According to an EU study almost three out of ten Irish people fear they may run out of money and be unable to purchase food and other basic goods.
The study found that 15% of of people feel that they may loose their job while 45% say they would be unable to handle an unexpected expense of $1,200 within the next year.
Nearly 45% of respondents felt that they would be unable to keep up with rent and mortgage payments in the next 12 months.
Just 6% of respondents are currently falling behind on the payment of bills with a further 9% finding repayments a constant struggle.
Almost 50% of the Irish respondents said they thought poverty in Ireland greatly increased since the recession began.
The study was carried out in every EU country with a 1,000 people surveyed in Ireland.
Some 4% of Irish respondents felt it was "very likely” or “fairly likely” that they would be forced to leave their home due to financial pressure.
Over 35% of respondents said they were finding it difficult to afford healthcare compared to the EU average of 29%.
Irish people are worried that they will be unable to afford long term care for family members with 27% of respondents saying they will be unable to afford it.
The study found that the recession has seen the Irish pscyhe develop an emotional and financial insecurity with many of the respondents fearing that they may find themselves on the bread line.
The report stated, "The older the respondents, the more likely they were to feel that it had become harder to afford general healthcare and long-term care for themselves or their family.”