Survey shows 55% of consumers struggling with bills

More than half of consumers (55%) say they are facing a serious struggle to pay bills on time, according to a study from the Irish League of Credit Unions (ICLU).

"The study shows that overall disposable income remains under pressure for the majority of Irish people," the ICLU said.

"Seventy per cent feel that the amount that they have left over after paying the essential bills each month has fallen during the last 12 months with working adults in particular finding that their disposable income is decreasing."

Some 28% of people also said they had "very little left" once all their household expenses were looked after, the survey indicated.

The survey, the fourth and final spending survey by the ILCU, confirmed that increases in the cost of health insurance, oil and gas bills are having a severe effect on Irish consumers, with 83% of those polled fearful that this year will be even worse financially than last.

Some 9% of health insurance customers polled said they will have to give it up this year, and a third (31%) say they will be forced to do likewise if there are any more price increases.

"In each of our trackers in 2011, we saw disposable income continue to shrink for the population and we will be looking to see if this trend continues throughout 2012," said ILCU CEO Kieron Brennan.

"As expected, fuel and energy price increases have had a significant impact on the spending ability of the Irish population.

"The increasing costs of private health insurance is a big concern for many families and our results show that a number of people will have to give it up this year because they can no longer afford it.”

When it comes to savings, almost half of respondents said they find it very difficult to put any money aside, and only a third said they can manage to save anything at all.