Nearly half of workers are barely scraping by each week

In the run up to Christmas, the typical Joe who did not cause the financial crash or go mad is taking stock of his situation. He happens to have a job paying €26,000 per year or a gross weekly income of €500.

Out of that he has €75 of statutory deductions, tax , PRSI and USC leaving him with €425 net take home pay (reference Deloitte tax calculator). He then has to fork out €100 to his landlord for his flat, thus leaving him with €325.

On his way home from work on pay day, he puts €50 of petrol in his car, hoping that it will get him through the working week. While at the petrol station he buys two bags of coal to keep his flat warm at a cost of €38. It being the weekend, he buys a newspaper costing €2 and gets €20 phone credit. He can’t afford to socialise or go on holidays so he feels that he deserves to treat himself to a bottle of wine for €10.