33/2017
2017-09-28
Polish Savings
Polish people are increasingly satisfied with the financial situation of their households. Since 1993 the percentage of respondents happy with their own standard of living has risen from 3% to 26%, with a simultaneous drop in the percentage of those who consider their lives to be too modest or downright poor, from 51% to 18%. The numbers of those who feel at risk of poverty are also dropping: over the past twenty years the percentage of people unworried about their future finances has grown from 11% to 30%, while those living in fear of poverty decreased from 49% to 29%. In line with this context are the changes to the structure of household budgets as regards savings and loans.
Currently half of all Polish people (49%) maintain that their households possess some savings, and practically the same number (51%) say they do not have such a safeguard. During the last three years the percentage of people to possess savings has risen from 40% by 9 percentage points, but over the last ten years this number has doubled (a rise from 23% to 49%).
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Survey results show that, as the financial situation of Polish people improves, so the habit of putting away savings to safeguard the future is becoming more common. Over a quarter of those who have savings (27%, a growth of 8 percentage points since 2014) declare that they could support themselves for at least six months on what they have saved.
More on this subject in the forthcoming CBOS report.
The above data comes from the ‘Current Events and Problems’ survey of August 2017.