More than a third of young people with reserves could live without income for a maximum of one month

By: Trademagazin Date: 2023. 06. 30. 11:23

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According to the results of the first quarter of the K&H youth index, a significant number of young people are in a financially fragile situation. 49 percent of the 19-29-year-old age group have savings, compared to the ratio typical of the previous quarters, which was closer to 60 percent. Moreover, 38 percent of young people with savings could go at most one month without income.

As a result of the increase in regular daily expenses, the proportion of young people with savings has decreased significantly, many of them only have enough reserves for one month, according to the first quarter results of the K&H youth index. The representative research conducted among 19-29-year-olds examined the savings habits of members of this age group.

In the first quarter of this year, 49 percent of young people, mostly in their twenties, had some amount of savings. This represents a significant decrease compared to the previous results of the survey: since the first quarter of 2021, their proportion was between 56-60 percent.

Apart from the decline seen in 2020 due to the coronavirus epidemic, the proportion of young people accumulating reserves was lower than this in the period between 2015-2018, when 41-48 percent of them were able to collect a smaller or larger amount.