There is high summer heat in several parts of the country and soon the first summer month of the year will be here. Then it’s not far until the holidays, which many are certainly longing for.
For many, the holiday weeks usually involve high expenses, as people like to treat themselves to a little extra luxury in everyday life, regardless of whether it is through trips or eating out.
In times where inflation has held a tight grip on many Swedes’ finances recently, the Riksbank announced at the beginning of May that the key interest rate will be lowered – for the first time in eight years.
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Less money in the wallet this summer
When the krona is now on the rise and strengthened, many people are probably waiting for it to also show up in their wallets.
In an earlier interview with News24 has Handelsbanken’s chief economist Christina Nyman said that the summer will not come with a reinforced holiday fund.
– Anyone who hopes that a stronger krona means a strengthened travel fund risks being disappointed. The lift will be delayed until after the summer.
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The holiday fund will not increase this summer. Photo: Erlend Aas/TT This is how much families with children spend this summer
In a new report from Länsförsäkringar, they report how much Swedes are expected to spend on the summer holidays in 2024. Their research shows that families with children are expected to spend an average of SEK 18,500, just during the holiday weeks.
– Despite two years of worse economic times, it is clear that some have the opportunity to prioritize traveling this summer. For those with thinner wallets, it is important to carefully consider whether it is necessary to take out a personal loan for the holidays, says Stefan Westerbergprivate economist at Länsförsäkringar in one press release.
However, how Swedes are expected to spend will differ depending on how high the income is.
Families with an income below SEK 35,000 are expected to spend SEK 15,407, while families with a total income of more than SEK 84,000 are expected to spend a full SEK 24,576.
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Photo: Skärmavbild/Press LänsförsäkringarSo large a proportion can take out a loan to afford the holiday
The survey also shows that in families where the income amounts to less than SEK 35,000, one in five is willing to take out a loan to finance the holiday. The difference, however, is that households with higher incomes are less likely to do so.
Such a large percentage is considering taking out a loan:
For the finances to last, it is important that you have a budget and plan for what you will spend money on, says Westerberg.
– Feel free to make a budget for the activities you plan during the summer holidays. In this way, you get a better overview of the expenses and can set them against your income. Feel free to check last year’s expenses if the activities are similar to those you are planning for this year, he says.
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