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Swedes ‘bad at saving money’: report

One in four households in Sweden has less than 10,000 kronor ($1,504) in the savings account to tide them over a financial setback, according to a new report.

Published: 21 August 2012 16:28 CEST

Swedes ‘bad at saving money’: report

When insurance company Länsförsäkringar called up 1,000 Swedes between the ages of 20 and 69, two out of ten households with an income of 55,000 kronor per month before tax said they wouldn’t manage for more than one month with their savings.

As well as 25 percent respondents admitting to less than 10,000 kronor in the piggy bank, a further 13 percent claimed to have no savings at all.

Meanwhile, very third household has savings of between 70,000 and 120,000 kronor.

Rikard Josefson, CEO of Länsförsäkringar, believes that a tax-favoured saving scheme for amounts up to 50,000 kronor would be a model that could increase

Swedes’ desire to build up buffers.

“We already know that tax incentives make a big impact on savings,” Josefson told Dagens Industry newspaper.

Furthermore, Josefson believes that there is a danger for the many Swedes who use their homes as a financial buffer.

“It is no longer possible to assume that house prices will rise in the same way asthey have during the last 10 to 15 years,” he told the paper.

TT/The Local/og

twitter.com/thelocalsweden

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How to avoid falling victim to tax scams in Sweden

Anyone who earned more than 22,208 kronor last year received their tax returns digitally last week, marking the start of tax season.

That also means an expected peak in tax-related scams, Skatteverket warns.

Most of the scams are so-called phishing scams, meaning attempts to steal the victims’ personal information. Fraudsters may for example email a person, pretending to represent Skatteverket, and ask them for, among other things, their banking details.

“We’re seeing these in all channels. They use fake emails, SMS, letters and in some cases even phone calls. It is particularly common in tax declaration times – just when we’re about to send out the tax returns, the e-service opens and it’s possible to declare – but above all when it’s time for tax rebates,” Jan Janowski, a Skatteverket expert, told Swedish news agency TT.

A scam email might for example state that you’re entitled to a tax rebate and that you should click a link to receive it. Don’t click any links, open any attachments or reply to the message. Skatteverket advises that you immediately delete the email or text message.

Another common scam is that you receive a text message claiming to be from Skatteverket, telling you that you owe them money and you need to log in to calculate the amount. The website you’re urged to log in via does not belong to Skatteverket. Don’t click the link.

The agency stresses that it never asks people for their banking details. The exception is that you may be asked for your bank account information if you log into Skatteverket’s website to declare your taxes, but that always first requires you to log into the site.

To receive your tax rebate, you need to inform Skatteverket of your bank account number. You do this not by clicking a link in an email or SMS, but by logging into their website using a digital ID, for example BankID, and submitting your details. Only do this on your own initiative. If someone calls you and asks you to log in with your BankID during the phone call, don’t do it. That’s another common scam.

Skatteverket will also never call you to ask for your bank account or credit card number.

It will be possible to declare your taxes from March 19th. You’ll receive any tax rebate you’re owed by mid-April or early June, depending on when you submit your tax return. These are the dates when fraudsters are likely to attempt the most scams.

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