A shocking survey has revealed that 1.6 million Irish adults are left with a paltry €50 or less to spend at the end of the month, once all the necessary bills are paid.
The figure has shown an increase of a massive 230,000 people falling deeper into the trap of having little or no disposable income.
The latest results from an Irish League of Credit Unions slows that almost 1.6 million adults have spending money of just €50 per month. This figure is up from 1.36 million in October.
High energy prices and a tough budget are joining the onslaught of tough-to-pay bills for the Irish people.
The survey also revealed that close to half of adults (46 per cent) are struggling to pay their household bills on time.
Seventy per cent are unable to save money and 40 per cent have found themselves scrimping on household items, primarily food, in order to pay energy bills.
There has been a significant increase in the number of people who have little or no money to spare.
Jim Walsh, spokesman for the Society of St Vincent de Paul, told the Irish Examiner his organisation was not surprised by the figures. “Unfortunately, we expect things to get worse as people start to feel the full effects of the budget.
“Anecdotally, the number of calls for help to the society in 2012 would appear to have gone up, although final figures aren’t in yet.”
On top of all this, people now have the property tax looming on their budget too.
Eight in 10 Irish people fear this year will be even tougher than last year.
