According to a new Gallup survey the majority of Icelandic homes are piling on debt or struggling to make ends meet, reports RÚV.
Ten out of 100 homes surveyed claimed to be collecting debt, 11 out of 100 said they were using their savings to make ends meet and 36 out of 100 said they barely made ends meet at all, meaning 57 out of 100 homes in Iceland are struggling financially.
The age group able to save the most money is the youngest, 67% of people aged 18-29 reported being able to save money.
People in their thirties by contrast struggled the most out of those surveyed. Only 31% were able to put aside any savings, 47% reported struggling to make ends meet and 22% either dip into their savings to cover monthly expenses or are piling on debt.
Poverty is common as 4 out of 10 surveyed reported someone in their immediate family living in poverty, a number that is up by 3% since 2012.