More than half, or 59 percent, of Latvia’s residents worry about money several times a month, up seven percentage points compared with 2020, representatives of Swedbank told LETA, citing the findings of a survey carried out by the bank.
Over the past five years, not only has the overall level of anxiety about money increased, but so has its intensity: 59 percent of respondents (compared to 52 percent in 2020) admit they worry about money several times a month, including 19 percent who do so every day. Young people, especially those aged 18–29, as well as respondents with lower education, lower incomes, and underage children, worry the most about money. Only a small minority (13 percent) say they never worry about their household’s financial situation.
When assessing their finances, respondents report that in the past six months they have not only felt worried and anxious about money, but also experienced difficulties saving for long-term goals (34 percent), guilt about spending money on non-essential items (31 percent), and discomfort living paycheck to paycheck (28 percent).
Thinking about money evokes a wide range of emotions, both positive and negative. Motivation (45 percent), interest (38 percent), and satisfaction (30 percent) were the most frequently mentioned positive emotions, with money seen as a means to achieve goals and security. Negative emotions include anxiety (45 percent), sadness (31 percent), and fear (29 percent), reflecting concerns about insufficient financial resources and an uncertain future.
To reduce financial anxiety, Latvia’s residents most often focus on practical measures that directly impact their cash flow: carefully planning their personal budget (34 percent), seeking additional income through side jobs (27 percent), or gaining peace of mind from knowing they have savings set aside (23 percent). Respondents also mentioned engaging in hobbies (26 percent), listening to their favorite music (15 percent), or exercising (13 percent). Others said they were learning a new skill to improve their financial prospects (16 percent), exploring available training courses (5 percent), or seeking professional advice (2 percent).
As for areas of personal finance they would like to prioritize to reduce anxiety, 42 percent of respondents said they wanted to earn more. This was followed by improving their money management skills: shopping smarter (33 percent), saving for short- and long-term goals (25 percent), investing (21 percent), and controlling expenses more effectively (21 percent).
The 2025 Swedbank Institute of Finance Survey was carried out in cooperation with Snapshots by surveying 1,005 residents of Latvia aged 18 to 74.
Source: BNS
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