Despite the coronavirus epidemic, family savings increased in the past year. In 2019, two-thirds of Hungarians and three-quarters of Hungarians had cash or government securities set aside last year. According to analysts, all of this proves that the government's crisis management program to restart the economy is successful and that families are getting stronger, it was said in M1's Ma Reggel program.
"Hungarian households performed well during this period, because they postponed their deferred expenses and tried to put them aside and save," said Szabolcs Pásztor, the lead researcher of the Oeconomus Economic Research Foundation.
In the first quarter of 2021, the financial assets of households exceeded HUF 68 thousand billion, which the expert characterized as historical growth. According to the latest data from the KSH, an average household in Hungary has HUF 16.5 million in financial assets.
He added: the government's various family support tools increase the wealth of households, they provided significant help and thus left more money in family coffers.
Who misplaces how much and with what regularity depends on a lot of things. It is influenced by age, education and financial awareness, as there are those who set aside on a monthly basis, and there are those who try to save on a case-by-case basis.
The most popular forms of savings: current account deposit, cash, government securities
"The MNB pointed out that at the end of 2020, out of 100 new sources, 16 units were saved in cash, 27 units were saved from current account deposits, and 36 units were saved in government securities. The Hungarian population saves in these instruments," said the expert .
According to the latest data, savings in cash decreased in the first quarter of 2021.
He pointed out: "It is a refreshing trend, and absolutely points to an increase in financial awareness, that one third of the new funds that are generated no longer flow into these three classic forms of savings, but into new forms, such as life insurance."
author: hirado.hu
