Almost 70 percent of Croatian citizens regularly save, averaging 443 kuna per month, according to research results on saving habits in Croatia conducted by the IMAS agency for Erste Group.
The highest savings are among citizens aged between 30 and 49 years, averaging 467 kuna per month. Citizens aged between 15 and 29 save an average of 459 kuna monthly, while those over 50 save 415 kuna. The remaining 30 percent of citizens who do not save cite the inability to set aside financial resources for this purpose as the main reason.
As the primary motivation for saving, Croatian citizens cite the need to create an adequate financial backup in case of unexpected situations. Following this are the creation of reserves for ‘old age’ and the need for smaller or larger purchases, or renovations. Some citizens are motivated to save so they can ‘afford something later,’ and after that, the desire for travel stands out as a motivation for saving. A smaller portion of respondents simply stated that they save ‘for no particular reason.’
Seventy-five percent of citizens consider saving important, regardless of their age, while only 6 percent do not see its importance at all. The majority of people opt for traditional savings, followed by life insurance, housing savings banks, and voluntary pension savings. A smaller number choose to invest in securities and investment funds. Generally, one-fifth of respondents covered by the research have a more cautious attitude towards investing in such forms of assets, citing increased risk, uncertainty, and previous experiences as the main reasons.
When asked how much money they will save in the next five years compared to their current situation, 20 percent of respondents said they would save more, 46 percent said about the same, while 34 percent stated they would save less during that period. The latter group bases their reasoning primarily on the difficult economic situation, the fact that ‘everything is becoming more expensive,’ as well as lower incomes.
When comparing countries in Central and Eastern Europe, specifically the amounts that savers in those countries set aside monthly for these needs, Germany and Austria lead the way. Germans save an average of 199 euros, while Austrians save 170. Following them are Poles with an average savings amount of 99 euros, Slovaks with 88 euros, and Czechs with 83 euros. Ahead of Croatian citizens are Turks, with an average of 71 euros in monthly savings. Behind Croats, who save an average of about 59 euros per month, are Hungarians (49 euros), Ukrainians (46 euros), Serbs (43 euros), Montenegrins (42 euros), and Romanians (39 euros).
