More Swedish households struggle to make ends meet

The destruction of the European economy

Published 16 September 2023
- By Editorial Staff
These days, many people have a very hard time financing even the most basic needs.

Roughly one in three Swedish households are struggling to make ends meet, according to a new study. Among single individuals, 30 percent have been in the red every month over the past six months.

Over the past six months, the financial margins of Swedish households have deteriorated compared to the beginning of the year. Today, 32 percent report having a budget that just barely balances or going into a deficit every month, according to a survey by Kantar Sifo in collaboration with calculations from Swedbank. In January, that figure was 25 percent.

Furthermore, the proportion of those with savings equivalent to two months’ salary after taxes has decreased to 68 percent; in January, this figure was 73 percent. Approximately 30 percent of Swedes have had to dip into their savings for necessary expenses in the past six months.

Among single parents, nearly 30 percent report going into a deficit every month, and 24 percent of single parents are just managing to make ends meet.

Just since January, the necessary costs have increased by over 700 Swedish kronor per month for a single parent with two children, says Madelén Falkenhäll, Swedbank’s sustainability economist, to Dagens Juridik.

Close to 30 percent of Swedes report feeling stressed or anxious about their personal finances. Two years ago, that figure was 20 percent, with younger individuals experiencing the most worry.

In financially uncertain times, it’s not surprising that younger individuals feel more anxiety than older ones; they haven’t had the chance to build up their personal finances to the same extent yet, says Falkenhäll.

 

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