🇫🇮 Finland·ECB household survey · 2023
Am I rich in Finland, if you don't count the house?
Type what your household holds in savings and investments. Property and state pension entitlements stay out of it.
My household holds € in savings and investments.
Count bank and savings deposits, mutual funds, bonds, listed shares, voluntary pension plans and whole life insurance, and money owed to you. Leave out the home, other property, vehicles, business equity, and entitlements from state or workplace pension schemes.
Households in Finland you hold more than
50%
Above the middle
Past the €15,500 median. Worth remembering how low that bar sits: half of all holders are below it.
€15,500 is right at the €15,500 median for Finland. Half of the households that hold any financial assets sit below that line, and half above it.
The published ladder
Where savings and investments actually sit in Finland.
Among the 100.0% of households in Finland that hold any financial asset, the median total is €15,500 and the mean is €75,400. The gap between them is the story: a small number of large portfolios pull the average far above the middle. Across the euro area the median is €16,600.
Tenth percentile
€400
A tenth of the households with any financial assets in Finland hold no more than this.
Median
€16K
Half hold less than this. The mean is €75K, which is what a handful of large portfolios does to an average.
Ninetieth percentile
€155K
The top tenth in Finland starts here. The survey publishes nothing above it, so there is no top 1% number.
€15,500 places you above 50% of the households in Finland that hold any financial asset.
Against the euro area as a whole you would be above 48% rather than 50%.
Who owns what
Almost every household in Finland has a bank account. After that it thins out fast.
39.1% of households in Finland hold mutual funds and 25.0% own listed shares directly, against 14.2% and 11.4% across the euro area. Deposits are close to universal everywhere. Everything below them is a minority position, and that is what makes the medians in the next column so much larger than the median for the whole country.
Asset
Households owning
Median among owners
Deposits
100.0%
€7,500Euro area: 99.1% own it
Mutual funds
39.1%
€7,000Euro area: 14.2% own it
Bonds
0.1%
Not publishedEuro area: 3.5% own it
Listed shares
25.0%
€6,300Euro area: 11.4% own it
Money owed to the householdFI7
Not collected
Not collectedEuro area: 6.6% own it
Voluntary pension and life insurance
24.4%
€15,000Euro area: 27.5% own it
Other financial assets
17.5%
€3,000Euro area: 11.2% own it
Ownership is compared with the euro-area rate on every row. Medians are among the households that own that asset, so a large median tells you nothing about how common the asset is.
- Money owed to the household was not collected in Finland at all (note FI7), so the zero the table prints in that row is an absence of data, not an absence of lending between households.
- Most financial-asset values in Finland come from administrative registers rather than survey answers, which usually makes them more accurate but changes what some categories cover.
- Managed accounts were not collected in Finland (note FI6), so they cannot appear under other financial assets.
- Valuables were not collected in Finland (note FI4), which affects the real side of the split rather than the financial side.
Where the money sits
What financial wealth in Finland is actually made of.
37.6% of financial wealth in Finland sits in deposits, against 44.1% across the euro area, and 12.9% sits in voluntary pension plans and life insurance. The mix decides how much of it is invested at all, which over a decade matters more than the total.
Deposits37.6% · EA 44.1%
Mutual funds17.2% · EA 13.3%
Listed shares18.4% · EA 9.7%
Voluntary pension and life insurance12.9% · EA 18.3%
Other financial assets13.9% · EA 9.8%
Shares of the total financial assets held by households in Finland. Where the survey published no figure, the item is left out rather than drawn as zero.
The other half
What happens when you put the house back in.
Financial assets are 27.2% of everything households in Finland own. The other 72.8% is real: property above all, plus vehicles, valuables and business equity. Across the euro area the financial share is 20.7%. This is the number behind the question in the title, and for most households it means the majority of their wealth cannot be spent without selling where they live.
Financial
27.2%
Everything on this page, as a share of total household assets in Finland.
Real
72.8%
Property, vehicles, valuables and business equity in Finland, none of which a monthly statement tracks.
Euro area, financial
20.7%
The euro-area financial share is 20.7%, against 27.2% in Finland.
Three numbers and an outlier
What these numbers look like from the outside.
Financial share of total assets
27.2%, the highest of the 10 countries here
27.2% of what households in Finland own is financial rather than real. It is the cleanest measure of how much of a country's wealth is liquid enough to watch move month by month.
