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Monday 16.07.2018 | Name days: Hermīne, Estere
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Seniors in Latvia save money more actively than others

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RULatvia’s residents have begun thinking about their financial stability more and more lately. Residents have begun making savings, diverting larger and larger amounts of money. The largest increase of savings is noted in Latgale, where residents’ savings have increased 16%. Residents of Vidzeme have already diverted two and a half times the amount of money to savings as they did last year.

According to data of Swedbank for Q1 of 2014, the most popular method of making savings is having a savings account – 84% of the bank’s customers use it. Compared to the same period of last year, the total number of savings accounts users has increased 11%; the number of dynamic accounts users has increased 36%. Term deposits are used by 16% of all savings accounts users.

Residents aged 60 to 75 have saved more money than representatives of other age groups per capita. Savings of an average Swedbank customer within this age group is nearly EUR 6,000. Seniors are also the ones making savings most actively – 25% of savings account users are aged 60 to 75.

Women care about savings the most in families (60% of women and 40% of men make savings). In terms of size of savings, men are ahead of women. Average savings made by men as usually 28% larger than those made by women.

Residents of Vidzeme have been diverting larger amounts of money to their dynamic deposit accounts than residents of other regions of Latvia this year. Kurzeme residents prefer term deposits. Residents of Zemgale, on the other hand, more than others divert money to the future of their children.

Residents of Riga have been mostly making financial safety reserves. Compared to the same period of 2013, in Q1 2014, residents of Riga had increased savings on their accounts by nearly 45%.

Ref: 102.109.109.5896


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