📉 What people think
The economy is in transition. A period of uncertainty followed the pandemic, followed by war, inflation and a looming energy crisis with high electricity prices for homes and businesses.
But what do people think?
7 in 10 believe prices will continue to rise in 2023, according to a recent survey by research firm Ipsos in partnership with the World Economic Forum. And 8 in 10 believe real incomes will fall.
📈 Here are the facts
It is therefore a rather difficult financial situation that many find themselves in when it comes time to welcome the New Year. But it is possible to find ways that allow you to strengthen your own situation. Basically, it’s about getting a better grip on what exactly you can do.
Everyone has to take their individual life situation and framework conditions into account. But more knowledge about the small and large perspective is necessary in order to optimally navigate in economically turbulent times. There is much you can do yourself to improve your understanding of your personal finances.
💡 Optimist’s Edge
💡 With digital tools you can get a detailed overview of your finances.
Some are already using a range of services to better manage income, expenses and savings, but this space is growing rapidly and new tools are springing up all the time.
👇 How to get the Optimist’s Edge
Find the right tool. Perhaps a few days of Christmas leave us a good opportunity to browse what is available and what suits you. Here are some tips.
One popular app is Pennies.
“pennies keeps it super simple so budgeting doesn’t have to be a chore. It has everything you need to keep track of where your money is going and how much you have left,” writes MoneysMyLife.
- Anyfin is a refinancing company developed by former Klarna and Spotify employees that collects information about your current credit and credit and helps you lower your borrowing costs. Available in Sweden, Germany, Finland and Norway.
- Will you teach the seven year old private economics and the importance of saving? Look at Gimi. Here you can pay for housework and maternity allowance while the child learns more about numbers and finances.
- Here is a list of the best personal finance apps. At the top of the list: mint.
- And here is NerdWallet’s list of the top eight budget apps. Again, Mint tops the list.
- Automate. The move from an overview of the economy to proposing actions based on the facts will be increasingly influenced by AI in the future. Wired has an interesting article about it.
Psst! Don’t miss Sweden’s most frugal – or, as some call it, “stingiest” – tips for saving every day. It’s all about bargains, investing in gadgets, late booking and planning.
“In the best of worlds, times of crisis and economic turmoil can lead more and more people to acquire a better understanding of economics, both at the macro and individual levels. This offers many advantages in the long term,” says Günther Mårder, Sweden’s most economical person.