2024-07-09 05:07:03
Generally, positive expectations encourage consumption.
However, the survey revealed that Lithuanians, fearing geopolitical risks, taught by the economic crisis and the economic stagnation that accompanied it, now tend to save more and reduce their unnecessary expenses.
Only 22 percent are willing to spend money normally. of the respondents and even 70 percent. tend to limit their expenses this year, and 8 percent people think they’re going to have to tighten their belts a lot.
It is likely that such sentiments of the population have already had an effect on consumption.
The survey revealed that the turnover of retail trade companies decreased slightly in the spring, the turnover of food and beverage companies fell the most, and it is this sector that first feels when people start cutting back on spending on leisure, recreation and entertainment.
If residents expect that their income will increase, but they do not want to spend more, then they plan to save more.
The survey showed that the third year of Russian aggression in Ukraine, the fear that this war may extend to Lithuania, and the huge inflation that has only recently eased make people more concerned about their financial cushion.
Even 81 percent survey participants indicated that they allocate part of their income to savings, and 19 percent those who do not save at all usually receive below average salaries or their earnings do not exceed the average.
Savers usually indicate that they set aside 5-10% for this. family budget.
This was claimed by 29 percent. survey participants, most of whom live in cities and have incomes above the national average.
Persons employed with the highest qualifications – 18 percent are assigned to this group. of the people who answered the researchers’ questions – said that they set aside 10-20 percent for savings. of the family budget, and another tenth – even more than 20 percent. of their income, but these people are also the main earners.
However, many persons receiving relatively small salaries claimed that they were saving, even though they could allocate less than 5% for savings. family budget.
This was the answer of almost a fifth of the survey participants.
Understandably, few people these days keep their savings at home, as they used to say, in a sock.
Traditionally, Lithuanians most value investments in real estate, which guarantees the security of family life, and in these troubled times, it has been noticed that the interest of people with high incomes in housing in Portugal, Spain, which is located further from Russia, or even in Greece and Cyprus, which are considered to be safer, has increased.
Remembering that in the approach of the Second World War, the geographer K. Pakštys even suggested creating a “reserve Lithuania”, for example, in Madagascar, which was sparsely populated at the time, it can be guessed that the longing for a safe home is coded in the genes of Lithuanians, and investments in real estate apparently have psychological therapies. effect.
According to another recent survey, as many as 74 percent Lithuanians would choose investments in real estate for saving.
In this respect, we are far ahead of the population of Latvia, 63% of whom tend to prefer the same choice.
It is true that Estonians, who are called extremely pragmatic, are even slightly ahead of Lithuanians – 78% would choose to invest in real estate. people of this country.
However, investing in stocks, bonds and other securities, which is popular in Western Europe, is even less attractive to Lithuanians than to Latvians or Estonians.
26 percent would choose such means of creating financial well-being. Lithuanians, Latvians – 28 percent, and Estonians – 32 percent.
It is somewhat surprising that Lithuanians have a particularly low trust in investment funds, even though investing in them passively does not require a great deal of financial literacy.
Maybe the memories that remain in the public’s memory are influenced by the explosion of all kinds of scam companies that promised huge interest but only took away people’s savings, as well as scandalous bank bankruptcies.
One way or another, only 15% tend to entrust their savings to investment funds. Lithuanians, Latvians – 28 percent, and Estonians – even 36 percent.
Among the residents of the Baltic States, Lithuanians are the least likely to accumulate funds for the future in third-tier pension funds or under an investment life insurance contract – only 19% are willing to do so. Lithuanians, 30 percent. Estonians and even 48 percent. Latvians.
At that time, most Lithuanians would choose gold and other precious metals for investments in the Baltic States – 23% answered that way. of the people of our country, not much less Estonians, and Latvians – only 16 percent.
On the contrary, Lithuanian residents trust investments in cryptocurrencies the least in the Baltic region.
By the way, surveys revealed differences between men’s and women’s investment choices.
For example, in Lithuania, 31 percent would agree to invest in shares. men, but only 21 percent. women.
Summarizing the surveys, it can be said that now Lithuanians are not afraid of the possible deterioration of their financial situation in the coming years, but caution forces them to prepare for worse times – to save more.
2024-07-09 05:07:03