Two-thirds of Romanians have no savings – and the rest don’t have much saved up
Over 66% of Romanians have no savings, according to a survey conducted by state-owned CEC Bank and the banking specialized website FinZoom. Roughly 77% of those who do have savings have under EUR 10,000.
The same survey uncovered that only around 10% of respondents have over EUR 20,000 in savings.
Over half of the participants do not manage to save any money in a month, while 22% manage to put aside under RON 300 (EUR 60). Only 6% of respondents manage to save over RON 1,000 (EUR 202) monthly.
Almost half of the respondents prefer to keep their savings in cash, a third use current accounts or bank deposits, 12% keep their money in euros or dollars, and just under 5% invest in stocks or investment funds. Meanwhile, almost 2% have invested in cryptocurrencies.
Around 55% of the respondents say they have no emergency funds for unexpected situations.
About 1,400 internet users from all over the country were sampled for this survey. Almost half of the participants (46.9%) said they earn less than RON 2,500 (EUR 500) per month.
radu@romania-insider.com
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