The number of regular Polish savers who have decided to put aside even more money has increased by 20%, as inflation has reached levels last seen in Poland the 1990s, a survey has found.
Prices of consumer goods and services increased by 17.2% YoY in January, according to the Central Statistical Office.
About 38% of Poles were regular savers, indicated an IBRiS survey for Santander Consumer Bank, published on February 28.
The current crisis has spurred 20% of them to save even more money, while 23% said the current situation had no bearing on their saving habits, and 57% were saving less.
“The only age group in which most respondents save money are Poles aged 50-59, who will retire soon,” said Magdalena Drazkowska of Santander Consumer Bank. “As many as 62% of them save regularly.”
In the youngest group, aged 18-29, only 19% are regular savers, she added.
People with university education are more likely to save money than those with basic education, with figures at 58% and 23%, respectively.
High earners are more likely to save than low earners. Among those with monthly net earnings exceeding PLN 7,000 (EUR 1,484) 82% are savers, while 54% of people earning PLN 5,000-6,999 (EUR 1,060-1,483) set aside some cash.
Understandably, 90% of people earning PLN 2,000 (EUR 424) or less a month fail to save anything.
Among those who have built a savings cushion, 28% have accumulated sums exceeding their five monthly earnings, while 11% have set aside an amount equal to their one month’s income.
IBRiS ran the survey on 1,000 adult Poles in January. (PAP/Business World Magazine)
