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Aug 07, 2017

More than a third of young Hungarians have healthy savings

More than a third of Hungarians aged between 19 and 29 years have savings, with most young people setting money aside to buy a home

Most young Hungarians have some form of savings in the bank or are setting money aside to purchase their first home, according to reports today.
 
According to K&H bank's quarterly survey, more than a third of Hungarians
aged between 19 and 29 years have savings, with most young people setting money aside to buy a home.
 
The survey shows that 83 percent of young people have a bank card and 74 percent have a current account. What's more, fewer have a loan, life insurance or investments even though they are saving money.
 
Figures show that 37 percent of young Hungarians have savings, 21 percent of them set money aside at the beginning of each month and just 19 percent save money left at the end of each month.
 
According to K&H, the average amount of savings is 767,000 HUF (2,517 EUR). About
39 percent of those asked said they are saving to buy their first home, 38 percent aim to
accumulate some general reserves, one-fifth are saving to buy a car or to travel, and a smaller percentage want to save up for their education, retirement or a family event.