Mother cannot afford to take child to visit grandparents

A 40-year-old Oulu woman, Nina Ervasti, says her family cannot afford even a train ticket to visit grandparents in southern Finland this summer.

Ervasti’s partner lost their job months ago, and she works part-time in the evenings. All income now covers only essentials like housing and food. There is no separate holiday budget.

She had hoped to visit a wildlife park with her four-year-old daughter, but those plans are on hold. “I have these wild fantasies about taking a road trip to a wildlife park. I’ve always wanted to go to Ranua or Ähtäri, but now all of that has to be put on ice,” Ervasti told Yle.

She is among respondents to a Yle callout on holiday spending. Many reported having only €0–300 available for their summer break.

Banks report mixed findings on holiday budgets. Nordea says Finns are spending about €100 more this summer, with an average holiday budget of €1,279. A June survey by Lähi-Tapiola, however, found the average at €958, down roughly €40 from last year.

Rising living costs, driven by a cold winter that pushed up electricity prices and the Iran war increasing fuel costs, have reduced discretionary spending, according to Lähi-Tapiola’s chief economist Hannu Nummiaro.

Sami Heikkilä, a bank director at Pohjola OP, attributes the disparity in holiday spending to uneven income distribution. He notes that while some have significant savings, the median savings balance ranges from a few hundred euros to €12,000, depending on age group, with older Finns typically holding more.

Heikkilä adds that holiday-related costs, including cottages, hotel rooms, and package tours, have risen, as have prices for soft drinks and meat. Payment card data from May also shows increased spending on clothing and travel, while spending on restaurants, cafés, hardware stores, and groceries has relatively declined.

Heikkilä reminds that for many, the key financial decision is simply not to increase spending during the holiday.