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| One in four Europeans say their financial position is ‘precarious’ | One in four Europeans say their financial position is ‘precarious’ |
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| Study by anti-poverty NGO shows more than half feel at financial risk and 80% have already made hard spending choices | Study by anti-poverty NGO shows more than half feel at financial risk and 80% have already made hard spending choices |
| One in four Europeans describe their financial position as “precarious”, more than half see a serious risk it will become so over the coming months, and 80% have already been forced into hard spending choices, according to a survey. | One in four Europeans describe their financial position as “precarious”, more than half see a serious risk it will become so over the coming months, and 80% have already been forced into hard spending choices, according to a survey. |
| As the cost of living crisis, driven by high energy prices, rampant inflation and Russia’s war on Ukraine, tightens its grip, the six-country survey for the French anti-poverty NGO Secours Populaire painted an alarming picture of “a continent on the brink”. | As the cost of living crisis, driven by high energy prices, rampant inflation and Russia’s war on Ukraine, tightens its grip, the six-country survey for the French anti-poverty NGO Secours Populaire painted an alarming picture of “a continent on the brink”. |
| More than half (54%) of more than 6,000 people across France, Germany, Greece, Italy, Poland and the UK told the pollster Ipsos their purchasing power had fallen over the past three years – mostly due to higher food, fuel, heating and rent bills. | More than half (54%) of more than 6,000 people across France, Germany, Greece, Italy, Poland and the UK told the pollster Ipsos their purchasing power had fallen over the past three years – mostly due to higher food, fuel, heating and rent bills. |
| The hardest-hit country was Greece, where 68% of respondents said their spending power had fallen “a lot” or “somewhat” since 2019, followed by 63% in France, 57% in Italy, 54% in Germany, 48% in Britain and 38% in Poland. | The hardest-hit country was Greece, where 68% of respondents said their spending power had fallen “a lot” or “somewhat” since 2019, followed by 63% in France, 57% in Italy, 54% in Germany, 48% in Britain and 38% in Poland. |
| About 80% of respondents said they had already been forced to make significant compromises, including cutting down on travel (62%) or heating (47%), borrowing from friends or family (42%), finding a second job (40%) and skipping a meal (29%). | About 80% of respondents said they had already been forced to make significant compromises, including cutting down on travel (62%) or heating (47%), borrowing from friends or family (42%), finding a second job (40%) and skipping a meal (29%). |
| Across the six countries, 64% said they were now “often” or “sometimes” unable to decide what to cut next as they had already cut what they could, 28% said they were overdrawn by mid-month, and 27% often or sometimes feared losing their home. | Across the six countries, 64% said they were now “often” or “sometimes” unable to decide what to cut next as they had already cut what they could, 28% said they were overdrawn by mid-month, and 27% often or sometimes feared losing their home. |
| On average, about 27% of respondents across the six countries said their financial and material situation was “precarious”, defined as “one unexpected expenditure could change everything”, while 55% said they had to pay attention. | On average, about 27% of respondents across the six countries said their financial and material situation was “precarious”, defined as “one unexpected expenditure could change everything”, while 55% said they had to pay attention. |
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| The future looked worse for many, however: a majority of Europeans (55%) said they felt they faced a very or somewhat significant risk of falling into precariousness over the coming months – with one in five (17%) assessing the possibility as very high. | The future looked worse for many, however: a majority of Europeans (55%) said they felt they faced a very or somewhat significant risk of falling into precariousness over the coming months – with one in five (17%) assessing the possibility as very high. |
| Italians and Greeks were the most worried, with 70% and 68% respectively very or somewhat concerned. About 47% of respondents in Britain said they felt the risk of precariousness was significant, and 42% of those in France. | Italians and Greeks were the most worried, with 70% and 68% respectively very or somewhat concerned. About 47% of respondents in Britain said they felt the risk of precariousness was significant, and 42% of those in France. |
| Parents in particular were feeling the strain, the survey showed. A large majority (72%) across the six countries said they had cut back on their own leisure activities (76%), hair and beauty treatments (72%) and clothes budget (72%) in order to preserve their children’s quality of life. | Parents in particular were feeling the strain, the survey showed. A large majority (72%) across the six countries said they had cut back on their own leisure activities (76%), hair and beauty treatments (72%) and clothes budget (72%) in order to preserve their children’s quality of life. |
| Almost half of parents (48%) across the six countries also said they regularly cut back on their own food to feed their children, while 66% said they had been forced to rein in their children’s activities, including outings and holidays. | Almost half of parents (48%) across the six countries also said they regularly cut back on their own food to feed their children, while 66% said they had been forced to rein in their children’s activities, including outings and holidays. |
| On average, 49% – including 50% in the UK – of parents said they were worried about not being able to meet their children’s needs in future, while 33% said they were already unable to ensure their children’s diet was as varied as they would like. | On average, 49% – including 50% in the UK – of parents said they were worried about not being able to meet their children’s needs in future, while 33% said they were already unable to ensure their children’s diet was as varied as they would like. |
| The study showed striking differences between the countries in terms of which groups were deemed most at risk of falling into poverty: retirees in Germany (61%), younger people in Italy (57%), and in the UK, single-parent families (55%). | The study showed striking differences between the countries in terms of which groups were deemed most at risk of falling into poverty: retirees in Germany (61%), younger people in Italy (57%), and in the UK, single-parent families (55%). |