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K&H: Young employees expect higher expenses

Food

Young employees need to spend increasingly more on everyday expenses, a survey conducted by K&H Bank shows. Most of them expect costs to grow further.

Roughly one-third of employees aged 19-29 responded that their expenses have grown in 2017, compared to one year before. In the case of food, 41% of the respondents said they had to pay more, 31% said the same for clothes and 27% for technology products. A further 35% said they could afford to spending more on entertainment, K&H said, as cited by business portal hvg.hu.

Most of the respondents (40%) said this year they will spend more on clothing and 39% plan to increases spending on holidays. As for savings, less than 30% were able to save more money than one year before. A further 19% could save less than one year before and 23% said they were unable to save at all. Slightly more than one-third, 38% could increase their savings last year, K&H says.

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