ALMOST half of households in the Mid West have cut grocery spending due to loss of income, according to the latest figures released by the CSO.
Its latest national household survey revealed that about 40 per cent of those surveyed in the Mid West were having difficulty managing bills and debts, with 50 per cent reporting a loss in income in the last year.
A total of 39 per cent of respondents stated that job loss was the main cause of their lack of income; 14 per cent said their hourly pay had been cut and 21 per cent reported a reduction in working hours.
A massive 87 per cent of Mid West households who were experiencing financial difficulty cited utility bills as their main additional cost in the last 12 months, while 28 per cent blamed school or college costs.
An alarming four out of five households in the region said they had cut back on at least one area of spending to help resolve financial difficulties.
When asked what areas they had cut back on, 48 per cent said they were spending less on groceries, 62 per cent had slashed clothing and footwear spending and 24 per cent had dropped health insurance cover.
Over half of households had cut back on holidays abroad and 37 per cent had either sold a car or reduced car usage.
One in five households had implemented five or more cutbacks.
The CSO also found that almost one third of families in the Mid West had used savings to pay bills; 12 per cent sought financial assistance from relatives or friends and five per cent had to work longer hours or take a second job.
On average 14 per cent of households in the region missed one or more mortgage payment in the last 12 months, while one in five were unable to pay rent on time.
One in ten households surveyed said they were very concerned regarding their level of debt over the last 12 months.
