In the Statistics Iceland SILC survey 2010, 10.1% of households said they were in arrears on mortgage or rent payments in the past 12 months and 13.3% of households were in arrears on other loans during the same period. In 2010 almost 50% of households found it difficult to make ends meet. 16.5% of households said that housing cost was a heavy burden and 19.2% said that payments of other loans were a heavy burden. Just below 36% of households could not meet unexpected expenses of 140,000 ISK with the usual household budget in 2010. Generally speaking it can be said that the financial situation in Icelandic households was worse in 2010 than the years before.

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 2010.

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 2010 survey was 4,218 households. After excluding those who are deceased and residing abroad the net sample was 3,968 households. Responses were received from 3,021 which is 76% response rate. The data collection period was from March to May 2010.

Household finances 2004–2010 Statistical Series