Nearly half the population can only cover basic needs financially, according to report

Nearly half of the population (46.3%) only have the financial means to cover their basic needs, according to a new study by the Urban Research Institute of Barcelona (IDRA).

Just over one in ten, 10.2%, barely manage to cover the essentials, while over a third (36.1%) cover them but cannot afford any other significant expenses.

Another third (34.9%) are able to pay for everything they need, but save very little, while one in eight people (12.5%) ​​live comfortably and are able to save.

Meanwhile, 3.1% of people are unable to meet their essential needs.

Those who live in rented accommodation face a worse economic situation.

Nearly two in three (65.3%) tenants can, at best, only secure the bare minimum, compared to 44% of homeowners.

A fifth of people (21.6%) either fail to meet these needs or barely manage to do so, compared with a proportion nearly three times higher than that found among homeowners (8%).

These findings are based on a survey of 1,850 people conducted last July.

Negative future outlook

Outlooks for the future are also negative among respondents.

Specifically, 78.3% are concerned about being unable to save, 74.5% about not having enough money for retirement, 72.2% about struggling to make ends meet, and 65.5% about not having a decent place to live.

While only one in four people rate their household situation poorly, nearly three in four fear they will not be able to make ends meet (72.2%).

When it comes to cutting expenses in households that lack comfortable living conditions, 35.2% reduce spending on climate control (heating/cooling), 20% on healthy food, and 16.2% on food in general.

In leisure and recreation, the majority choose to reduce spending on vacations (68%), home improvements (46.4%), electronic devices (43.2%), and culture, sports, and leisure activities (34.4%).