THE DAILY HARDSHIP householders are facing is reflected in a new survey by the Irish League of Credit Unions (ILCU).

The ‘What’s Left’ disposable income tracker index shows that 47 per cent of working adults are late paying at least one household bill a month. Almost half also feel they don’t have enough money left over at the end of the month to submit to any type of regular savings scheme. These were the stark figures:

• There was a 2 per cent increase in those left with only €70 per month after essential bills had been paid;
• There were fewer adults left with 6-10 per cent of their income after essentials;
• But there were more left with 1-5 per cent of income after essentials;
• Those left with less than 5 per cent of their income after essentials are paid for no longer see a future for themselves and their families in Ireland;
• Almost half – 47 per cent – of Irish people late paying at least one bill a month;
• A total of 82 per cent of those with less than 5 per cent of their income left after essentials believe that with any further changes to social welfare/income tax, they will no longer be able to cope;
• The April ECB rate increase led to much concern – 21 per cent of those surveyed believed another increase would have a serious impact on their ability to pay bill – 6 per cent said they simply would not be able to pay their mortgage and utility bills.

Kieron Brennan, CEO of the Irish League of Credit Unions, said that the ‘What’s Left’ Disposable Income Tracker showed that, like the ILCU’s first such tracker in March, ordinary workers are being badly hit by increasing household expenses. He said:

In the past three months since the March ‘What’s Left’ tracker, there has been an ECB rate increase and the announcement that charges for water, property and septic tanks are to be introduced at the beginning of the New Year. Discussions are also ongoing as to the fate of premium rates for Sunday workers around the country and there has also been a recent announcement about a possible increase in energy bills per year per household.

Even more people with only a small percentage of their income left feel like there is no future for themselves or their families in Ireland.

How are you keeping on top of your household expenses? Have you come up with any clever ways of saving money? We’d like to hear your suggestions – email to tips@thejournal.ie marked ‘Household budget’.