71% of households with a mortgage cut expenses due to the increase in the pay

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The rise in mortgage payments is a dagger for family finances. So much so that 71% with a loan have had to reduce expenses on other household items in response and to face the payment, according to the II Cofidis Observatory of Economy and Sustainability in the Home presented this Wednesday. The unstoppable rise in the Euribor leads another 24% to draw on their savings to face the rise, 6% are forced to ask for help from family or friends and 4% request a loan from financial institutions. 2% have decided to reduce their losses and put the apartment up for sale. read also Iñaki de las Heras Real estate is just one of the places where you see the price hit. In general, the rise in inflation has led to 35% of households cutting expenses, adjusting the budget to the basics.

The first thing has been to reduce spending on items that are not essential, such as leisure, tourism or home equipment,” explains Anna Golsa, director of marketing and digital business at Cofidis. They still go out Russia Mobile Number List and go on vacation, but 45% have been forced to change their lifestyle and expenses are much lower. The measure is almost mandatory because in 70% of cases more is spent on paying bills, 62% have seen their mortgage increase and 59% spend more on food. To face the situation, one can no longer trust others so easily. “In times of crisis it is common for us to draw on family members,” says Golsa. But as expenses increase, there is less room to help.



Supported other people in their immediate environment with their income in 2022, now the figure is 21%. Enrique Gómez, director of the study, points out that two factors combine in the fall. One, there is not as much room to support others because the income goes to cover one's own. But also that the cutting of expenses has left minimal room for unforeseen events and less help is requested. “In times of uncertainty, households try to contain spending more because of what may happen, which gives them a greater capacity to face unforeseen events.” Thus, 97% can face an unexpected expense of 100 euros with their income or savings, 90% one of 1,000 euros and 70% one of 5,000. All figures improve compared to last year. figures 26% cannot save at the end of the month The situation is, in any case, fragile.