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One in four worried about their private economy

Money fixed interestNorwegian bank notes, Photo: Norway Today Media

Around one in four Norwegians between the ages of 18 and 65 look darkly on their own financial future.

At the same time, around one in ten stated that they are very concerned about how their own personal finances will develop in 2019,according to a survey by YouGov, commissioned by Nordea.

“Despite the fact that the Norwegian economy is doing better, many people fear the announced interest rate rise and that a more expensive mortgage will have major consequences for freedom of action in personal economy” said consumer economist, Elin Reitan, of Nordea.

‘’If you have increased your consumption in line with the interest rate decline and have embarked on an expensive lifestyle, you can have problems when the interest rate rises and the profit on the account shrinks’’ said Reitan.

It is the youngest in the sample who are most concerned about their private economy.

31% of those aged between 18 and 34 responded that they do not look brightly on their financial future, compared with 26% of those between 35 and 49 years. Among those aged between 50 and 65, nearly one in four is concerned.

The survey showed that women worry much more about the personal economy than men do. While 23% of men are concerned, 32 % of women responded the same.

Furthermore, the inhabitants of Eastern Norway fear changes in the private economy the most, while those living in the northernmost counties are least concerned.

© NTB Scanpix / #Norway Today

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