55% of households are now struggling to pay household bills, according to a survey published today by the Irish League of Credit Unions.
More than one in four also said they had very little money left each month after all their household expenses were accounted for. A third of people also said they were likely to give up their private health insurance if there is a further fee increase.
The survey of 1,000 consumers found that 83% of people fear that 2012 will be an even more difficult financial year than last year. 70% felt the amount they had left after paying essential bills had fallen in the last 12 months, with close to half those surveyed finding it difficult to save.
Increases in energy and fuel costs have negatively impacted on the spending ability of 86% of Irish consumers. 9% are likely to give up private health insurance this year while a further 31% said they would give it up if there is a further fee increase.
The Irish League of Credit Unions found that close to 8% of the population now say it is impossible to cover their bills each month.