Extra worrying about money in the coronacrisis

One in three Dutch has less mental rest due to the coronacrisis. Especially about the health of our loved ones and ourselves, but also about finances we lie awake. This is evident from research conducted by SNS Bank among more than 2500 Dutch people.

โ€œ We have been monitoring the financial concerns of Dutch people for a year or two, which has been reduced by the coronacrisis,โ€ Marieke Commandeur, Head of Expertise Center Financial Resilience of SNS Bank, who conducted the investigation. โ€œPeople have less sense of control.โ€

Mental rest

Most people who worry about financial matters fear job loss. This may also mean that over a third of respondents say they prefer to postpone the change of jobs or buying a house until the pandemic is under control. As soon as someone has more savings, there will be less worrying. โ€œHaving a buffer gives mental peace,โ€ says Commandeur.

In the coronacrisis, more people knocked to the bank to talk about their financial problems, says Commander. โ€œPeople feel the coronapandemic really is an external factor, something that has happened to us all. The threshold to ask for help then seems lower. That is a bright spot.โ€

Stress

Among other things, small entrepreneurs knocked on the bank, or people who were unable to pay their mortgage due to job losses. โ€œBut we also have financial coaches who can look at income and expenses. This can already ensure that you get more grip on your money business, and prevents stress. Because that often causes attention only to be paid to the short term, and less sensible decisions are made.โ€

Especially for young people, who have less financial security due to temporary contracts and a student debt, talking about the finances with a professional can bring a lot. They are most often involved with it. Of the Dutch under 35, no less than 82% worry, of those over 55 it is only 41%.