Wednesday, 17 April 2024
BusinessSpain is the second country in Europe where citizens spend above their...

Spain is the second country in Europe where citizens spend above their income

Spain is the second country in Europe where citizens have the most expenses above their monthly income with an average of 328 euros. Despite this, Spaniards are the least late in paying their bills.

This is reflected in the new edition of the Intrum European Consumer Payments Reportwhich will be published in full in November, and from which it follows that a third of Spaniards (28%) acknowledge that their monthly expenses currently exceed their income. A percentage of citizens in this situation is four points above the European average (24%).

“The current socioeconomic context, with prices increasing at a higher rate than salaries, is causing many families are forced to spend more than they earn to deal with day-to-day life,” they explain in Intrum.

The survey, carried out on more than 20,000 people from 20 European countries, delves into the personal finances of their citizens. Among the conclusions, it stands out that Spaniards who claim to spend more per month than they earn, They do it for an average of 328 euroscompared to the average of 232 euros in Europe.

This data would place our country as the second country where citizens have the most expenses above their monthly income, only below Switzerland, with 359 euros per month.

On the contrary, Poland (99 euros), Hungary (94) and the Czech Republic (35) are positioned as the territories where families have the greatest balance between their income and expenses.

According to José Luis Bellosta, managing director of Intrum Spain, “the Bank of Spain’s forecasts indicate that inflation will remain at this level in the coming months and therefore Companies and individuals will be forced to continue taking measures to contain spending. In this scenario, it becomes essential to avoid over-indebtedness and continue promoting good financial education.”

Punctual payments

The study shows that, despite the high level of these extra monthly expenses, only 21% of Spanish consumers admit to not having paid at least one bill on time in the last 12 months. A figure that, at the European level, amounts to 35%, the highest proportion since 2019.

Based on these data, the report adds, Spain is positioned, along with Portugal, as the country where the least citizens are late in their paymentswhile on the other side of the table are Norway (56%), Greece (55%) and Switzerland (54%).

In those households in which payment delays do occur, this is usually due to economic difficulties derived from the current socioeconomic context. “In fact, a third (33%) of those surveyed in Spain admit that, If you ever had to skip paying a bill, you would feel less guilty than you did a few years ago.. A feeling that is shared throughout Europe (31%)”, they report in Intrum.

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