Finns are worried about money

Finns are worried about money

FINANCIAL CONFIDENCE: Finns have more financial concerns than other Nordic citizens Photo credit: Pixabay/Byrev

Finns’ financial confidence has plunged to an all-time low according to a Danske Bank survey.

The Copenhagen-based bank’s Financial Peace of Mind Index revealed that financial confidence has dropped by 0.1 points in Finland, which received a score of 5.9 out of a possible 10.

Meanwhile, the index score rose by between 0.1 and 0.2 in other Nordic countries, led Denmark’s 6.6, with Norway close on 6.3, followed by Sweden (6.1).

In 2023, Sweden tied with Finland at the bottom of the Danske Bank index, but has left its neighbour behind this year.

Finns are increasingly concerned about their economic situation, according to the survey which was carried out during a period that coincided with the country’s Budget and extensive discussions on adjustments to public finance, spending cuts and tax hikes.

“Danske Bank has studied the financial peace of mind of Nordics since 2018 and Finns have consistently ranked the lowest,” the bank’s Finland manager Jens Wiklund said.

“Now, the gap between Finland and the other Nordic countries is growing even wider.”

Cost-of-living is foremost amongst the Finns’ concerns, the survey found, with 59 per cent worrying each month about paying for essentials, compared with between 34 and 40 per cent in other Nordic countries.

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Written by

Linda Hall

Originally from the UK, Linda is based in Valenca province and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.

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