ADVERTISEMENT

55% of young people have savings

Food

Currently, 55% of young people have savings, according to the K&H Group’s latest youth index for the first quarter of 2020, writes penzcentrum.hu. 

This is an excellent result compared to the 41% found two years ago, the report notes.

The most conscious saving behavior is when a pre-determined amount is set aside at the beginning of the month. K&H’s survey revealed that this is typical for only 30% of young people between the ages of 19 and 29.

Fortunately, the group of young people who do not set aside a certain portion of their monthly income at all is shrinking.

In the first quarter of this year, only 17% of those surveyed said they could not afford to put money aside, a significantly lower rate than the 30% measured in the last quarter of 2018, meaning an increasingly conscious willingness to save can be traced from the quarterly survey, penzcentrum.hu notes.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.