25% of Latvian residents have no savings for emergency situations. This is 5% more when compared with a year prior, according to results of Luminor Bank’s survey.
The survey was carried out in December 2022 together with Norstat. 1 008 Latvian residents aged 18 to 74 years were interviewed. At the same time, 26% of respondents said they have enough savings to last up to two months.
Survey data indicates that 18% of respondents have enough savings to last three to six months, which is 6% less when compared with a year prior. At the same time, 19% of respondents have enough savings to last them more than half a year. Data indicates there are more men than women in this group.
26% of respondents admit they would have in the age group older than 60 years said they have enough savings to last more than six months.
One-fifth said they have enough to last three to six months. At the same time, only 16% of residents in the age category 40 to 49 years said they have enough money to last three to six months. The situation with savings is the best for residents in Riga and Zemgale, and the poorest for residents of Vidzeme. One-third of respondents there said they have no savings to overcome financial difficulties, should such appear. 39% of respondents who have primary education only said the same.
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