A TOTAL OF 1.8 million people have €100 or less left in disposable income after they have paid their essential bills.

However the number of people who are left with no money at all has dropped significantly since earlier this year. The amount of disposable income left for an average adult is now €172 per month, up almost a tenner from May of this year.

The regular ‘What’s Left’ tracker survey by the Irish League of Credit Unions also found that after years of financial apathy, people are beginning to shop around more for cheaper insurance quotes, with 50 per cent of respondents saying they have switched insurance provider in the past year.

Almost 40 per cent of people have had to put off paying essential bills on time because they cannot afford to do so.

The percentage of people who say they are saving money every month is now at almost 4 out of every 10, with the average amount increasing to €187.

However the survey noted that with an increase in many household bills likely to happen over the winter months – including an increase in prices from all of the main gas suppliers from the start of October – it will be more difficult for households to continue to save as much money.

It is the second tracker survey of the year published by the Irish League of Credit Unions looking at household finances.

Breakdown of household spend

The survey found that the average net income after tax for a household is €2,604. The average breakdown of household spend per month – only taking into account people who pay each bill – is:

Household/utilities

• Mortgage: €817
• Rent: €458
• Electricity: €84
• Gas: €66
• Oil: €88
• Other heating options: €49
• Bin charges: €26

Home entertainment/telecoms

• TV: €44
• Mobile phone: €36
• Landline: €33
• Internet: €25
• Music downloads: €32
• DVD rentals: €15

Loans/insurance/pension

• Credit card payments: €268
• Personal loan repayments: €262
• Car insurance: €62
• Pension contribution: €168
• Health insurance: €137
• Home insurance: €47
• Life insurance: €59
• Pet insurance: €37

Groceries

• Groceries: €338
• Nights out: €72
• Take-away/eating out: €51
• Lunch: €54
• Alcohol at home: €38

Transport costs

• Petrol/diesel: €144
• Car tax: €68
• Public transport: €46

Children

• Third level education costs: €249
• Childcare: €285
• School €87
• Extra-curricular: €61
• Pocket money: €71

Personal expenses

• Clothes/shoes: €58
• Cigarettes: €122
• Other expenses: €100
• Beauty/cosmetics: €27
• Sports: €46

Over 1.3 million adults have less than €50 left after monthly bills >

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