One in three Andalusian families live on under €2,000

A new report has revealed that one in three of families in Andalusia are living on less than €2,000 a month. This figure is alarming and shows that many households in the Andalusia region struggle to cover their basic costs.

The study examined the income, savings, spending, and habits of Andalusia. The study found that many families are struggling to meet their financial obligations. Only 14% save more than 30%. Nearly one-fourth of people do not save any money. These families can be hit hard by any unexpected costs, such as a medical bill or car repair.

The rising prices of goods and services also force people to make cuts. Over half the people surveyed said they had reduced their spending on dining out. Other people are cancelling their digital subscriptions or skipping cultural events. Rent alone can account for more than half a family’s earnings. Families that rent feel the greatest pressure.

The report also shows a shrinking middle class. The number of households in the lower-income bracket has increased compared to years past. The percentage of households with high incomes remains low.

Andalusian families face tough decisions due to the rising cost of living. A growing number of people are faced with the daily dilemma of whether to spend or save.