Tuesday, 01 December 2020

Croatians save on average 479 Kuna per month for that rainy day

By  Oct 28, 2020

The awareness of Croatian citizens about the importance of savings has not changed in the last year despite the crisis caused by the coronavirus pandemic, and 83 percent of them think it is important to save, and the average savings are 479 Kuna per month, according to a survey by Erste Bank.

The survey was conducted in September for Erste Bank on a sample of 500 respondents by the IMAS agency.

Most respondents who consider savings important belong to the age group between 15 and 29, as many as 92 percent.

The motives for saving are various, so most respondents save to create a financial background for unpredictable situations (77 percent), 21 percent save for when they get older, or retirement, and a smaller part for education and training (four percent).

The average amount of monthly savings of Croatian citizens increased by 10 Kuna compared to last year, to an average of 479 Kuna a month. Men save an average of 513 Kuna a month, and women 450 Kuna. Nearly 60 percent of savers said they saved the same amount as in the past few years, while 21 percent said they saved slightly less this year, mostly due to rising living costs, while incomes remained the same.

About 41 percent of respondents use savings accounts to save their money, slightly less than in 2019, when 43 percent of respondents kept their money that way. Likewise, 18 percent of respondents keep funds in the form of life insurance and the percentage of those who save in cash has increased slightly, from nine to 10 percent.

Erste conducted the survey in other countries as well. The Austrians save the most money on a monthly basis, 272 Euros, which is 13 Euros more than last year. They are followed by Slovaks and Czechs with 113 and 109 Euros, respectively, while the fourth place is shared by Croats and Hungarians who save the same amount of 63 Euros per month, while the savings of Hungarians decreased by two Euros compared to last year. According to the survey, Romanians save 59 Euros a month and Serbs 44 Euros, an increase of four Euros from last year.


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