About 60% of Spaniards face greater difficulty making a living than a year earlier, even after trimming family expenses in three key areas: energy, finances, and food plus entertainment. This finding comes from the report Spanish households versus inflation in 2022: family spending and savings in the current economic scenario, produced by the Home division of Línea Directa Aseguradora.
Regions like Navarre (70%), Andalusia (68%), and La Rioja (65%) report higher challenges in making ends meet compared with the national average. In contrast, Castilla y León (51%), Valencian Community (53%), and the Basque Country (54%) show somewhat fewer difficulties relative to the country as a whole.
The surge in energy costs clearly left a mark on the 2022 household budget. The study notes that 44% of Spaniards perceived electricity and gas bills rising by more than 20%. This pressure explains why about nine in ten Spaniards reduced energy consumption at home over the past year.
For 43% of respondents, the main strategy for cutting energy spend was to curb usage, with 35% taking advantage of cheaper time slots to consume more responsibly.
Energy efficiency
Energy efficiency in homes remains a pressing task for Spain. Around 70% of Spaniards are not considering major home renovations to improve efficiency and sustainability, mainly due to the additional costs involved and the uncertain return on investment.
Nevertheless, 14% of Spaniards have already installed or are considering the installation of solar panels, and 21% plan to do so. The formalities and administrative procedures, however, tend to slow progress.
Moving within the energy block, the study highlights that reducing car use is another effective way to conserve energy and lower the household carbon footprint.
Six in ten Spaniards report using their car less and turning to public transport more often. The share of people who view the free train pass positively is 76%, especially among the youngest, where 81% express approval. About 35% have already requested or plan to request the pass in the near term.
In the financial block, roughly 80% of Spaniards say they have had to dip into savings at some point to cover living costs. About 20% rely on credit to bridge gaps when money is tight. Only 22% manage to save every month, while a third save less than 100 euros monthly.
The report suggests that a common way to reduce expenses at home is to switch service providers for utilities, banking, or insurance in search of lower rates. About half of Spaniards have switched at least one utility or service provider to secure better prices.
People tend to switch telephone or energy providers more often, followed by changes in banks or insurers. In the 2023 outlook, 27% of Spaniards planned to switch insurance companies, yet half continue to spend on insurance, and 13% planned to expand coverage or opt for more comprehensive plans.
The current economic climate has prompted tighter financial conditions for many households, including mortgage management. The analysis shows that 23% of Spaniards considered moving from a variable rate to a fixed mortgage to guard against payment risk, while seven in ten prefer not to alter their mortgage type due to concerns about worsening finances.
On the food and entertainment front, more than 65% of Spaniards expect to cut back on discretionary spending in the coming years, with Christmas budgets tightening for food and gifts. This trend appears not only for the immediate future but also for 2023 projections, as eight in ten Spaniards anticipate scaling back on leisure activities, clothing, food, and travel.
In response to tighter budgets, many households altered their grocery shopping patterns. About half changed their usual shopping list over the last year, opting for lower-cost options. Replacing premium brands with basic store brands (22%), choosing cheaper items like chicken or pork or frozen fish (13%), and buying fewer fresh items such as beef and fish (10%) are among the strategies cited by families trying to save a little each month.
Taken together, the report portrays a country where inflation and higher prices have reshaped daily life. Households adapt through a mix of energy conservation, vehicle use adjustments, savings discipline, and strategic changes in shopping and insurance choices, all while navigating uncertain mortgage conditions and a cautious outlook for the next year. The findings offer a snapshot of how Spaniards balance budget constraints with ongoing needs for comfort and stability in a challenging economic climate. (Línea Directa Aseguradora, Home division, 2022 report, attribution.)