In the Statistics Iceland SILC survey 2009, 7.1% of households said they were in arrears on mortgage or rent payments in the past 12 months and 10.3% of households were in arrears on other loans during the same period. In 2009, 39% of households were struggling to make ends meet. Around 15% of households said that housing cost was a heavy burden and a similar proportion said that payments of other loans were a heavy burden. Just below 20% of households could not meet unexpected expenses of 130,000 ISK with the usual household budget in 2009.
Notes: CI (95%) 2009: Can not meet unexpected expenses ±2.0, difficult to make ends meet ±2.0.
When broken down by household type, single parents were most likely to be in financial difficulties. Households with more than one adults and without children seem to be in the best situation financially.
When analysed by the mean age of adults in the household it seems that households with the mean age of 30–39 are in the most difficulties. Generally it can be said that the higher the mean age of adults in the household the better off fiancially the households seem to be.
Statistics Iceland has published an issue in the Statistical Series about household finances in Iceland 2004 to 2009.
Implementation
The results are from The European Survey of Income and Living Conditions (EU-SILC) but the survey is conducted in all EU-countries, Iceland, Norway and Switzerland. The sample for the 2009 survey was 4,144 households. After excluding those who are deceased and residing abroad the net sample was 3,972 households. Responses were received from 2,903 which is 73% response rate. The data collection period was from February to May 2009.
Risk of poverty and income distribution 2004-2009 - Statistical Series