How financially healthy is the Netherlands?

Compared to the economically tough year of 2022, we see cautious improvements in 2023. The number of financially healthy households increased to 26% (compared to 21% in 2022), while the number of financially adequate households also increased to 21% (compared to 19% in 2022). The percentage of financially Vulnerable and financially Unhealthy households has decreased from 60% in 2022 to 53% in 2023. Nevertheless, it is still too early to conclude that there is a structural upward trend.

Netherlands in financial health levels in 2021, 2022 and 2023, in %

In our annual survey, we look at the relationship between the five domains that influence financial health: Income, Spending, Saving, Borrowing and Planning. The challenge is to find constant balance across the full spectrum of financial health, for all Dutch people, not just the most vulnerable. This holistic perspective has now become the standard for many parties involved in financial health.

Striking results from the study

• Cautious improvement in financial health of Dutch households: In 2023, Dutch households were better able to keep their financial domains in balance, partly due to wage increases, support measures and lower inflation. This allowed a larger number of households to build up financial buffers. This resulted in an improvement in the domain scores on the domains Income, Expenses and Savings. The scores in the Borrowing and Planning domains show few shifts and appear to be the most consistent factors over the past three years.
• 41% of Dutch people rarely or never talk about their finances: Despite the need to talk about financial matters, the survey shows that 41% of Dutch people rarely or never talk about their finances. If financial matters are not discussed, problems can go unseen for longer. However, the research shows that the Dutch do not easily start a conversation about their financial affairs. 15% of the Financially Unhealthy Dutch never talk about their finances. 32% of the group indicate that they find the subject too personal, 34% do not feel the need for it and 11% indicate that they are ashamed of their situation.
• 18-24-year-olds are better off financially, but remain vulnerable and take risks: Although a larger proportion of 18-24-year-olds are financially healthy, it remains worrying that more than two-thirds of them are financially vulnerable or financially unhealthy. This age group is also more likely to use riskier products and/or services, such as online gambling, investing in cryptocurrencies and using 'Buy now, Pay later'
• services. The difference between men and women has widened: In 2023, both men and women were more likely to have the health level financially healthy or financially adequate, a positive development. Nevertheless, the gap between men and women has widened; Men caught up more than women in 2023. Despite cautious improvements, women still often find themselves in an uncertain financial situation. In terms of financial behaviour, we see some interesting differences between men and women. For example, in 2023, women (45%) were more likely than men (30%) to make purchases they regretted afterwards and women were more likely to use Buy Now, Pay Later (45% of women versus 27% of men).

Financial Health Scale

In this report, Deloitte charts the financial health of Dutch households. To this end, we have developed a methodology with our partners to measure financial health. As a result, we can score Dutch households on a financial health scale with corresponding health levels. The scale is intended to provide new insights, but also to encourage Dutch people to change themselves and to enable organisations to support them in the best possible way. In this way, we want to contribute to improving the financial health of all Dutch people.

We examined the financial health of Dutch households by asking them about their situation, behaviour, attitudes and feelings when it comes to the underlying domains of Income, Spending, Savings, Borrowing and Planning and the balance between them. We also took their knowledge of financial matters and their overall financial attitude into account.

Working together for a financially healthier Netherlands

Making the Netherlands financially healthier is more important than ever and an ongoing process. Deloitte can and wants to be a driving force in this. What steps can be taken to contribute to a financially healthier Netherlands?

• Strengthening collaboration within the financial ecosystem: Financial health is a collective interest. That is why everyone must take responsibility for supporting the financial health of the Dutch people. Deloitte, together with ING and SchuldenlabNL, has strengthened this joining of forces by establishing the National Coalition for Financial Health (NCFG), a partnership of employers who together strive to make the Netherlands financially healthier, contributing to the well-being of individuals, organisations and the economy. The NCFG now has more than 40 members and sees potential for further expansion and impact.

• Increase financial knowledge and skills of all Dutch people: Financial education should be an integral part of the formal school curriculum for all Dutch people from an early age. Until this is realised, effective collaboration within the financial health ecosystem is crucial to ensure consistent and quality education. Accessible education, adapted to diverse needs, is needed, especially for (financially) more vulnerable groups with. Co-ordination between providers is essential for uniformity, accessibility and quality and promotes equal opportunities for all Dutch people.

• Work on your own financial health: Promoting financial health is a shared responsibility of organisations and individuals. Households are encouraged to work on their financial health within their means, starting with insight and overview of their financial situation. Effective financial planning, both in the short and long term, remains essential, as highlighted in our research. Regular planning helps achieve goals and address challenges. Constant attention and action are needed because financial health is in constant flux. Tools such as Nibud's Financial Health Check can support this.

Financial health will continue to be high on the agenda in the coming year. Together with our partners and customers, we strive for a financially resilient Netherlands.

For all results and recommendations, you can download the research report via the button at the top of the page. 

Previous research reports: 

• Financial health for 2021 
• Financial health for 2022 

Have you got any questions or are you interested in how you can contribute to a financially healthier Netherlands? Get in touch with us.