the French increasingly insecure about their finances

by times news cr

2024-09-15 08:52:31

Six out of ten French people, or 62% of all, have experienced or already been on the brink of poverty, according to a survey by the French non-profit organization that reports on poverty and discrimination in public life Secours Populaire Français (Secours Populaire Français ), quoted from “Figaro”. This represents a 4 percent increase compared to 2023 and nearly matches the record levels of 2014.

Despite falling inflation in the country, the data from the survey, conducted among a representative sample of 996 people, increasing uncertainty, reports BTA.

Financial instability mostly affects the middle class (80 percent of workers). Among people living in non-urban communities – areas where the population is mainly made up of workers and employees, the level amounts to 69 percent, the organization notes in its analysis.

France has set the poverty level below 1,396 euros per month this year. This is a subjective threshold that has been raised for the third year in a row and grows by 19 euros compared to 2023. Such a level has not been reached before, and the poverty level is only 2 euros from the minimum wage, which is 1,398 euros net per month of work on full time, says Secur Populaire Française.

However, the amount is not the same for different regions.

For example, residents of Ile-de-France are considered poor if they receive less than €1,431 a month. This is 43 euros more than the rest of the French. The organization also observed another trend – the subjective poverty threshold for the richest French is an average of 1,457 euros per month.

Other figures show that 16 percent of French take out an overdraft every month. Although this is down from last year by 2 percent, the level remains alarmingly high. Among workers, this share is twice as high – 31 percent.

Although French people who say they still can’t save have fallen by 1 percent year-on-year, more than half of the country’s residents (52 percent) still say that setting aside finances is a problem for them.

This means that they still do not see the end of the inflationary crisis in their daily life.

Other figures show that almost one in two respondents – or 48 per cent – face difficulties in going on holiday at least once a year and have difficulties paying their energy costs – 47 per cent. These are levels that have not been reached in all 18 studies and surveys to date.

43 percent of those asked even claim that they rarely heat their home when it’s cold.

Respondents having difficulties paying the rent, mortgage or housing costs represent 38 percent, highlights “Secure Populaire Française”. Other alarming data show that 35 percent of those asked have difficulty practicing sports or hobbies, cannot take enough care of their appearance – 31 percent, and pay additional health insurance – 29 percent.

Financial uncertainty has forced a third of French people to go without food to make ends meet. 32 percent say they are sometimes or regularly forced to skip three meals a day, and 33 percent of parents say they don’t have enough food to feed their children. Despite this worrying trend, the organization’s survey ends positively – the majority of French (66 percent) say they want to get involved in helping people in situations of poverty.

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