Survey: Quarter of Estonian residents have no savings ({{commentsTotal}})

28 percent of Estonians could not cover their monthly expenses from savings in the event of lost income.
28 percent of Estonians could not cover their monthly expenses from savings in the event of lost income. Source: (Urmas Luik/Pärnu Postimees/Scanpix)

A total of 24 percent of Estonian residents do not have any savings, compared to 32 percent in Latvia and 20 percent in Lithuania, a recent survey by Nordea indicated.

Results of the survey showed that 28 percent of respondents in Estonia and Latvia would not be able to cover their regular monthly expenses if they lost their income, while in Lithuania the same indicator was 25 percent, said Edgars Žilde, communications project manager at the Latvian branch of Nordea Bank.

At the same time, 58 percent of Latvian residents, 64 percent of Estonian residents and 62 percent of Lithuanian residents expect their income to increase in the next five years.

Žilde also said that 90 percent of Latvian residents admitted that they had very little or almost no knowledge about investments. A total of 38 percent of Latvians trust unprofessional sources regarding financial affairs and investments, such as friends, opinions read on the internet or information published on social media, and 36 percent of respondents said that investments are risky and meant for professionals.

The survey was conducted by Omnicom Media Group, which interviewed 2,293 respondents aged 18-65 across all three Baltic countries.

Editor: Aili Vahtla

Source: BNS



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