A wallet and money in a person’s hand in Helsinki. LEHTIKUVA
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A quarter of Finnish consumers remain in financial distress, with no ability to absorb rising living costs, according to a new survey by the Consumers’ Union of Finland.
The survey found that 24% of respondents said they had no financial buffer left to cover any increase in household expenses. This proportion has remained unchanged for three consecutive years.
“There are signs of slight improvement in overall financial confidence this year, but not for the most vulnerable households. For a quarter of consumers, the situation has remained dire for more than three years,” said Juha Beurling-Pomoell, Secretary General of the Consumers’ Union.
The rising cost of food was cited as the biggest financial strain, with 60% of respondents saying higher food prices had significantly impacted their household budgets.
Since 2022, the Consumers’ Union has been tracking public perceptions of financial well-being. The latest survey indicates that single-person households are under the most pressure, with 35% saying they have no financial cushion for unexpected expenses.
“Single-person households are now clearly struggling, and this is not a small group,” Beurling-Pomoell noted.
The survey, conducted annually, aims to measure consumers’ real-time perceptions of their financial situation. The results show a consistent trend: one in four is living on the edge, while another 23% say their financial flexibility is limited to no more than €100 per month.
HT
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Source: www.helsinkitimes.fi
