A new survey by the Isle of Man Government reminds us that we need to focus on jobs and easing the squeeze on household finances:
More than 600 households took part in the questionnaire, with just 18% saying their finances had improved since the end of lockdown.
Almost 10% are racking up debt to make ends meet, while just under a quarter are having to dip into savings.
Finances will get a little or a lot worse going forward, according to 33.67%, while those who are already feeling the strain say they’re struggling with bills, borrowing money and unable to save.
Having to dip into savings can have a psychological impact on those under financial pressure. That’s from the Manx Credit Union following the survey, which showed around 23% of households are having to use savings.
A third of Manx households ‘expect finances to get worse’
This is a powerful reminder that we need to focus on jobs, jobs, jobs, jobs:
On Thursday, voters have an opportunity to vote for a strong voice for securing local jobs and easing the squeeze on household finances.
Information on how to vote in the Douglas South by-election is available here.
