The psychological toll of precarity: money is a daily obsession for 7 in 10 Spaniards

Almost seven in ten Spaniards think about money every day, according to Klarna's "The Clarity Effect" report, and one in four does so more than four times a day. The worry does not depend solely on salary: 36.4% of the population could not cope with an unexpected expense in 2025, according to the INE (Spain's national statistics institute).

Worry about money has become part of the daily routine of millions of people. We are not talking about that quick glance at the account before paying for groceries, but a thought that keeps coming back, even when there is no bill in sight. The "The Clarity Effect" report, produced by **Klarna**, estimates that **69%** of Spaniards think about money on a daily basis and that one in four does so more than four times a day. Almost **20%** of respondents say they mull over their financial situation while trying to fall asleep, with the toll that takes on their rest.

## A third of the population has no room for an unexpected expense

The perception data match the picture painted by official statistics. According to the **INE**, **36.4%** of the Spanish population was unable to cope with unexpected expenses in **2025**, according to the Living Conditions Survey. The percentage worsened compared with **35.8%** in 2024, although it improved on the **37.1%** of 2023. More than a third of citizens still lack sufficient resources to face an extraordinary outlay, something that in practice is relatively common: a car breakdown, a medical bill, a broken appliance.

The consequence is that any unforeseen event can completely derail household budgets that are already stretched to the limit. And that is where the loop appears: the worry about not making ends meet generates stress, and stress makes it harder to make financial decisions with a cool head.

## Negative saving affects one in three households

The **BBVA Research** study "¿Quién ahorra en España? Heterogeneidad en la capacidad de ahorro de los hogares" (Who saves in Spain? Heterogeneity in households' saving capacity) puts the share of Spanish households with a negative saving rate at **33.6%**, that is, those whose estimated annual consumption exceeds their disposable income. The difference between families is enormous. Among the 10% of households with the lowest incomes, **75.8%** spend more than they earn. In the second income decile, the percentage still reaches **52.9%**. Among the top 10% of earners, only **9.2%** show negative saving.

The study puts the median annual income of households that spend more than they earn at **25,759 euros**, compared with **42,896 euros** for those with a non-negative saving rate. That is a gap of more than 17,000 euros between the two groups, a distance that explains why the ability to set money aside each month is far from evenly distributed.

## Insecurity weighs more than lack of money

Psychology has been studying for years how this uncertainty affects well-being. A systematic review published in **2025**, which analysed **94** longitudinal studies from **24** countries, found that economic hardship was associated with worse mental health outcomes in **101 of the 116** estimates examined, especially in the case of depression. The key to financial stress, the review suggests, is more about future economic insecurity than the present situation, except in particularly severe cases.

A study published in August **2026** in **Frontiers in Psychology** found a link between economic insecurity and lower levels of happiness and life satisfaction across **29** countries. A longitudinal survey included in that research linked this uncertainty with greater fatigue when making financial decisions, which increased stress and, paradoxically, the likelihood of worsening one's own economic situation by deciding poorly. Two households with the same salary can experience very different financial security depending on their debt, family obligations, housing costs and what they manage to set aside each month.

## The obsession with appearances and spending that will not stop

There is a cultural dimension that the figures do not fully capture. The inclination to display status in order to buy social recognition is nothing new: as far back as the Golden Age, people spoke of ruined hidalgos (minor noblemen) who scattered crumbs down their shirts to give the impression they had eaten. **Luis García Berlanga** portrayed this obsession with appearances in his "escopeta nacional" trilogy, and the series "**Grande de España**" returns to the ruined nobleman who tries to keep up appearances and makes a fool of himself in the attempt.

That pressure to keep up appearances has a concrete cost for budgets that can no longer afford many extras. The Klarna report notes that **86%** of respondents prefer to know the total cost of a purchase in advance, even if it turns out to be higher than expected. In the end, the question is not only how much money a family has, but how much room it retains to respond to the unexpected without putting the rest of its finances at risk. And in far too many households, that room simply does not exist today.

This article describes data from studies and surveys on financial habits; it does not constitute financial or psychological advice. If worry about money is affecting your sleep or daily well-being, it is advisable to consult a professional.