The likelihood of saving money in the next 12 months is declared as 'negligible' by 52.4 per cent of Poles and as 'none' by 25.6 per cent. - according to a survey carried out by the Conference of Financial Enterprises and the Institute of Economic Development of the Warsaw School of Economics.
The likelihood of saving is indicated as 'very likely' by 6 per cent of respondents and as 'very likely' by 16 per cent. The prevalence of those not planning to save is 37.8 percentage points, compared to 38.4 percentage points a quarter ago.
"According to households, the climate for saving improved once again at the beginning of Q3 2017. The balance of responses for this question increased by 7.5 percentage points compared to the Q2 2017 results and reached its highest result since 1997." - the commentary wrote.
At the same time, 42.5 per cent believe that now is a good time to save, while 57.5 per cent hold the opposite view. Prior to the quarter, the respective figures were 39.7 per cent and 60.2 per cent.
Young Poles are taking out more obligations
The situation is similar in Poland. According to the report "Credit Trends" by the Credit Information Bureau, in the first half of 2017 the number of people with liabilities to loan companies increased by 24 thousand. About 80 percent of them also have bank loans. This creates the risk of some borrowers falling into a spiral debts by taking on more liabilities in companies loan. The interest in such companies results from the fact that banks are withdrawing from low-amount consumer loans.
Sławomir Anisimowicz admits, however, that such simple solutions are often not possible. This happens when the borrower decides to take out a loan too late. problem solving or in the event of accidental events (illness, accident) that we have no influence on. Then excessive debt becomes difficult to eliminate.
19 October 2017:
" Young Poles have debts and no savings
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