More people content with their finances despite low confidence

Nearly four out of five people in the Netherlands say they are satisfied with their financial situation, continuing a decade-long trend, latest figures show.

The national statistics agency CBS said 79% of people told its annual survey in 2024 that they were content with their personal finances, up from 77% the year before and 68% in 2013.

Just over half of those questioned (54%) said they had no worries about their financial future, up from 40% in 2013.

Both trends have been steadily improving over the past decade, with a small dip in 2020-2022 during the coronavirus pandemic and the steep rise in energy prices following the invasion of Ukraine.

Unsurprisingly, households with the lowest incomes were more likely to have financial worries. Among those in the lowest 25% income bracket, 37.7% were very concerned about the future, compared to 17% of the highest earners.

Single parents were least likely to be content, with just 61% saying they were satisfied with their situation against 85% of partners in couples without children.

Tenants who receive housing benefit (huurtoeslag) felt much less financially secure than homeowners, with 37% saying they frequently worried about the future – though the figure has fallen from 46% in 2023. Just 21% of homeowners said they were often worried.

Peter Hein van Mulligen, chief economist at the CBS, told NOS strong wage increases had offset the hugh inflation of recent years, making people feel more financially secure.

“As a result most people with paid jobs are better off, which we see reflected in the figures.”

Consumer confidence remains low despite most people feeling financially secure, Van Mulligen pointed out. “It’s very strange, because we’re spending a lot. People are buying more things, so they’re more satisfied about their finances, but confidence isn’t growing.”