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Friday 25.05.2018 | Name days: Junora, Anšlavs

29% of Latvian households do not have any savings at all

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RULatvian households still plan only short-term budgets for two months as a maximum.

Despite 52% of the respondents would like to make some savings, a growing proportion do not have any financial reserves at all (29%), according to Money Planning Center.

Since the autumn of 2010, there are more and more people who do not plan budget at all (from 23% last year to 28% this spring). Moreover, regardless the majority of Latvian households (68%) claim they plan their budgets, most of all it is only for 1.8 months.

While 43% of the respondents plan their household budgets for a month ahead.

Four and more member families plan their spending more carefully.

Riga residents tend to consider money resources for 1.89 months ahead. Whereas, other cities plan less time ahead (1.35 months), but households in rural areas – 2.12 months.

Compared to late 2010, the number of households without any savings at all has surged from 24% up to 29%. The time period households could live from their savings, in case income is lost, still amounts to mere 1.5 months.

Every second household expresses a wish to save up money, however, the data shows only a small proportion of Latvian households actually does it. More than a half (52%) point out they would rather save up free resources. While 29% of the respondents prefer spending their free financial means.


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  1. One says:

    Nothing to put aside if bills are so large.

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