Swedes under growing financial pressure

The destruction of the European economy

Published 21 June 2023
- By Editorial Staff
Many women sleep poorly due to financial stress.

One in four Swedes feel stressed about their personal finances, and many report that the stress leads to poorer sleep and poorer relationships with children and partners.

Inflation, price shocks and rising interest rates have hit many Swedes hard and pushed many households’ finances to the limit. A survey conducted by Demoskop on behalf of the mortgage company Borgo shows that more than one in four Swedes (26%) feel stressed about their personal finances.

2000 people of all ages were surveyed in April, and the main stressors are rising food prices, housing costs, fuel prices and electricity prices.

It can be noted that women are more likely than men to have problems with mental health and sleep as a result of the economic crisis, while more men report that the economic turmoil has negatively affected their relationships with their partners and children.

“Our figures show that a large proportion of Swedes are experiencing stress related to their personal finances. This is a serious development that we are following closely, not least because it affects everything from sleep to relationships with children. By sharing these insights, we hope to be able to highlight the issue and give more people access to the tools they need to create greater personal financial security in the long run”, comments Åsa Fagerlund, savings manager at Borgo.

It also shows that every tenth Swede is considering selling their home due to the increased cost of housing and that 76% of Swedes still save regularly.

 

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