A new survey released by the Central Statistics Office (CSO) into spending amongst Irish households’ shows further evidence of the difficulties facing the many people. The pilot study included in the Quarterly National Household Survey for the second quarter of 2011, showed that almost 80 per cent of Irish households have cut back on some item of spending as a result of the economic climate in the two years before the survey.
“These results are not surprising to the SVP” stated Prof John Monaghan, National Vice President of St Vincent de Paul. “Our spending on food and missed bills increased greatly last year, most calls for help coming from families with children and the problem is worse for those on welfare.” “These figures could get much worse when the full impact of the December Budget hits, which has not happened yet.”
The report also showed that savings have taken a hit, with 45 per cent of households spending some or all of their savings and 62 per cent reducing the amount being saved. One fifth of households delayed or missed paying their bills in order to meet their everyday outgoings, while one in ten delayed or missed loan repayments or their credit card bill.
Young couples with families have been affected most with three-quarters in the age category of under 55 years cutting back on clothing and footwear, compared with just half amongst the over 55s.
The survey also pointed out difficulties among the unemployed; with four out of every five households reporting that they had cut back their spending on groceries in the previous two years. Moreover, 30 per cent of these households had borrowed money from family or friends to pay for every-day items, while half of such households had missed paying household bills and a quarter had missed loan repayments.