The savings report for the second quarter of the year shows that Swedish households plan to reduce their savings in the coming six months.
The percentage of households planning to save less in the next six months went from nine percent to eleven percent, while the percentage of households planning to save more remains at the same level, 24 percent.
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Therefore, Swedes save less
SEB’s private economist Americo Fernandez summarizes the results of the survey.
– During the second quarter, households saw the first interest rate cut in over 8 years, at the same time as inflation approached the target and purchasing power cautiously turned positive, he says and adds:
– The economic recovery has thus started, but is doing so gradually and has not yet made a strong impact in the households’ wallets. That causes the savings plans to slow down a bit this month.
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This is how Swedes distribute their savings
The savings log also shows how Swedes distributed their savings during the second quarter of the year.
An average saved hundred was distributed as follows, according to the survey:
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Differences in saving between the sexes
Americo Fernandez believes that there is an increased appetite among Swedish households to save in shares and mutual funds.
– New savings mainly go into mutual funds and shares, which reflects that households’ willingness to take risks is still good despite a somewhat tentative economic recovery in general.
He further notes that there are differences between the sexes when it comes to risk-taking.
– However, the space for saving and taking risks differs between the sexes. Men plan to a greater extent to switch up their savings this month, while women have a significantly slower development, says the private economist in a press release.
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This is how much Swedish households save on average
The results of the survey also show that Swedish households’ monthly savings increased by five percent, corresponding to almost SEK 300, in the second quarter of the year compared to the previous one.
Specifically, Swedish households have on average gone from saving SEK 6,027 to SEK 6,306 a month, according to the survey.
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