At the same time, six out of ten residents say they are confident in their ability to manage personal finances in the next quarter. The data shows that the financial situation of residents is basically stable, but many still tend to cautiously assess their financial expectations, according to a press release from Citadele Bank.
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Residents of the Baltic countries were asked to assess how their personal financial situation has changed over the past three months. The results reveal clear differences between the countries in the region.
Lithuania records the most balanced result: 20% of residents indicated that their financial situation has improved (4% significantly, 16% slightly), while 19% said it has worsened (15% slightly, 4% significantly). The largest share of respondents, 62%, reported no changes. Lithuania is the only Baltic country where the share of residents reporting an improvement in financial situation slightly exceeds those stating that the situation has worsened.
In Latvia, the situation is moderate: 16% of residents reported an improvement in financial situation, while 25% reported a deterioration. 60% of respondents said their financial situation has not changed. The most difficult situation is recorded in Estonia. Here, as many as 33% of residents say their financial situation has worsened – the highest figure in the Baltic countries. Meanwhile, 17% of respondents reported an improvement.
Confidence is not lacking, but caution remains
Looking ahead, the financial expectations of Lithuanian residents remain quite solid, but not unconditionally optimistic. Six out of ten residents (60%) say they are confident in their ability to manage personal finances over the next three months. Of these, 21% are very confident, and 39% are fairly confident.
Almost a third of residents (31%) take a neutral position, while less than a tenth (9%) admit to lacking confidence in their financial situation.
The highest confidence in the future is recorded in Latvia, where 66% of residents trust their finances. In Estonia, this figure is 58%. A similar trend is observed in all three countries: most residents view their financial prospects favorably, a significant portion remains cautious, and a smaller group feels uncertainty.
“The data confirms that financial expectations in the Baltic countries are more similar than headlines sometimes suggest. The biggest differences are seen when assessing recent months’ experience. Lithuanians slightly more often than residents of neighboring countries indicate that their financial situation has improved in the last quarter, which contributes to a somewhat stronger confidence indicator,” says R. Ežerskienė.
However, 40% of Lithuanian residents either doubt their financial prospects or assess them neutrally. This indicates not financial comfort, but persistent caution.
The path to greater financial security is practical
To reduce this caution, economic growth alone is not enough. The most important for residents are tangible changes in personal financial situation: a financial cushion for unforeseen cases, income that allows fulfilling financial obligations without additional stress, and confidence that unexpected expenses will not disrupt the monthly budget.
In all Baltic countries, the most effective step to strengthen financial security remains the same – regularly setting aside part of monthly income into savings, even if the amount is not large.
