Young adults start to save up for their future
The 31% of net savers in Hungary are under 35, the young generation - between 27 and 35 - makes the 25% of all savings, daily newspaper Napi Gazdaság wrote on Wednesday, citing data from the analysis of CIB Bank.
According to the study, mainly those around 30 decided to set aside smaller or bigger amounts on a monthly basis. If this trend continues, that will significantly contribute to the increase of household savings, CIB experts believe.
Since 2008, people learned, how dangerous excessive debt can be, in contrary, to set aside a certain amount every month that could be later the basis of investing serves their security, the study said. To the expansion of domestic private savings, those products are necessary, that encourage the saving of even a small amount, CIB experts added.
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.