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OVER HALF of Irish homes are forced to go into debt to pay essential household bills, while a similar amount have to borrow from friends or family – or spend their savings – simply to make ends meet, new research has claimed.
Data from price comparison service uSwitch found that 56 per cent of Irish homes said they had used credit cards, overdrafts or the services of doorstep lenders to meet the costs of their everyday household bills in the last 12 months.
A slightly higher number, 57 per cent, told a survey that they had dipped into savings, or borrowed money from family and friends to meet their essential bills.
Nearly half of respondents, 43 per cent, said they had resorted to using facilities on credit cards or taking out a bank overdraft to pay their essential bills, while nearly one in ten were taking out formal bank loans simply to pay their bills.
Electricity bills emerged as those which caused the most stress for householders – with 62 per cent of households saying they felt under major financial pressure from energy costs, particularly as most providers increase their usage charges.
63 per cent of respondents to uSwitch’s survey said rising energy costs had taken their toll on the level of disposable income they had, and had left them with little or no cash to spend after bills were taken care of.
“The continued hikes in energy prices are having a major effect on Irish households and their finances,” said Eoin Clarke of uSwitch.ie.
“It is important to ensure that consumers are paying the lowest possible price for their energy bills and also cut down on any unnecessary energy usage in order to save some money.”
Clarke suggested that by shopping around and by opting to pay bills through direct debit, customers could cut over €250 a year from their electricity costs.
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i feed myself on €20 a week, i cant blame anyone but myself for my debts, pity im being blamed for others’ along with my own, i could so with a new pair of shoes
More austerity to come and rememeber most of you voted for it in the austerity treaty.
As I see it 25% or less actually voted it in!! But agreed more to come!
Good point shane. And the way things are looking the same people are going to vote FF back into power in the next general election. What a great bunch of lads we are !
What about the poorest of society who cannot get a loan to pay the bills, and who would give them a credit card, not something that Hogan and the Government would take into consideration when taxing them for having a roof over their head or a cup of water to drink.
You think anybody cares about the poor in society?? Of course they don’t. We have a minister for “social protection” who obviously isn’t aware that society extends below the middle class and the public service. All these price rises and tax increases hit the less well of way harder than middle and high earners but nobody cares.
This isn’t really news is it? Most of us have been struggling 3-5 years now and in that time there has been 2 increases in the cost of our lecky bill! I won’t be getting into financial trouble or debt over it if i can’t pay, I’ll break out the candles, then the hungry state owned power company losses a customer and money.
As for “Clarke suggested that by shopping around and by opting to pay bills through direct debit, customers could cut over €250 a year from their electricity costs.” that is fine if you have money in your account after paying for overpriced fuel, insurance, tax, rent/mortgage, food, phone bill, heating, clothes and even then the esb and eircom are the only real suppliers of electricity and land line communications so the other companies are still being restrained by the state on the bottom prices they pay for the supply of electricity and line rentals!
We are just slaves under the guise of being free!
I’m kinda considering those people a bit fortunate.
I’ve never had a credit card, no overdraft, savings ? ? What are they ?
And asking family and friends, sure they’re struggling just the same.
The public sector are starting to face real austerity now. Maybe this will be the game changer we’ve all been waiting on.
I think you mean the private sector. Public sector are protected and don’t have to worry about how they’ll get by after retirement
And does anyone think that these statistics will make any difference to what this government does, not a chance, as long as they have their big salaries and expenses they don’t care, they will never have to borrow to pay bills or buy food.
37% of statistics are made up.
and 70% are gathered by surveying people, in places, age groups, etc. that will get the results you actually want.
that should say 60%
Do you mean 63?
@Justin nope 3% are actually taken correctly……
This headline will be 70pc of Irish homes ‘go into debt to pay essential bills’ if they cut the pay of 300k public servants
It great to see our country run my idiots who screw money from the state by so called expenses
Ah we’re already there, my partners a public servant and we can barely put food on the table and are thousands in arrears. Whatever they cut again we’ll just have to take off the mortgage again. If they want to kick us out fine, be glad to give the keys back!
Same situation in our house Karolyn. Mortgage & ESB in arrears, heating oil ran out last month so we keep warm with blankets & extra jumpers. Yes I am one of those overpaid public servants who struggles to keep the wolf from the door.
As soon as we stop looking at private v public we may make some progress. But as usual divide & conquer wins out.
And DD is fine until airtricty estimate a bill at 1000 and go for payment
I have 50 euro left in my bank account and still another 2 and a half wks left before I get paid. Im grateful that my bills are paid and I have a roof over my head but any more increases and im screwed….food, sure thats a luxury these days
What crap paul lanigan.
Surely if you run up a bill that you can’t pay, then you’re in debt.
You don’t have to run off somewhere and arrange a bank loan or pay by credit card, the bill is a debt in itself.
Apart from being nonsensical in the first place….. peddling headline grabbing statements just to get some coverage is poor show by the company
Can I ask where the 56% came from, how many people took the survey, locations, etc…. Would it be possible to get these details with a headline like that.
Did someone break your abacus?
have your say