Swedes ‘bad at saving money’: report
Published: 21 Aug 12 16:28 CET | Print version
Online: http://www.thelocal.se/42748/20120821/
One in four households in Sweden has less than 10,000 kronor ($1,504) in the savings account to tide them over a financial setback, according to a new report.
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As well as 25 percent respondents admitting to less than 10,000 kronor in the piggy bank, a further 13 percent claimed to have no savings at all.
Meanwhile, very third household has savings of between 70,000 and 120,000 kronor.
Rikard Josefson, CEO of Länsförsäkringar, believes that a tax-favoured saving scheme for amounts up to 50,000 kronor would be a model that could increase
Swedes’ desire to build up buffers.
"We already know that tax incentives make a big impact on savings," Josefson told Dagens Industry newspaper.
Furthermore, Josefson believes that there is a danger for the many Swedes who use their homes as a financial buffer.
"It is no longer possible to assume that house prices will rise in the same way asthey have during the last 10 to 15 years," he told the paper.
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OR we could practice self control and actually save money like our grandparents knew how to do. (Sorry parents, you fall in the same boat that we do financially.)
Either there's an 'only' too much or the 'less' should be 'more', or I can't read today...
I see people living in these 6,000,000 krona dog box apartments ( how could you live your life like that?) with a 800,000 krona car ( or much more ) parked in the street?
can someone explain how this works to me?
are swedes all living off interest only mortgages?
I know for a fact that salaries here are lower ( considerably ) than australia yet your overpriced restaurants are full.
It's called cash flow... most swedes are not rich but they have a fixed income and job security... I know a man that has been working with a copper company since he was 16.. now, he's over 50 and even though he earns less than 20k after tax.... he has a big house and two cars.
So as long as there is cash coming in, you can afford to buy expensive stuff .. ofcourse most of the time, the assets are funded by mortgage loans which is a norm in Sweden!
If its krona that is very little. Maybe $2800 a month.
That wouldnt cover the lease on a new $100,000 (oz) car let alone a mortgage and another car.
$10K to $17K in the bank is fantastic. I would doubt that many people had that much in savings in australia. probably less then 1% of the population. Do you have superannuation in sweden or does everyone get a pension of some description? how is the pension rate worked out or does everyone get the same amount?