Spain | It is good to know how to cover your back

There is consensus on an economic slowdown in Europe in the coming months, and Spain will be no exception. This is compounded by the evolution of inflation and the rise in the cost of credit. The question arises as to how households are coping with this situation according to their concerns and saving and spending habits.

Key points

• Key points:
• According to the data from the survey conducted by the World Bank through the Global Findex (2021), 23% of the Spanish population (age 15+) states that one of their biggest financial concerns is making ends meet.
• Regarding saving and spending habits, almost half of Spanish adults use a credit card, in line with European countries and well below the levels of Canada (79%) and the United States (62%).
• In the case of Spain, 13% of credit card users do not pay their bills on time, very close to the European Union average (11%).
• Faced with liquidity problems, Spanish households are again in the lead when they point out that they find it impossible to raise funds (€2,000) for an emergency, in one month's time.
• In the current economic climate, there is no doubt that households will have to pay special attention to their finances.

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