On 20 August, the Riksbank raised the key interest rate. The announcement was a relief for many who will see lower mortgage rates and higher incomes.
According to Arturo ArquezSwedbank and Sparbankerna’s private economist, it is above all the owners of single-family homes in Stockholm who benefit from the announcement.
READ MORE: 7,000 more a month – here are the winners when the economy strengthens
Avanza: Interest in investing in funds and shares is increasing in Sweden
Just a few months ago, the situation looked much gloomier, something that has contributed to Swedes starting to save more. It thinks Philip Scholtzésavings economist at Avanza.
– The time we have gone through with high inflation and rising interest rates has made even more people understand the importance of financial security, he says to News24.
In general, interest in investing in funds and shares is great in Sweden, according to Scholtzé. At Avanza, however, a clear increase in this has been seen.
– The number of customers has increased with us and recently passed 2 million, which is approximately 100,000 more than in December 2023. More than 7 out of 10 mutual funds save privately and 2.3 million private individuals own shares.
Photo: Henrik Montgomery/TT.
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One of these is Wilma Munther22, who puts away as much as 75 percent of his salary every month. In an interview with Nyheter24, she shared some savings tips.
– A savings account is a good “crisis account”. The money grows without gathering dust, plus you have money to withdraw in case something happens to the car or yourself, she told me then.
READ MORE: Wilma saves to become a millionaire – here are her best tips
Philip Scholtzé, savings economist at Avanza. Photo: Avanza image bank. The savings economist’s best tip: This is how much you should put away each month
However, it is far from everyone who has the opportunity to put away 75 percent of their salary. Scholtzé at Avanza has his own savings method that he prefers and where you don’t have to dig out as much of your monthly salary.
– I think the 90/10 rule is a good rule of thumb for those who are thinking about how much of their salary should be saved. Live for 90 percent now and save 10 for the future, he tells Nyheter24.
Scholtzé says that the average amount that savers put aside each month varies. In July, SEB came up with a survey under the name Sparkollen that showed how much Swedish households saved each month. Then the average ended up at SEK 6,306 a month.
READ MORE: This is how much Swedes save a month – are you above average?
That’s how much Swedes save at Avanza every month
At Avanza, it looks different.
– The average monthly savings in funds among our customers is currently SEK 2,400, but the amount varies, says Scholtzé, and continues:
– In a survey that the Association of Fund Companies published in 2022, 55 percent answered that they save between SEK 2 and 5,000 in funds each month.
Of the savers at Avanza, a total of 16 percent put aside more than SEK 5,000 every month, according to Scholtzé.