation rise in price much faster than the average household income.

This is mainly due to inflation. You may hear the term 'inflation' regularly at the moment. Inflation measures how fast costs have risen yearly expressed as a percentage. When inflation goes up, it pushes the prices of goods and services up, which is why the national Cost of Living has increased, and so many of our customers are feeling the pinch right now.

On top of this, we've all seen our energy bills increase over the last year. As countries began to recover after the pandemic, the demand for energy increased but could not be met due to a supply shortage. Ongoing world conflicts have also caused supply-chain issues, pushing up the prices of our utility bills and making them increasingly difficult to afford.

The global supply chain issues have also caused the price of essential everyday items to increase, like bread and milk. This is why so many of our customers are spending more on necessities, leaving them with less disposable money and feeling like life is expensive right now.

We understand that you may need help to make ends meet right now. If you, too, are finding things tough, we're here to help.

7 of 10 People

are worried about their finances

3 of 10 People

are feeling anxious about the future

What we’re doing to support you and your community

Building a better budget

Budgeting is always important, but it becomes even more crucial as life gets more expensive. A budget can help you manage your financial situation better.

Explore our budgeting resources

Planning your finances for the better

When prices are rising and expenses are increasing, planning becomes crucial. 

Learn more about planning

Sponsors of GOAL Mile

We continue to support GOAL Mile as it reaches its 40th anniversary. Every year, GOAL Mile occurs throughout villages, towns and cities across Ireland and virtually worldwide.