From 5 April, tax refunds will begin to be paid for those who have declared digitally no later than 30 March and reported a payment account to the Swedish Tax Agency. Others will have to wait until the beginning of June.
In a survey conducted by Svea bank, more than half, 54 percent, of the more than 1,200 respondents answer that they will save the money – if they get SEK 5,000 or more back on the tax.
"I think it's a sign of the times. We have had a completely different economy in the past year with more expensive electricity, rising interest rates and higher food prices, says Annika Creutzer, who is both a financial journalist and board member of Swedbank.
Travel decreases the most
Compared to a corresponding survey from 2019, the big difference is that fewer people now plan to spend their money on travel. In 2019, 23 percent of respondents said they wanted to travel for money, but this year that figure is only 14 percent.
"For many, this is a time when they don't want to take unnecessary risks and, for example, borrow for a trip," says Annika Creutzer.
The share of those who primarily plan to use the tax refund for food and household expenses is also 14 per cent, the same figure as four years ago. The difference, however, is that in 2019 it meant fifth place on the list, compared to a shared second place this year.
Does not pay off the loans
The survey also shows that a lower proportion of respondents plan to use the tax refund to repay debts and loans. But it is wrongly conceived, says Annika Creutzer:
"This is a time when we earn quite well from paying off, especially on expensive consumer loans.
According to her, variable interest rates on mortgages, consumer credits and other things are also expected to become more expensive in the next six months.
"So even though it's sad, it's probably wise, especially if you have expensive debts, to use the tax refund to at least reduce them.