Savings Barometer
Each year, we collect data on the state of financial well-being of Finns through the Savings Barometer. This information allows us to better target our actions and promote those areas where improvement is most needed.
To gain more insight into the state of financial wellbeing in Finland, we collect data annually with our extensive Savings Barometer. The Savings Barometer survey includes various questions on how people use money, as well as people’s attitudes.
The financial situation of households has been significantly affected during the past few years by the COVID-19 crisis, the war in Ukraine and high inflation. This has also been reflected in the results of the Savings Barometer. The COVID-19 crisis motivated people to save money and plan their finances more carefully than before. The war in Ukraine and the subsequent high inflation and rising interest rates, in turn, have reduced people’s opportunities to save money.
The Savings Barometer also shows a positive correlation between saving money and perceived happiness. The people who save money are also happier. While there are probably diverse causal relationships behind this correlation, this observation strengthens our view that managing one’s personal finances is an important aspect of financial and overall wellbeing, and even people’s perceived happiness.