50% using savings to survive

HALF of Irish adults are dipping into personal savings to cover day-to-day expenses, a survey has found.

According to a study carried out by iReach, 50% of adults are spending money they initially had saved for a rainy day.

Of those who responded to the survey, 20% said they need to adjust their lifestyle to their new income level. A further 30% feel it is the only way they can survive.