Hungarians' Ability to Save Deteriorating
Photo by Varga Jozsef Zoltan / Shutterstock.com
The ability to save in Hungary has deteriorated compared to 2022, such that only a tiny group of people can put aside this year, writes hrportal.hu.
Some 55% of the village households completely exhaust their income by the end of the month, and of those who do manage to save something, 45% of them keep this amount in cash.
In Budapest, 44% of residents can't put anything aside, and 26% of actual savers keep their money in their pillowcases, even when they are aware of inflation indicators.
Only 42% of Hungarians of working age have any financial reserves.
Still, even that is typically a few months' worth of savings at the most, according to Blochamps Capital's Premium and Affluent Customer Segment Research, which was conducted for the first time in Hungary.
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