More than half of Spaniards allocate between 40% and 60% of their income to pay for housing

Almost 30% of those surveyed acknowledge that they are currently allocating more than 10% more to housing compared to the previous year.

More than half of Spaniards allocate between 40% and 60% of their income to pay for housing

Almost 30% of those surveyed acknowledge that they are currently allocating more than 10% more to housing compared to the previous year

MADRID, 4 Abr. (EUROPA PRESS) -

More than half of Spaniards (51%) say they allocate between 40% and 60% of their monthly income to rent or pay the mortgage on their home, according to the second edition of the 'Financial Wellness Index'. ', prepared by Advantere School of Management for N26.

In this way, the study for the online bank shows that the budget that Spaniards dedicate to housing has increased. Thus, 26% of those surveyed currently spend more than 10% more on housing payments compared to the last year, while 41% pay between 6% and 9% more.

By territory, there are also large differences, with Catalonia and the Community of Madrid being the communities where housing is most expensive. Of the total number of respondents who claim to dedicate between 40% and 60% of their income to paying their rent or mortgage, more than half reside in Catalonia (15%) or Madrid (12%).

On the other hand, the study also reveals that more than 40% of Spaniards run out of money at the end of the month for food or other expenses such as electricity, water or mobile phone, a situation that is repeated almost every month.

Given this, the data from this study show that 85% of those surveyed comply with their invoices and credit commitments with "difficulty" or "very difficult." In contrast, only 2% do not deal with these complications when it comes to covering their expenses and bills.

This situation is mainly due to the fact that a large percentage of Spaniards surveyed (36%) consider that their income does not come from a recurring and reliable source.

On the other hand, as the study shows, Spaniards who say they run out of money at the end of the month for food or other regular expenses are, 56%, full-time salaried workers.

By territory, 15% of Catalans and 9% of Madrid residents find it "a challenge" to meet their bills and credit commitments. Furthermore, 10% of both groups face them with "great difficulty", while only 4% of those surveyed in the Valencian Community face these expenses with "high difficulty".

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