When they have the choice, people in Madeira and the Azores are more likely than anyone else in Portugal to use their savings to pay off debts. That is one of the findings of the European Consumer Payment Report Portugal 2026, published by the debt collection company Intrum.
The report gives one combined figure for the two autonomous regions. It does not show Madeira on its own.
Only 31% in Madeira and the Azores Prefer to Keep Their Savings
Asked whether they would keep their savings or use them to pay off most or all of their debts, only 31% of consumers in the two island regions said they would keep the money. That is the lowest share in the country and eight percentage points below the national average of 39%.
Alentejo Residents Are the Most Careful With Savings, at 53%
The contrast with the Alentejo is large. There, 53% of people would keep their financial cushion, even with debts still to pay. In the Algarve the figure is 35%, and in the North it is 34%.
The study also found a gender gap. Some 48% of men prefer to hold on to their savings, against 29% of women. By generation, Boomers value this most, with 44% choosing not to use their savings to clear debts.
65% in the Island Regions Save Monthly for Emergencies, Lowest in Portugal
People in Madeira and the Azores are also less likely to put money aside for a rainy day. In the two regions, 65% of consumers say they save every month for unexpected events, such as a loss of income.
That is the lowest share among the regions studied, and seven percentage points below the national average.
Portugal's Monthly Emergency Saving Rises 12 Points to 72%
Across the country, the share of people who save monthly for emergencies reached 72%. That is 12 percentage points more than the 60% recorded in 2025, and above the European average of 66%.
In total, 65% of Portuguese consumers say they put saving first, even if it means giving up things or experiences they enjoy. That share rose two points from 2025 and is 16 points above the European average.
70% of Portuguese Could Now Cover an Unexpected 400 Euro Bill
Confidence is growing too. Some 70% of people in Portugal believe they could pay an unexpected bill of 400 euros without borrowing, up from 57% the year before.
According to the report, 79% think they can pay all their monthly bills, eight points more than in 2025. And 80% say they can cover essential costs such as food and fuel.
But the gaps are wide. Men (79%) are much more confident than women (59%) about covering a 400 euro surprise. Households without children (74%) are also more confident than those with children (60%).
Source: jm-madeira.pt
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