Almost 70pc of Balearic households overspend

Joan Collins SOME 68.53 percent of Balearic homes overspent on their monthly income during the last quarter of 2005, some 3.42 percent more than 12 months previously, according to the Family Budget Poll published yesterday by the National Statistical Institute (INE). The Balearics is the autonomous region where a greater percentage of homes (72.69 percent) feel that they cannot make important purchases (excluding the purchase of a house), as opposed to the 51.65 percent national average. In fact, some 16.76 percent of households on the islands have a lot of difficulty surviving to the end of the month on their income (six percentage points more that the national average); 24.24 percent have some difficulty (eight points more than the national average); and 27.53 percent have a little difficulty (one percentage point less). According to the Poll, the Balearics is the autonomous region with the least percentage of households which get through the month easily on their income (0.64 percent as opposed to 1.9 percent nationally), while some 21.82 percent get through quite easily and 9 percent get through without expenditure exceeding income. Extremadura, the Basque region, Murcia and the Balearics have the most unfavourable figures for this. Aragon, Cantabria, Andalucia and Valencia are the regions with the most favourable figures. With regard to investments, in addition to the high percentage of households in the islands who say that they can't make important purchases, the Poll reveals that only 2.26 percent of Balearic families consider themselves in a position to purchase costly items, the lowest proportion in Spain, as opposed to 12.4 percent nationally. On the other hand, 58.7 percent of households on the islands either can't save or have very little that they can save (two percentage points less than the national average), while some 41.3 percent say that they can save something. However, the Balearics is the second autonomous region which has the highest average amount spent per person (2'541.38 euros), only beaten by Madrid with 2'699.47 euros (national average 2'164.67 euros). Of the total, 358.38 euros is spent on food, drink and tobacco and 2'183 on other things.