Maltese households report slightly greater financial satisfaction than EU peers 

Satisfaction with household finances across Europe shows sharp regional contrasts, with Northern and Western European countries reporting the highest levels, while candidate countries in the Balkans record the lowest. Malta, however, sits slightly above the EU average, according to the latest data from Eurostat.

The figures come from the EU’s statistics on income and living conditions (EU-SILC), which measure households’ satisfaction with their financial situation on a scale from zero (“not at all satisfied”) to 10 (“completely satisfied”). The survey takes into account factors such as adequacy of income, savings levels, ability to pay debts, capacity to meet emergencies, and overall household assets.

Malta modestly above the EU average

In 2022, Europeans rated their financial satisfaction at 6.6 out of 10 on average. Malta scored 6.8, placing it just above the EU benchmark and in line with larger economies such as Germany, Ireland, and Luxembourg.

This score positions Malta alongside a cluster of Western European countries that hover between 6.7 and seven, though still notably behind the leading Nordic states.

At the top of the ranking are the Netherlands and Finland, both averaging 7.6, followed closely by Switzerland (7.5), Norway and Sweden (7.4). Austria (7.3), Iceland (7.2), and Belgium, Denmark, and the UK (7.1) also score strongly.

At the other end of the scale, Bulgaria records the lowest level of financial satisfaction at 4.6, with Turkey, Albania, Montenegro, North Macedonia, and Serbia not far ahead. Greece also reports low satisfaction at 5.3, below most of its Southern European peers.

Big economies show mixed results

Among Europe’s largest economies, Spain (6.3) and France (6.4) both fall below the EU average, while Italy (6.7) and Germany (6.8) perform only slightly better. The UK reports the highest satisfaction among the group at 7.1.

Interestingly, Germany stands out as an outlier: Despite being Europe’s largest economy and one of the world’s strongest, its financial satisfaction levels remain comparatively low.

The link between income and satisfaction

Unsurprisingly, Eurostat’s figures show that satisfaction generally increases with higher net earnings. Around 51 per cent of the variation in financial satisfaction can be explained by income levels in euros, while 55 per cent can be explained by income adjusted for purchasing power standards (PPS).

Yet income is not the only factor. Romania, for instance, scores a relatively high seven despite low average earnings (€9,084). By contrast, Luxembourg (€46,885) and Germany (€35,597) score lower than expected, both at 6.8. Malta, with its 6.8 score, falls in line with this pattern – suggesting that cost of living, inflation, and broader economic perceptions weigh heavily on households’ sense of financial security.

A reflection of economic sentiment

Financial satisfaction is not purely a reflection of earnings. Perceptions of economic stability, inflation, housing affordability, job security, and access to social protection also play an important role.

For Malta, being slightly above the EU average indicates relative resilience compared to some peers, but the country still lags far behind top performers like the Netherlands, Finland, or Switzerland.