A recent survey conducted by Nickel has revealed that 56% of Spaniards opening accounts in tobacco shops and lotteries allocate at least 40% of their salary to fixed expenses.

Furthermore, the report indicates that 30.2% of respondents dedicate more than half of their income solely to these mandatory costs, while another 26% require at least 40% of their earnings to cover essential expenses.

In stark contrast, only 14.7% of those surveyed manage to keep their fixed expenses within 20% of their salary.

The survey highlights the alarming state of savings among the populace, with 19.1% of respondents admitting they have no savings at all, a significant increase from 7.5% in 2024. This escalation reflects the growing financial pressures faced by households, which Nickel España CEO Mónica Correia attributes to the rising cost of living, emphasizing the need for accessible financial solutions to help individuals manage their cash flow more effectively.

To cope with the escalating living costs in 2025, 56% of respondents plan to reduce spending on non-essential items such as clothing, technology, and leisure activities.

A further 32% intend to reuse products or shop second-hand, while 25% are looking for ways to generate additional income, whether through taking on a second job or investing in cryptocurrencies.

The survey also reveals that 15.8% of respondents are considering taking out loans or using credit cards to cover their expenses, underscoring the extent to which some households are resorting to alternative financing methods.

Among younger individuals aged 18 to 30, the propensity to incur debt is more pronounced, with 22.5% willing to borrow and 31% inclined to invest in cryptocurrencies, exceeding national averages by 7 and 6 percentage points, respectively.

Despite adjusting their spending and seeking new sources of income, many Spaniards express a sentiment of resignation regarding their financial prospects.

57% believe their economic situation will remain unchanged compared to 2024, an increase of eight points from the previous year.

Conversely, only 37% have confidence that their circumstances will improve, while 9.6% fear deterioration.

Pessimism is particularly prevalent among those aged 65 and older, with 79% predicting their economic situation will remain stable.

Merely 6% in this age group anticipate improvements.

The rising cost of living is not having a uniform impact across all demographics, with generational differences becoming increasingly apparent.

Young people under 30 are disproportionately affected in terms of emotional wellbeing; 34.5% report that financial worries are impacting their mental health, a figure significantly higher than the 19% among those over 65 years old.

Moreover, accessing housing poses a substantial challenge for younger individuals, with 36% in this age group citing the inability to buy or rent a home as their primary economic concern, while only 13.5% of seniors share this anxiety.

In contrast, while individuals over 65 also navigate economic uncertainty, their situation differs markedly: 44% report that they have effectively planned their savings and can manage unforeseen expenses, a stark comparison to just 7% of their younger counterparts feeling financially secure.