24% consumers face chronic money shortage in Finland: survey

Almost a quarter (24 percent) of consumers in Finland say they are experiencing a chronic shortage of money, reported Xinhua, quoting a survey published on Wednesday.

The Consumers' Union of Finland survey also found that consumers are even more cautious about their spending habits. Around half of respondents said they have cut spending, particularly on food, vacations, and leisure activities.

Juha Beurling-Pomoell, secretary general of the Consumers' Union of Finland, said the survey underlines that the most difficult situation is for people living alone, single parents, people on low incomes and people living in rented apartments.

Around a quarter of respondents said that their financial margin for everyday costs was no more than 100 euros per month.

"Therefore, around half of all respondents (49 percent) do not have any kind of financial buffer, or have a maximum monthly buffer of 100 euros," Beurling-Pomoell said.

The rise in the cost of living, especially in terms of energy costs, the price of food, and mortgage interest rates, has put a strain on the everyday life of households, explained the organization.

Consumers in Finland are not optimistic about future economic prospects, according to the survey.

As much as 31 percent of respondents estimated that the financial situation of their households would worsen over the next year.

The survey was conducted by polling company Aula Research between December 2023 and January 2024. A total of 2,055 consumers responded.

The Consumers' Union of Finland is a non-governmental consumer organization in Finland which aims to safeguard consumer interests and rights. The union monitors the interests of consumers in society and on the market.