03.06.2026
This summer, 71% of people in Estonia will have to limit their spending, according to a Norstat survey commissioned by LHV. Compared to the survey conducted at the same time last year, this figure is up by one-fifth.
According to Nelli Janson, Head of the LHV Investor Community, the results show that the monthly budgets of Estonian residents have become even tighter than before. This means that additional summer expenses are forcing many households to make difficult choices. “Summer is a time that inspires us to travel more, go out, and do things together as a family. However, in today’s economic situation, expenses must be considered especially thoroughly. When money is tight, it is inevitable to decide which expenses are truly necessary and which can be postponed or reduced,” said Janson. She noted that limiting expenses does not have to mean giving up everything, but rather more conscious planning.
The age groups that will have to limit their spending the most this summer are those aged 40-49 (73%) and 50-59 (74%). The corresponding figure is lowest among 18-29-year-olds, but even there it reaches 67%. In Janson’s opinion, this picture clearly reflects that households with young children or young adults taking steps towards independent life are the ones who have to struggle the most with planning during the summer months. “For example, parents have to pay for summer camps, graduation trips, or a rental home if their child goes to another city to continue their education after high school. These are significant expenses for the family, and therefore more concrete choices must be made and costs saved elsewhere,” said Janson.
According to her, it is especially important to get a clear overview of one’s finances during more difficult times. It is worth starting by reviewing your expenses over the last few months to identify where the money is going. “Often, you will find subscriptions with recurring payments for services that are no longer used. Also, convenience or habitual purchases and small regular costs do not seem large on their own but can lead to significant savings over a month. This small area for savings may be what gives you the opportunity to continue saving,” said Janson.
The survey revealed that nearly a fifth (18%) of people in Estonia will pause their saving or investing due to additional summer expenses. Likewise, 27% of respondents have reduced their saving or investing during some summers. 20% of the survey participants will continue saving or investing as usual. According to the results of a similar survey last year, 28% of respondents continued their usual saving and investing in the summer, which is somewhat more than this year.
Janson said that even in more difficult times, one could try to continue saving and investing, even with small amounts. A good goal is to create a Peace of Mind Fund for yourself that covers at least three months of expenses, serving as a buffer for various unexpected events. “Even if you currently have no savings at all, starting with small amounts right now will give you the chance to feel more financially comfortable next summer,” said Janson. Automating savings, for example, by using a savings account, is a good way to do this.
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