Is this normal? Half of Spaniards have less than €5,000 in savings

Nearly half of Spain's population has less than €5,000 in savings and one in ten has nothing set aside, according to a Mintos survey of more than 1,200 people. Some 33.6% of households have a negative savings rate: they spend more than they earn.

There is a figure that keeps coming up in dinner-table conversations and, once laid on the table, makes more than a few people uncomfortable. Nearly half of Spaniards have less than €5,000 in savings. We are not talking about investments or private pension plans: we are talking about money available for an emergency, that cushion that is supposed to separate peace of mind from distress. And one in ten citizens, quite simply, has nothing. Zero. The survey was conducted by **Mintos**, based on more than **1,200 people** in Spain, and its results were released to coincide with World Savings Day, celebrated on **31 October**.

The picture is not uniform, of course. Some people save with discipline and others cannot make ends meet. But the headline figure is stubborn: the average Spanish household's savings pot is fragile, very fragile. So fragile that any unexpected blow — a car breakdown, a medical bill, a month without work — can turn into a serious problem. And in an economy where consumption underpins much of the growth, that has consequences beyond each household's current account.

## One in three households spends more than it earns

The **BBVA Research** study entitled "Who saves in Spain? Heterogeneity in households' saving capacity", written by economists **Noelia Cámara** and **Sirenia Vázquez**, puts numbers to that fragility. According to their estimates, **33.6%** of Spanish households have a negative savings rate: their annual consumption exceeds their disposable income. In other words, one in three households lives beyond its means, not necessarily out of extravagance, but because their income simply is not enough.

The link with income level is direct. Among households in the **lowest-income 10%**, **75.8%** spend more than they earn. At the opposite end, among the 10% of households with the highest incomes, that proportion falls to **9.2%**. The median annual income of households with negative savings stands at **€25,759**, compared with **€42,896** for those that do manage to save. The gap is no small matter: nearly €17,000 a year separates the two groups.

That gap explains why a high national savings rate can conceal situations of vulnerability. Families with fewer resources devote a larger share of their income to covering basic expenses — housing, food, utilities — and are left with little or no margin to set anything aside. The macro figure, the one printed in newspapers, dilutes those realities. According to the **INE** (Spain's national statistics institute), in the second quarter of the year the savings rate stood at **11%** of gross disposable income, adjusted for seasonal and calendar effects. A percentage that, looked at closely, hides empty pockets.

## How much Spaniards save month by month

Data from **Mapfre**, collected in its report "How do Spaniards save? Trends and opinions on saving and investing", offer another perspective. Seven in ten Spaniards manage to save, although the amounts are modest. On average, they set aside around **€265 a month**. There is a gender gap: men save **€306** a month compared with **€236** for women. One group, roughly **20%** of the total, pushes the average up with more than **€400** a month.

Averages, as we know, can be misleading. According to a **2025** survey by **Funcas**, households earning between **€4,000 and €5,000** a month save around **€750 a month**, while those with incomes between **€600 and €1,000** set aside barely **€190**. The difference exceeds **€560** a month, more than **€6,700** a year. There lies the key: for some, saving is a cushion; for others, an unattainable luxury.

The Mapfre study also points to the reasons why many people cannot save: insufficient income, difficulty making ends meet and the rising cost of living. In fact, **59%** of those who currently do not save say they used to. In other words, this is not only a structural problem of low income, but also a savings capacity that has been deteriorating over time.

## Household composition matters too

The BBVA Research study adds a factor that is often overlooked: family structure. Each additional member is associated, on average and holding other characteristics constant, with a savings rate **9.75 percentage points lower**. The relationship is stronger among families with less economic capacity. Having children, caring for a dependent or sharing a home with more people makes daily life more expensive and reduces the margin for saving.

That detail helps explain why saving does not depend solely on individual willpower. Some argue that all it takes is trimming expenses and giving up little luxuries, but the numbers show that in many households basic spending already consumes almost everything. The Mintos survey, the BBVA Research study and the Mapfre report all paint the same picture: a significant part of the population lives on the edge of its income, with no safety net. And in economic terms, that is a vulnerability that sooner or later takes its toll.

We are talking about money, so prudence is in order: the data come from surveys and studies with different methodologies, and no single figure should be taken as an absolute truth about any particular household's situation. But the overall picture is hard to dispute.