More than half of consumers feel that COVID-19 has had a negative impact on their financial circumstances, according to a new report.

The results from the KBC Bank Consumer Confidence Index for February show that many households are spending more on costs like heating and electricity, as well as grocery bills and utilities, at a time when their incomes are down.

In comparison, just 12% of consumers surveyed saw an improvement in their finances in recent months.

Charlie Weston, personal finance editor of the Irish Independent, joined us to discuss these findings.