The ING International Survey on Savings asked over 14,000 people in 14 countries about their feelings towards savings, their financial goals and how they save. The results expose fascinating insights about people and their attitudes to money.
Dutch “most comfortable”
The Netherlands took top spot in the savings comfort league in 2013, a measure that ranks countries based on the proportion of the population who say they are “comfortable” or “very comfortable” with the amount they have saved. Germany, Luxembourg, Austria and Turkey round out the top five, while the bottom of the table is home to Slovakia, the Czech Republic and Italy.
Browse other ING International Survey findings in the slideshow above.
Time to save
Romanians are least likely to have savings with 48% reporting they don’t have any. By comparison, the European average is 30% and the low for not having savings is Luxembourg at 11%.2
The Dutch are the most comfortable with their savings, topping the comfort savings league in 2013 and moving up one place from 2012. The Turkish made the largest upward movement in the league table, up six places to fifth.3
If emergency strikes
Slovaks are the most likely to be able to pay for three months of regular spending if their income fell a lot – with 66% saying they could cope. This is much higher than the average European at 49%.4
How we save
In Italy, 55% say they are not adding to their savings at the moment, much higher than the 32% for the European consumer. And they are cutting back on spending more than the average in Europe. Notably, Italians are the most likely of all nationalities surveyed to be cutting back on clothing and grooming.5
Think of the children
The most common savings goal in Europe is an emergency fund, with children named as the second most common. Housing, regular bills and paying off debts are also high on the list.6
Take a break
Brits are the most likely to be saving for a vacation – with highest percentage of all 14 countries surveyed who say a holiday is their top savings goal.7
The Spanish are the most likely of all countries to say the economic situation as led to a deterioration in their finances in the last three months, with 64% saying this has happened. Employment pressure is also high as Spain is the only country surveyed where decreases in income were a bigger factor than rising prices in the deterioration in their financial position.
This article is related to the ING International Survey:
January 15, 2013
Pay packets are having to stretch even further for many people this year, according to the ING International Survey on savings for 2013. The survey asked 14,000 people in 14 countries in Europe about a wide range of...