Rising energy costs and inflation are worrying many people. This is apparent from a study by the Money Wise platform into the good intentions the Dutch have with regard to their finances.
For the survey, more than a thousand people were questioned about their financial intentions for 2022 and their expectations for the coming year. Six in ten respondents expect that high energy costs will affect their financial situation. Three quarters of this group indicate that it will be difficult to make ends meet.
Groceries are also becoming more expensive and people feel that in their wallets. For example, 90 percent say they have noticed that the prices of products in the store are rising. Two thirds of those surveyed are concerned about further price increases in 2022. This is especially true for young people between the ages of 18 and 34 and people on low incomes.
It is precisely groups that are hit hardest by rising energy prices that are more often unaware of the compensation schemes
Save on energy and groceries
In 2022, people most often intend to save on electricity and gas (38 percent), groceries (38 percent) and shopping (34 percent). Last year, when energy prices were much lower, 26 percent wanted to save on energy bills.
“The Christmas holidays and the end of the year are always a good time to map out what goes in and what goes out,” says Ariane Kleijwegt of Money Wise. ,, What do you spend on fixed costs and is all that necessary? Are there subscriptions that you no longer use, do you need all the insurance policies, or is it worth switching to another health insurance policy?”
The survey shows that only half of the Dutch are substantively aware of the reduction in energy tax. “That worries us,” says Kleijwegt. “The survey shows that it is precisely groups that are hit hardest by rising energy prices that are more often unaware of the compensation schemes. These are people with a low income who more often have a poorly insulated house.” People on benefits automatically receive through the municipality the extra compensation of about 200 euros credited to their account, but other groups who are entitled to it must report to the municipality themselves, according to Kleijwegt.
Good intentions
The most important intentions the respondents have for the coming year: save for a buffer (46 percent), reduce unnecessary expenditure (38 percent) and be more economical (36 percent). Nearly a quarter (23 percent) also want to see whether insurance is still appropriate. Two years ago it was 17 percent.
“We also see that people who have money left over feel the need to do something useful with their savings. They are driven by the low interest rate on savings, for example to make extra repayments on the mortgage or to set aside money for retirement,” says Kleijwegt.
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