Half a million or more than two million – it turned out how much money the Hungarians would need

Due to the difficult economic situation caused by the coronavirus epidemic, savings are receiving increased attention. The differences in this area are huge, meaning that respondents see very differently how much financial buffer they would need for a safe, peaceful life.

Households’ financial assets rose to a historic high of over HUF 68,000 billion last year, an increase of 11% on the previous year. During the first quarter of 2021, the net amount of savings exceeded HUF 56,000,600 billion, ie people saved HUF 6,000 billion in one year.

In the second half of last year and the first quarter of 2021, the dominant trend in household wealth change was the motive of “forced savings,” as there were limited opportunities to maintain normal consumption levels, forcing household wealth to grow faster. Cash continues to grow unstoppably.

Speaking of which, on behalf of Napi.hu, Pulse Researcher A representative opinion poll conducted by the Ministry of Finance revealed that 10 percent of people consider a reserve of less than HUF 500,000 necessary. A quarter of the respondents said 0.5-1 million forints, the rest essentially spoke about 1-2 million and more than 2 million forints.

The detailed breakdown shows that the results were mixed between the sexes. A reserve below half a million forints was mentioned by a tenth of both women and men, but there were more spectacular differences in the larger amounts.

This is what you need to know about research

The Pulse Researcher surveyed 1000 people, the answers represent the opinion of the Hungarian adult population. This means that the data, according to gender, age, education and type of settlement, reflect the opinion of the adult population of 18 plus according to the data of the Hungarian population.

While 29 percent of women would pay 500 thousand forints – 1 million forints, only 20 percent of men would be satisfied with it. Men are in the majority at over two million.

It is also clear that young people want more buffer than older ones. 37% of 18-39 year olds (ie young adults) would like to “go out” to the future with more than HUF 2 million. And the elderly, that is, those over 60, are in the “lowest” category, less than half a million, although only 14 percent see this amount as sufficient.

There were also speech differences based on education. While 14 percent of those with no more than a basic education said that HUF 500,000 was an adequate reserve, only 1 percent of graduates had this opinion. 65 percent of the latter would like to be in the “savings range” of over 2 million based on the data.

The breakdown by place of residence shows that most people want a reserve of 1-2 million forints or more than 2 million. 72 percent of Budapest residents, 59 percent of those living in county seats, two-thirds of those living in smaller rural towns, and 61 percent of those living in villages indicated these amounts.

Source: Napi.hu by www.napi.hu.

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