Financial guru Eddie Hobbs has blamed the recession for the demise of the print edition of magazine You & Your Money. The magazine, which focuses on consumer affairs, has ceased publication and will now exist online only.

Hobbs said the magazine was just another victim of the country's economic troubles.

"The whole magazine industry has been put under massive pressure over the last few months," he said.

"Because of the recession there have been issues with labour and staff costs, and when this is combined with the marked drop and sometimes non-existent advertising, this is, sadly, the result."

Hobbs said a sharp drop in circulation further necessitated the move online.

"It is clear that things are moving towards a more web-based platform," he said, "so the decision was made to keep the magazine online instead of continuing it as an actual publication."

Other problems which affected the magazine include the high cost of rent at its offices in central Dublin.

"It was like feeding a monster in the background. There were a lot of costs associated with having the offices on Sir John Rogerson's Quay and that was a drain as well," he said.

Hobbs, who was informed of the changes in July, said he would continue to write for the magazine in its new online format, and that he was unsurprised at the changes.

"I write for it and am only one of the writers. They have other contributors such as Niamh Lynch and Stephen Tormey who will continue to work there," he said.

"I understand the logic of it. They have been affected like everyone else. It is the business of those in charge of the magazine and I can't elaborate on that."

He said his main focus now was The Consumer Show, which he co-presents on RTé television with reporter Keelin Shanley.

"I am spending a lot of time on that and enjoying it. Working with experienced professionals like Keelin Shanley on such a broad range of topics is a great experience," he said.