How Swedes spend their money

Swedish-created app that keeps track of your personal finances and helps you set up a budget for each month. The app can also be linked directly to your bank account and thus provide statistics on how and on what you spend your money.

Recently released data from the app in collaboration with Hui Research can now account for what we Swedes spend the most money on.

Almost half of all expenses go to housing

bank

The data first and foremost indicate that housing costs require the most money. This is perhaps not entirely unexpected as housing prices in Sweden are rising at a furious pace. As much as 43 percent of the expenditure is allocated to housing.

After housing, we Swedes spend the most money on food and drink, a full 19 percent. After that comes transport with 10 percent and shopping with 8 percent. The lowest expenses are devoted to leisure, home and garden as well as health and beauty.

New Year’s promises are showing

New Year

The statistics also indicate that many major expenses are allocated to gym cards during the first quarter of the year when many New Year’s promises of a healthier lifestyle are established. However, the data shows some restraint in terms of culture and entertainment during the first quarter of the year compared to previous quarters.

Filippa Frisk at HUI who summarized the report also says that you can see an increased interest in renting an accommodation during holiday times rather than checking in at hotels. This is evident in the increase in the amount of money spent on operators such as Airbnb where you can find accommodation to rent from people in over 34,000 cities in 192 countries.

A lot of money is spent on traveling

A lot of money is spent on traveling

The report may have shown that shopping does not constitute a noticeably large percentage of everyday spending, but they usually increase significantly on the move. More specifically, tax free at the airport is a hot place to spend money, and even at cafes and restaurants, the card reader seems to be going hot. However, this is not particularly strange as it is usual to spontaneously jump at airports, as prices are all often reduced.

Tink is available for download from the App Store for both iPhone and Android. The app currently has around 175,000 users and is a perfect option for those who want to keep track of your spending.