April 15th, 2011
A new survey shows just how badly Irish people are struggling to make ends meet.
The research from the Irish League of Credit Unions has found one in five have just 70 euro left each month after paying bills, and a third see no future for themselves or their family in Ireland.
This study’s been labeled the ‘what’s left tracker’ and is the first research of its kind from the country’s credit unions.
7 per cent of people said they have nothing left to live on once they’ve paid their bills.
Even worse, 6 per cent or 210 thousand people surveyed across the country, say their income doesn’t even cover their bills.
Despite some reports that people are putting more of their money aside during the downturn, the tracker shows almost half can’t do that because they’ve no money to save.
Chief Executive of the ILCU Kieron Brennan says it’s clear many Irish families are seriously struggling.
With rising mortgage and fuel costs, and cuts in social welfare, he believes this year will be one of the most difficult for Irish people trying to manage their finances.