Almost half of Poles estimate that in the event of losing their main source of income, their accumulated funds would last them at least six months – according to a study conducted by Kantar on behalf of the IPF Group, the owner of Provident Polska. This percentage increases among those who have some unused amount left in their account at the end of the month and among those who save regularly. There is also a noticeable correlation between saving and believing in the knowledge of financial products and services.
More than one in three respondents declare that at the end of each month, after deducting expenses, they still have a reasonable or large amount of money in their account. Men (41.5% compared to 32.6% of women) and people who save regularly give this answer more often. On the other hand, the youngest respondents most frequently state they have money left, while 45% of those surveyed have a small amount left, and almost 10% report that they have no funds left at the end of the month after considering their expenses.
Who has mastered the art of saving?
Over 60% of Poles save each month. About 40% do it regularly, but do not have a specific sum set aside for later, while one in four allocate a fixed amount for this purpose every month. A whopping 14% of respondents did not accumulate any additional funds during the last 12 months. Respondents aged 45 to 54 have the biggest problem in this area – almost every fifth person among them did not save any money within the year.
“The people who show the most consistency in saving are those aged 35-44, with 73.1% doing it every month. At this age, we usually have professional and economic stability that allows us to more freely build a financial cushion for the future,” emphasizes Patrycja Rogowska-Tomaszycka, Director of Corporate Affairs and a Board Member of Provident Polska. “Another group that stands out in terms of regular budgeting are men – 67.4% of them save regularly compared to 54% of women,” she adds.
The study also showed that people who end the month with spare funds in their account tend to save every month – about 88% of respondents with a large surplus in their budget do so, while 54.9% of respondents with a small surplus also declared they save.
“As the Financial Wellbeing study shows, our ability to save often goes hand in hand with knowledge about finance. Almost 70% of people convinced of their knowledge of financial products and services save every month. Among those who have doubts about their knowledge, this percentage is only around 53%. That’s a massive 17 percentage point difference,” emphasizes Patrycja Rogowska-Tomaszycka. “That’s why educational activities are so important, explaining not only the basics of economy and household budget management, but also how basic financial products work. Awareness of finances directly influences our decisions about money, and thus our financial well-being,” she adds.
We have funds enough for half a year
In case of losing their main source of income, accumulated funds would be enough for almost half of respondents (49%) for at least six months. This percentage increases among those who have a certain unused amount left at the end of the month and among those who save regularly. Men significantly more often have savings enough to last over a year – 30% of them gave this answer, compared to only 15.8% of women.
On the other hand, 8.6% of respondents do not have any financial backup.
Source: https://managerplus.pl/polacy-a-oszczedzanie-ponad-polowa-ma-zabezpieczenie-finansowe-na-pol-roku-kto-oszczedza-najwiecej-18347
