Half of Romanians never manage to put money aside, study finds

Only two percent of Romanians find it easy to both save money and pay their ongoing expenses, according to a recent study commissioned by the Deposits Guarantee Fund. More than half of the respondents to the study said they didn’t expect to save some money in the next 12 months, only seven percent were sure they could save money during this period. As to the possibility to take on new loans, 83 percent of the people questioned say they won’t be able to take a loan in the next year. The average amount saved each month in Romania is of RON 328 (below EUR 100), which is around 16 percent of the household’s regular income. Only three percent of Romanians manage to put aside more than RON 1,000 each month. The survey was carried on by Metro Media Transilvania for the Deposits Guarantee Fund in October 2009, on 1,199 respondents.