Tuesday, February 27, 2024

Polaris of Enlightenment

Tuesday, February 27, 2024

Polaris of Enlightenment

One in three Swedes struggles to pay rent

The destruction of the European economy

Published 23 January 2024
- By Editorial Staff
Many Swedes are getting poorer and are now struggling to pay bills for basic needs.

A third of Swedes have difficulty paying for basic needs such as rent and food, according to a new survey. At the same time, many are very worried about their financial situation.

Those in better health also have better financial well-being, according to the survey by the Swedish Financial Supervisory Authority and the Swedish National Board of Health. At the same time, those who are more worried about their finances report poorer health.

– As expected, the survey confirms that financial and general health go hand in hand. Financial anxiety creates vulnerability and affects overall financial well-being, says Sofia Tyréus, senior project manager for financial education at Finansinspektionen.

The majority of respondents say they have good financial well-being, but about a third report feeling anxious or stressed about their finances. The same proportion have had difficulties covering current expenses such as rent and food in the past year. In addition, three in five say they could handle an unexpected expense equal to one month’s salary without borrowing.

Women and families with children

It appears that men, pensioners and highly educated professionals without children, as well as households with a net income of SEK 50,000 or more per month, often report higher financial well-being. On the other hand, women, households with several children, single persons, foreign-born persons and households with a net income of less than SEK 25,000 per month often report lower financial well-being.

The survey was conducted by Origo Group on behalf of Finansinspektionen, Sweden’s Financial Supervisory Authority in cooperation with Folkhälsomyndigheten, the Swedish National Board of Health. It was carried out in November and December and included more than 2,000 respondents aged 18 to 79.

Facts: Financial well-being

Also known as financial health, it refers to the extent to which an individual is able to meet their financial needs and is prepared to deal with financial crises.

Source: Finansinspektionen, Sweden's Financial Supervisory Authority.


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