Irish Examiner View: Budgeting a worthwhile exercise for families

CSO's Household Buget Survey will examine the nation's spending habits
Irish Examiner View: Budgeting a worthwhile exercise for families

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Opinion may vary on whether the cost-of-living crisis of recent months has peaked, receded, or just continues to burden us, but the Central Statistics Office is keen to collect data on that very topic.

This week we learned that the CSO is to ask selected households to track how much they spend across a period of 14 days as it examines the nation’s spending habits. 

This is the Household Budget Survey, which the CSO now plans to run annually instead of every five years.

“Collecting your receipts and keeping a spending diary makes it easier to track spending,” senior statistician Ger Doolan told this newspaper.

“Previous participants of this survey have told us they get a better sense of their spending habits, and given the impact of inflation on food, heating, and other outgoings, the challenge is timely.”

CSO representatives have stressed the importance of accurate information in building a picture of what we spend our money on. 

Across all walks of life such data is important in planning for the future and adjusting forecasts and budgets.

What is also implicit in such data is the possibility of glimpsing Ireland as it changes, as the information gathered offers a snapshot of a country’s evolving tastes. 

In technology, for example, eight years ago the costs of mobile phone and broadband services were captured in these surveys for the first time — a far cry from 1975, when the price of telegrams formed part of the data gathered.

Though not as important for the national picture, keeping a record of family expenditure has the potential to improve that family’s budgeting overall. 

By detailing what is being spent in a household it becomes easier — in theory at least — to identify where money is being wasted and how it might be used more efficiently.

For the CSO’s budgetary work, a certain number of families are selected to represent the spending habits of the country at large.

However, there is nothing to stop any family from making a concerted effort to itemise its spending over a two-week period, as happens in the survey. 

Such an exercise would surely be a useful one.

Boeing Concerns

In the deep chill of January, readers’ minds may drift to thoughts of summer holidays, weekends away, and city breaks — hopping on a flight to get some sunshine, when that commodity is in short supply here at home.

News from the US may not encourage booking those flights, however.

The Federal Aviation Administration has grounded 171 Boeing Max 9 planes after a door plug — a panel on the aircraft — blew off an Alaska Airlines Max 9 shortly after it took off from Portland, Oregon.

Unsurprisingly, other airlines with the same type of plane checked those when the news broke. 

United Airlines said it had discovered loose bolts on Boeing 737 Max 9 planes in its fleet — “instances that appear to relate to installation issues in the door plug. For example, bolts that needed tightening”.

United Airlines immediately cancelled over 200 scheduled flights and said that it expected more “significant cancellations” in the coming days.

A gaping hole where the paneled-over door had been at the fuselage plug area of Alaska Airlines Flight 1282. Picture: National Transportation Safety Board via AP
A gaping hole where the paneled-over door had been at the fuselage plug area of Alaska Airlines Flight 1282. Picture: National Transportation Safety Board via AP

There can be no short cut when it comes to safety and, while those cancellations may inconvenience many travellers, it is obviously better to be safe than sorry.

What are the implications for Ireland? Apart from those travelling to the US who may miss connections as a result of those flight cancellations, Ryanair may see an impact in terms of aircraft supply.

While the budget airline does not have Boeing Max 9 craft in its fleet, it is expecting up to 57 airplanes from Boeing in time for the summer rush.

But if the investigations arising out of the Max 9 issues delay Boeing’s manufacturing processes, then Ryanair may not receive all of those planes.

Little wonder that Ryanair’s chief executive, Michael O’Leary, was critical of Boeing in comments yesterday: If Ryanair is operating with reduced capacity for the summer, then there are serious implications for its bottom line.

Not to mention the implications for thousands of Irish holidaymakers. 

In a roundabout way, then, that Alaska Airlines malfunction outside Portland may yet have an impact on the plans of many Irish people seeking the sun this summer.

Sporting legacy

The passing of Franz Beckenbauer last Sunday registered with many readers, not least because of what that name conjures up.

Beckenbauer captained West Germany to World Cup victory 50 years ago, and won the European Championship in 1972. 

He enjoyed plenty of success with Bayern Munich, winning three European Cups, and he also starred later for the New York Cosmos. 

He cut an elegant, upright figure in games, gliding over the ground, and revolutionised the role of the sweeper by attacking from deep.

Franz Beckenbauer
Franz Beckenbauer

In time, Beckenbauer managed his country to victory in the 1990 World Cup as well, but he was also embroiled in controversy: In later life, he was investigated in connection with alleged fraud relating to bids made by countries to host the 2006 World Cup.

Those who can recall that 1974 World Cup will no doubt prefer that iteration of Beckenbauer. 

Not as the bespectacled manager or embattled administrator, but as Der Kaiser — the captain in pristine white jersey, dark shorts, and white socks, stepping out past Johann Cruyff, finding clubmate Gerd Muller with a clever pass, lifting the golden trophy, adored by his home crowd of Munich.

Not a bad way to be remembered.

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