The Government of Spain has made official the increase in the Minimum Interprofessional Salary (SMI) by 2021, which goes from 950 to 965 euros gross per month spread over 14 payments. However, despite this new increase of 15 euros, 19% of Spaniards who enter maximum 1,500 euros per month he claims to have difficulties to cover his expenses.
This is confirmed by a study recently posted by Cofidis, the financial institution specialized in granting credits and loans. According to research on the personal and family economy of Spaniards, respondents have to face expenses that far exceed not only what a worker who receives 965 euros from the SMI, but also those who enter a salary of 1,500 euros .
In addition, another factor that does not favor savings has to do with the rise in the electricity bill, which continues to reach record prices, which this week marks its eighth record in September and is paid at 189.9 euros / MWh. To which the price of fuel is also added. In fact, filling the gas tank today will be 16 euros more expensive than just a year ago.
What do Spaniards spend their money on?
In the ranking of payments, according to the Cofidis Observatory of the Home Economy, the first place is led by living place, with 444 euros, followed by feeding which is situated around the 374 euros approximately. To all this must be added other concepts related to the education, stipulated in 150 euros, together to the supplies from home, 137 euros, and the transport, which is calculated in 113 euros.
You also have to take into account other receipts such as those of day and night leisure, which add up 206 euros next to telecommunications expenses, such as the Internet connection, 83 euros. To the above, we should add clothes and shoes, with 77 euros, care, 67 euros and hobbies, such as going to the gym, which means 59 euros at the end of the month.
The rise in prices in Spain
In the last twenty years, the Consumer Price Index (IPC) has skyrocketed by 40%. However, salaries have only done so by 10%. This is directly reflected in the fact that the cost of living in Spain is considerably higher than that of the salaries received by workers in our country.
Therefore, with lower purchasing power, it is difficult to maintain an average standard of living. In addition, on the other hand, we must add another factor that has to do with the salary of young people under 30 years of age, for whom it is very difficult to access the purchase of a home and even access a mortgage due to the large number of requirements.
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