The wealth of the Swedes has decreased somewhat recently. Net wealth decreased by SEK 45 billion in the second quarter, which is a result of bad times on the stock market, above all, but also that we have some debt. In addition to becoming a little poorer this year, we have also taken fewer loans and started saving more carefully.
This, of course, that we have borrowed less is very much due to the fact that the economic situation is worse and that it is uncertain for the future. Since we do not really know what will happen, we do not dare to invest in loans to the same extent as before. Debt is still increasing, but the rate has thus been cut from 6.9 per cent in the previous quarter to 6.2 per cent. This is actually the lowest level since the first quarter of 2000.
Saving money more
In addition, we have started to save more and more on ordinary savings accounts instead of investing in equities and mutual funds. This is simply because the stock market is so uncertain and it feels safer to save money in a way that involves a low risk. Therefore, because of uncertain future, you would rather run the money into a savings account where the risk of losing them is minimal.
The fact that we have become a little poorer is, as I said, mainly due to stock market rises and that shares and funds have gone down quite a lot lately, but also partly because we have increased debt. When the economic situation is bad, debts can increase because people need money to manage their finances. However, one does not dare to borrow unnecessarily and therefore the loans are at a very low level in general.
The financial crisis affects what?
What one can say based on this information is simply that a financial crisis affects us quite a lot. It has a negative effect on our wealth, so we have a little less money, but it also affects our behavior. We become more cautious and restrained in anticipation of better times. You may think that a lower level of debt is good, because debt you do not want to have, but at the same time it actually means that we are a little afraid of investing and investing. In a healthy economy, loans are a natural puzzle piece.