Population less satisfied with financial situation than with life in general

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The Portuguese resident population felt less contented with their financial situation than with life in general in 2022, with this dissatisfaction being more pronounced in older age groups, according to data released today by INE.

The 2022 Living Conditions and Income Survey conducted by the National Statistics Institute (INE) and directed at people aged 16 or older included questions on satisfaction with specific domains, namely satisfaction with the household’s financial situation, personal relationships, and free time, as well as on how frequently individuals felt happy and the presence of social support.

In 2022, the average level of satisfaction with the financial situation was 6, which was lower than the average level of satisfaction with life as a whole (7 on a scale of 0 [not at all contented] to 10 [completely satisfied]).

According to the data, 39.3% of respondents were dissatisfied with their household’s financial situation, compared to 12.8% who were extremely satisfied.

“The percentage of people with a medium or high assessment of the household’s financial situation was lowest in the oldest age groups, accounting for less than 60% from age 50 onwards, while the 16 to 24 age group has the lowest proportion of people with a low level of satisfaction (25.7%) and the highest proportion of people with a high level of satisfaction (23.4%),” conclude INE’s data.

INE adds, “The proportion of people with a higher education who are satisfied with their financial situation was 16%, 3.2 percentage points (p.p.) higher than the proportion of those with a secondary education and 4.8 percentage points (p.p.) higher than those with a primary education.”

According to the survey, the average level of life satisfaction in 2022 was seven on a scale of ten, which was lower than the previous year (7.1) and higher than in 2018 (6.8).

Personal relationships were, on average, the most satisfying aspect of life for the 16-and-over population (8.2), while the financial situation of the household was the least satisfying (6.0). The average level of satisfaction with available leisure time was 7.

Trust in individuals in general (excluding family and friends) was higher in 2021 and 2022 (5.6 and 5.7) than it was in 2018 (5.2).

In 2022, 65.8% of the population aged 16 and older reported feeling happy always or most of the time, and 78.5% reported feeling lonely and isolated never or rarely.

About a quarter of this population (24.9%) reported meeting with relatives every day, while 42.2% reported doing so every week, indicating that the majority (67.1%) met with relatives at least once per week.

In the same year, 55.9% of the surveyed population reported going to the movies (26.4%), attending at least one live show, such as a theater, concert, or outdoor cultural event (30.8%), visiting a place of cultural interest, such as a museum, historical monument, art gallery, or archaeological site (36.2%), and attending live sporting events (23.8%).

The majority of respondents (58.1%) reported that they had never read a book in the preceding year, primarily due to lack of interest (65.7%). Over 40% of respondents said they had read at least one book, and nearly 70% said they had read between one and four.

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