Romanians put savings on hold

Households with combined earnings of more than RON 2,500 (around EUR 590) are the most likely to save money, found researchers. However, the study did not find that inclination towards saving and ability to do so was age-related. Nor did the size of the family affect the chances of it putting aside some money, but it did influence how easy it was to make investments. Families who live in Bucharest are more likely to invest and put some money aside, but residing in the capital also renders making investments harder. The study also found that most Romanians prefer to keep their savings in the local currency, with almost 68 percent of those interviewed opting for the RON. The local currency was particularly popular with the elderly, people on low incomes, those with little education and families without children. Foreign currencies were the choice of people who could save easily and the university educated. The study was carried out to analyze saving and borrowing behavior and the use of banking and financial instruments. It was conducted on 1,604 households.
Anda Dragan