One in five Irish adults manage to save over €125 a month despite rising cost of living
And one in 10 adults are able to save more than €500 a month, according to the survey for AIB.
Irish households have €164bn in savings, but most of this money is sitting in low-interest accounts earning little or nothing.
In the first quarter of the year, people saved 14pc of their disposable income, according to Central Statistics Office data.
The research, conducted by Opinions, found that three-quarters of adults are mostly managing their finances though a mobile phone app. This is particularly the case for those between the ages of 25 and 44.
The survey of 1,000 adults found that most people have never invested any spare cash they have, as opposed to putting money in a savings account. They cite a lack of knowledge as one of the main barriers to investing.
Most respondents to the survey said that just saving and not investing could be a missed opportunity to grow their money.
Among those who have never invested, four in 10 said a step-by-step guide in their banking app would help them to feel more confident.
A similar proportion said the ability to invest a small amount of money every month instead of a lump sum would attract them to start investing.
For those considering a medium to long-term financial goal, the main motivations for saving include building a financial safety net, renovating their home, supporting their children and saving for a holiday of a lifetime, the survey found.
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AIB's head of wealth and insurance Ciara Ryan said: 'If you are saving for something that is five years away, or more, then investment is a good option to consider, as it can deliver higher returns than saving.'
The bank has launched its first fully digital investment advice tool for customers via the AIB life hub on the bank's mobile app.
The new service allows customers to access investment guidance and products in a way that is convenient for them.
The new service will offer access to regulated investment advice and appropriate products while ensuring customers are offered guidance on making investments that are suitable for their risk appetite or needs, according to AIB.
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