Rising living costs and a strained job market are putting growing pressure on households across Austria, leaving many people trying to save money while struggling to maintain financial stability, according to a report published by 5 Minuten.
A new Financial Resilience Index by TeamBank shows that Austrians are coping, but only just. The index currently stands at +7 on a scale from +200 to -200, suggesting a slightly stable situation overall. Still, for many families, a real financial cushion remains out of reach.
The findings are based on a survey of 1,412 adults. They reveal clear differences between generations. People aged 50 and above are in the strongest position, with a score of +8.5, reflecting relatively better financial security.
But even as some manage to save, many are falling behind. About one-third of respondents say they now have less disposable income than they did a year ago. Older people, in particular, report a noticeable decline in their financial situation.
Despite this, around three in ten Austrians have been able to build up savings for unexpected expenses. Among those under 30, the number is slightly higher, with four in ten managing to put money aside.
Still, younger people often have only modest savings. One in five under 30 has saved between €500 and €1,000, while only one in ten has more than €5,000. In contrast, nearly half of those over 50 have at least €3,000 in savings, and one third hold more than €5,000.
At the same time, many are being forced to dip into their savings. Four in ten respondents say their disposable income has declined over the past year, while one third report that their emergency funds have shrunk.
For some older Austrians, pensions are no longer enough to cover rising costs for healthcare, housing, and care. As uncertainty grows, many consumers are choosing caution over spending, focusing on saving rather than investing.
