Summary of main findings
 In all, 79% of households cut back their spending on at least one of the listed
items as a result of the economic climate in the two years before the survey.
 More than half of households cut back their spending on groceries and more
than half cut back spending on going out.
 Almost two thirds of households cut back their spending on clothing and
footwear.
 Spending on health insurance was reduced by 15% of households and 11%
of households cut back spending on pension contributions.
 One fifth of households delayed or missed paying their bills in order to meet
their outgoings on basic goods and services. One in ten delayed or missed
loan repayments and a further one in ten delayed or missed paying their
credit card bill.
 In the two years prior to the survey 45% of households spent some or all of
their savings and 62% reduced the amount being saved.
 One in ten households borrowed money from family or friends to pay for
basic goods and services in the two years prior to the survey.

33% of households with nobody working have had to cut back on foreign holidays. This compares to 59% for working families.

A recent survey completed by people on Falcon Holidays’ online database and social media showed that 98% of them plan a holiday abroad in 2012 – and two-thirds of those surveyed might take two or more breaks away during the year. The survey results were announced at the launch of Falcon Holidays’ new Summer Sun 2012 second addition brochure.

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The CSO has released this today.

http://cso.ie/en/media/csoie/releasespu ... q22011.pdf


33% of households with nobody working have had to cut back on foreign holidays. This compares to 59% for working families. Going out has been cut back in 44% of non working households and 67% in working households.

It's a similar story when breaking it down by age. 72% of 18-34 year olds have had to cut down on going out comparedd to 38% of over 55s.

33% of households with nobody working have had to cut back on foreign holidays. This compares to 59% for working families. Going out has been cut back in 44% of non working households and 67% in working households.

It's a similar story when breaking it down by age. 72% of 18-34 year olds have had to cut down on going out comparedd to 38% of over 55s.

Pubs and restaurants are full of over 55s. Its a same story in the other categories shown, they have not made the same cutbacks as other groups.

Totally agree - this recession/depression has had a very uneven effect on different generations. The people with large debts - mainly in the 30s and 40s age group are really struggling, as are people in their 20s who are trying to get into the workforce. Over 50s generally have little or no debts and if they have managed to stay in the workforce have generally been untouched by the recession. As for the over 65s they are untouchable in the view of government it seems.

Pubs and restaurants are full of over 55s. Its a same story in the other categories shown, they have not made the same cutbacks as other groups.

Another perspective is that the over 50s are traditionally the people who have built up savings. You expect them to be better off -- they've been working for longer. Except now, a lot of them will have had their savings wiped out by all those second home purchases and other property "investments". They may not be under water the same way as the 20-40 years olds, but the set aside money doesn't exist any more, and they are facing into a poorer future than they had planned. Also, they have a lot less time to make up the losses than somebody 30 years younger.

Accident of birth compounded by a rigging of the game.

Totally agree. Nevertheless, it's no excuse for intergenerational envy or scorn. McWilliams rightly always said the Irish property game was a huge transfer of wealth from the young to the old. Unfortunately a lot of the "old" pissed it away too.