In 2024, only 57% of Poles declared they had savings, a significant drop from 72% the previous year. Furthermore, only half of those who save attempt to grow their funds through investments. Is saving becoming unaffordable for Poles? Tavex’s 2025 report explores why so many people are giving up on saving and what it means for the future of personal finances in Poland.
Who Is Saving and Who Isn’t?
According to a survey by Opinia24 for Tavex, just 57% of Poles managed to save any money in 2024, compared to 72% in 2023.
Young people (18-24 years old), who previously led in savings, saw a dramatic decline. The percentage of young savers dropped by over 25 percentage points to 72% in 2024. While they remain the group saving the most compared to others, this decline highlights how economic challenges have hit young people particularly hard.
Other age groups also experienced declines in the percentage of savers, though less severe:
- 25-34 years: Dropped from 82% in 2023 to 68% in 2024.
- 35-44 years: Declined to 63%.
- 45-54 years: Dropped to 61%.
- 55-64 years: Fell from 55% to 44%.
- 65+ years: Declined from 54% to 47%.
Why Aren’t Poles Saving?
The main reasons for not saving remained consistent with 2023, but their intensity shifted.
- Low income was cited by 30% of respondents, the same as in 2023.
- Inflation, which was the top reason in 2023 (39%), dropped to second place at 28%.
- High expenses ranked third at 12%, followed by:
- Lower income (9%)
- Spending savings on pre-defined goals (9%)
The Tavex report reveals growing financial inequalities and limited household capacity to build financial stability. There was also a notable rise in people who claimed they don’t see a need to save, increasing from 1% to 4%.
“This may reflect both pessimism about improving financial conditions and a lack of financial literacy,” said Aleksander Pawlak, CEO of Tavex. “A lack of savings at the societal level could lead to increased reliance on consumer credit and limited private investment. Systemic action is needed to enable more people to save. Financial stability is not just an individual matter but a cornerstone of economic resilience during tough times.”
How Do Poles Invest Their Savings?
In 2024, 42% of savers chose to invest their funds, meaning nearly half opted to grow their savings through various assets. However, 58% preferred not to invest their money.
“The current market and geopolitical landscape make investment decisions more challenging,” said Tomasz Gessner, Chief Analyst at Tavex. “While the U.S. stock market has enjoyed a 15-year bull run, it has become expensive relative to other global markets. However, the ripple effects of potential U.S. economic challenges could impact global markets, adding uncertainty for investors.”
Poles favored safe investment options in 2024, including:
- Bank deposits: 40%
- Mutual funds: 18%
- Government bonds: 15%
- Gold: 13%
- Real estate: 13%
- Cryptocurrencies: 12%
“Despite the popularity of gold and real estate, the gap between perceived and actual investment choices is notable. For instance, while 33% of Poles consider real estate a worthwhile investment, only 13% actually invest in it. Similarly, 25% view gold as valuable, but just 13% allocate their savings to it,” said Aleksander Pawlak.
This disconnect underscores the need for long-term financial education to align perceptions with practical investment strategies.
Source: Manager Plus
