K&H: Young people saving more

Banking

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The willingness of young people to save has increased, according to a survey from K&H, writes profitline.hu.

The K&H youth index has been measuring the financial behavior of 19-29-year-olds for years, which shows that saving is becoming more common year after year.

In March 2021, 60% of young people had money set aside. The analysis also shows that more people are consciously planning their expenditures while using less cash.

According to K&H data, the use of mobile banking jumped enormously in 2020, compared to the previous year. Meanwhile, the older age group also became digitally active customers.

Additionally, 82% of the total customer base use credit cards, while this applies to 89% of 19-29-year-olds.

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