RIGA, Sept 29 (LETA) - More than half, or 59 percent, of Latvia's residents worry about money several times a month, which is seven percentage points more than in 2020, representatives of Swedbank informed LETA citing the findings of a survey carried out by the bank.

In five years, not only the level of anxiety about money has increased, but also its intensity: 59 percent of respondents (as opposed to 52 percent in 2020) admit that they worry about money several times a month, including 19 percent every day. Young people, especially those aged 18-29, as well as those with lower education, lower incomes and underage children, worry the most about money. Only a small minority (13 percent) are relatively certain that they never worry about their households' financial situation.

When assessing their financial situation, people say that in the last six months they have not only felt worried and anxious about money, but also experienced difficulties saving for long-term goals (34 percent), felt guilty about spending money on unimportant things (31 percent,) and discomfort living paycheck to paycheck (28 percent).

Thinking about money evokes a wide range of feelings, both positive and negative. Motivation (45 percent), interest (38 percent) and satisfaction (30 percent) are the positive emotions mentioned most frequently, with money being perceived as a source of achieving goals and security. Negative emotions include anxiety (45 percent), sadness (31 percent) and fear (29 percent), reflecting concerns about insufficient financial resources or an uncertain future.

To reduce anxiety about financial matters, Latvia's residents most often focus on practical things that have a direct impact on their cash: carefully planning their personal budget (34 percent), trying to find ways to increase their income by working side jobs (27 percent), or gaining peace of mind from the knowledge that they have saved for a rainy day (23 percent). Other also mentioned taking up hobbies (26 percent), listening to their favorite music (15 percent) or exercising (13 percent). Respondents also mentioned learning a new skill that could help change their financial situation (16 percent), exploring available training courses (5 percent) or seeking professional advice (2 percent).

As for areas of personal finance that people would like to focus on more to reduce anxiety in money matters, 42 percent of respondents said they wanted to earn more. This is followed by various aspects that also help manage their earnings better: shopping smarter (33 percent), saving for the short and long term goals (25 percent), investing (21 percent), and controlling expenses more effectively (21 percent).

The Swedbank Institute of Finance 2025 Survey was carried out in cooperation with Snapshots by surveying 1,005 residents of Latvia aged 18 to 74.