According to debt counselors, a couple with two children in Austria is already spending 4,077 euros per month this year. Savings are only marginally possible.
Heating costs plus 58 percent, electricity and food plus eleven percent, leisure and cultural activities plus seven percent – in total, a couple with two children (aged seven and 14) already needs about 4,077 euros per month to live on this year. That is almost 300 euros more than in 2022, so a total of 3600 euros for the year.
Single already at 1864 euros
This was calculated by the ASB, the umbrella organization of debt assistance centers recognized by the government, which annually draws up such a reference budget. The fixed costs for living alone amount to 1864 euros this year, for food, personal hygiene, etc. an additional 1185 euros (see table below).
You can save at most on irregular expenses, says debt counselor Maria Kemmetmüller. The costs for social and cultural activities increased from 483 euros to 518 euros. According to a survey by the AK, three-quarters of Austrians also want to spend less than recently.
Hardly any more to lift
Yet it is clear that the living costs of the model family can hardly be covered from their income and (for middle incomes) already exceed the official poverty line by 875 euros.
Therefore, according to the ASB, 20 percent of the population should actually be considered at risk of poverty. According to official figures, this share is currently “only” 15 percent.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
