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1.8m of us have just €100 to live on after battling to pay bills

MORE than 1.8 million adults have €100 or less to spend after paying their monthly bills, a new survey has indicated.

Of that number, some 630,000 people say they have no money left at all once they have paid off essential items.

Research by the Irish League of Credit Unions (ILCU) showed half of all adults are also struggling to pay their bills on time.

More than four-in-ten households have had to borrow money to pay electricity, grocery and other monthly costs in the past year.

The financial squeeze on families has meant only 30pc of adults are able to save any money.

The number of people with €100 or less of disposable income has risen by 35,000 since June, the figures show.

A total of 52pc of those surveyed feel that the introduction of the property tax is unfair since they already paid stamp duty.

In addition, 96pc of consumers are worried about the impact of the 2013 Budget.



Cutting

An astonishing eight-in-10 consumers are worried they will not be able to pay energy costs this winter.

Conducted by iReach Market Research, the latest 'What's Left' tracker survey found that one-in-five adults will be drastically cutting their spending this Christmas.

ILCU chief executive Kieron Brennan said the results were a matter of huge concern for the economy.

He said: "For many, the challenge to simply survive continues.

"Disposable income continues to decrease with an increase of 35,000 in the numbers with just €100 or less at the end of the month."

Mr Brennan said the figures show half of adults are now living month-to-month.

He added: "The increased cost of energy has meant that household heating and electricity bills are on the rise and will hit people hard this winter and, of course, there is concern over what Budget 2013 will contain and how it will impact already stretched incomes."

Mr Brennan warned against families spending beyond their means at Christmas.

The results of the new survey come only weeks ahead of what will be another austerity Budget in December.

ILCU questioned 1,000 adults nationwide between the ages of 18 and 65 last month about their financial situation.

The television licence (17pc) and bin charges (10pc) were the most likely bills to be delayed when money is tight, the survey showed.

One in ten of those who sought financial support turned to a money lender, while 58pc were able to get help from family or friends.

comurphy@herald.ie


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