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Less than one-fifth of Hungarians have financial savings - extended

  Just 19% of Hungarians said they had financial savings in November, a thirteen-year low, a survey by market researcher GfK Hungária shows.

 

The percentage of Hungarians with financial savings dropped to 23% in September and to 20% in October, GfK client relations director János Bacher said at a press conference presenting the survey results. In 2007, almost 38% of Hungarians said they had savings.

About 68% of Hungarians with financial savings said they were keeping them for unexpected expenditures, up from 58% in the first half of the year. 39% said their savings were for retirement, up from 31% in the first half.

The percentage saving to buy a car slipped to 6% from 10% and the percentage saving to buy a home dropped to 14% from 20%. The percentage saving for home renovations rose to 25% from 21%. (MTI-Eco)