According to Eurostat data, the household savings rate in Poland rose over the past two years to 9.8 percent in the first quarter of this year. However, it still remains one of the lowest among EU countries. By comparison, in Germany and the Czech Republic it stands at around 20 percent. Without savings, there is no foundation for investment, which affects not only the quality of life of Poles but also the country’s overall economic development. Experts emphasize that improving financial and economic literacy – including awareness of cybersecurity – is crucial.
The report “Investing Through the Eyes of Young Adults – Knowledge, Beliefs, Attitudes, Behaviors”, commissioned by TFI PZU SA and the Warsaw Stock Exchange Foundation, shows that 11 percent of respondents have no savings at all, while 12 percent have less than the equivalent of one month’s income. Around 33 percent said they had savings covering up to three months’ salary, while a similar proportion reported savings exceeding three monthly incomes – a level considered sufficient to maintain stability in case of short-term income loss or reduction.
“We are one of the countries with the lowest savings rates, and without saving there is no investment and no economic development. Building savings habits is one of the biggest developmental challenges, not only for individuals but also for the country as a whole. A nation’s wealth and capital are simply the sum of its citizens’ savings,” said Waldemar Zbytek, President of the Warsaw Institute of Banking and Chairman of the National Center for Economic Education, in an interview with Newseria.
The results of the 8th edition of the study “Financial Literacy of Poles 2025”, conducted for the Warsaw Institute of Banking Foundation and the Warsaw Stock Exchange Foundation, confirm the low level of economic knowledge. One-third (33 percent) of respondents rated their financial knowledge as low or very low, and 37 percent considered it average. The lowest self-assessments came from the youngest, oldest, and least-educated groups. Meanwhile, 38 percent believe that improving their economic knowledge would enhance their ability to save effectively, and 35 percent expect it would improve household budgeting. Almost half (46 percent) see their biggest knowledge gap in cybersecurity, and 41 percent said they need improvement in this area.
“Financial education must include cybersecurity. The development of the internet, digital payments, and online banking increases exposure to cyber risks. It’s vital that we pay special attention to this so we don’t lose the money we work hard to earn and save. A symbolic example is not just knowing but actually practicing the habit of regularly changing our passwords and PINs. Everyone should honestly ask themselves how often they really do this,” Zbytek said.
The National Center for Economic Education, established last year by Poland’s largest NGOs engaged in financial and economic education, was launched during the Senate’s designation of 2024 as the Year of Economic Education. Its main mission is to raise awareness among public and private institutions, individuals, schools, and local governments about the importance of financial education. Experts stress that teaching this knowledge from an early age is essential.
“After World War I it was recognized that rebuilding Europe’s economy required savings. Without them, it could not be achieved. That’s why 100 years ago the idea of School Savings Banks was created. The upcoming anniversary later this year, which we will highlight at the National Center for Economic Education, is a symbolic moment to remind everyone that saving is the foundation of Poland’s future development,” Zbytek emphasized.
One practical way to strengthen entrepreneurship in schools could be through student cooperatives. A Senate-backed amendment to the Education Law proposes rules for establishing and managing such organizations in schools. Their purpose is to develop qualities such as resourcefulness, responsibility, and solidarity. Students may run small businesses, provide services, engage in production, or organize educational activities. Student cooperatives in Poland have a tradition stretching back nearly 125 years.
“We are participating in the preparation of Poland’s first comprehensive financial education materials for primary schools. We are encouraging all stakeholders to create a full training package, which we are also designing for teachers. Primary schools have never had a dedicated finance or economics subject, so our goal is to help teachers talk about these issues more easily and confidently, and to expand the involvement of all institutions that should contribute to financial education,” Zbytek concluded.
