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Most Italians eating into savings every month

80% living paycheck to paycheck, study finds

31 January, 12:33
Most Italians eating into savings every month (ANSA) - Rome, January 31 - Over 60% of Italians are eating into their savings every month amid the economic crisis, a study by the Eurispes research institute said Thursday. "Some 60.6% of Italians, three out of five, are forced to eat into their savings to get to the end of the month, and 62.8% have great difficulty coping with the fourth, if not also the third, week," the research group said. The study, which called the start of 2013 "bleak", said 79.2% of survey responders are unable to put money aside, "which means only one in five is able to save". Italians, whose penchant for saving has been a pillar of the national economy, are being battered by a recession and the strain of government austerity measures. Those aged 45-64 were struggling the most economically, the study said.

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