HALF of all Irish adults are relying on their personal savings to cover day-to-day expenses.
At least 50pc of adults surveyed by iReach said they were dipping into their rainy day savings.
Another 20pc said they needed to adjust their lifestyle to their new income level, a further 30pc feel it is the only way they can survive.
The spending habits survey found that females were prone to splashing out beyond their means and those aged 18 to 24 years were found to be most affected by this.
A total of 27pc said that they were saving to purchase a house, 24pc were saving for a holiday while 21pc were saving for their children's future.
According to iReach's Monthly Consumer Sentiment Tracker, in January of this year, 38pc of adults felt the economy was getting worse, while a further 38pc felt that the economy was bad but had stabilised.