Household debt relative to income is currently at a record high in Finland and Sweden. High household indebtedness exposes both the financial system and the economy to risks. In Finland, home loans are typically paid off faster than in Sweden, which makes an average Finnish household with a mortgage less indebted. The comparison does not, however, dissipate national concerns. Rather, it shows that, if Finland follows the path that Sweden has taken, it would further increase both debt levels and risks.