Households with any financial assets
100.0%
Every percentile on this page is measured among these households. The remaining 0.0% in Finland hold nothing at all, and the survey publishes no distribution for them.
Own listed shares directly
25.0%
Against 11.4% across the euro area. Another 39.1% of households in Finland hold mutual funds, which is the other way into the same markets.
Financial wealth held in deposits
37.6%
Against 44.1% across the euro area. Deposits are the safest place to keep money and the surest way to lose its purchasing power slowly.
Now put the house back in
Property, vehicles and business equity are the other 72.8% of what households own. See where your whole balance sheet lands.
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The cash half is the half that does not compound
37.6% of financial wealth in Finland sits in deposits, against 44.1% across the euro area. Deposits keep their number and lose purchasing power slowly; funds and shares are where the larger balances on this page come from. Capital at risk.
We've used this for years
Being above the €15,500 median in this data is a lower bar than it sounds. The number that matters now is your own, tracked over time.
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Next steps
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Frequently asked questions
Among the 100.0% of households in Finland that hold any financial asset, the median is €15,500 and the mean is €75,400, 4.9 times higher (ECB HFCS Wave 2023, Table C3). The mean is the wrong number to measure yourself against: a small number of large portfolios lifts it, while the median describes the household in the middle. The euro-area median is €16,600. Most Finnish financial-asset values come from administrative registers rather than survey answers (note FI2), which usually makes them more accurate than self-reported figures.
€154,900 (ECB HFCS Wave 2023, Table C3). That is the ninetieth percentile among households holding any financial asset, and it is the highest threshold the survey publishes: there is no top 5% or top 1% figure in these tables, so any such number quoted for this survey has been extrapolated by someone rather than measured. At the other end, a tenth of holders have €400 or less.
25.0% own listed shares directly and 39.1% hold mutual funds (Table C1), against 11.4% and 14.2% across the euro area. Deposits, by contrast, are held by 100.0% of households. The dividing line in this data is not who saves but who invests, and it falls in very different places from one country to the next.
€50,000 places a household above about 72% of the households in Finland that hold any financial asset. It is 3.2 times the median of €15,500, and still below the top-tenth threshold of €154,900. Both comparisons are worth holding at once: the multiple sounds large because the median is low, not because the amount is high.
37.6% of financial wealth in Finland sits in deposits, 17.2% in mutual funds, 18.4% in listed shares and 12.9% in voluntary pension plans and life insurance (Table D3). The euro-area split is 44.1% deposits and 18.3% pensions. Mutual funds account for 17.2%, the highest share of the eight countries here where that figure is comparable, and the survey published no bond figures for Finland at all.
72.8% of everything households in Finland own is a real asset: property above all, plus vehicles, valuables and business equity. Only 27.2% is financial (Table D1), against 20.7% across the euro area. That is the answer to the question this page asks. Take the house out and most balance sheets shrink to a fraction of their headline size, which is why a net-worth figure and a savings figure feel like they describe two different households.
Deposits in current and savings accounts, mutual funds, bonds, listed shares held directly, money owed to the household by people outside it, voluntary pension plans and whole life insurance, and other financial assets such as managed accounts. It excludes the main residence and any other property, vehicles, valuables and business equity, and it excludes entitlements from state and workplace pension schemes, which for a typical employee are worth more than everything on this list combined.
Among the households that hold them, the median mutual-fund holding in Finland is €7,000, the median direct shareholding is €6,300 and the median voluntary pension or life insurance is €15,000 (Table C2). These are medians among owners, not among all households, so a large figure here says nothing about how common the asset is: 39.1% hold funds and 25.0% hold shares.
Three reasons, all visible in the same tables. The distribution is conditional on holding something, which in Finland excludes nobody: every household reports at least one financial asset. 37.6% of what is held sits in deposits rather than in assets that grow. And financial assets are 27.2% of household wealth here, against 20.7% across the euro area. That is the largest financial share of the ten countries covered here, so the low median is about how much Finnish households hold, not about where they hold it.
More of them own something, yes: 25.0% hold listed shares and 39.1% hold mutual funds, the highest rates of the ten countries here and roughly double the euro-area 11.4% and 14.2% (ECB HFCS Wave 2023, Table C1). The amounts are another matter. Among owners the median shareholding is €6,300 and the median fund holding €7,000 (Table C2), both small. Two rows also carry warnings: money owed to the household was not collected in Finland at all (note FI7), so the zero in that row is missing data rather than an absence of lending, and the survey published no bond figures for Finland.
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