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55% of young people have savings

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.