Two-Thirds of Bulgaria's Young Families Have No Savings – Study

Business | June 30, 2014, Monday // 14:58| Views: | Comments: 3
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Bulgaria: Two-Thirds of Bulgaria's Young Families Have No Savings – Study File photo.

Two-thirds of the young families in Bulgaria have no savings, according to a study of the marketing research agency NOEMA and AMI Communications Bulgaria.

Some 28 percent of the young couples keep their money in bank deposits, 7% - in real estate and only 4% use it to start a business, Bulgarian National Radio reports.

The majority of young Bulgarians up to 35 years (68%) spend all of their income and fail to save, the results of the study on the income, the expenses and the savings of the modern couples showed.

In big cities, people tend to save more than in small towns and villages, and families with children save less than those who have no kids. Moreover, most young people do not set aside money for the future. To some extent this is due to the economic situation, analysts say. About 40 percent of the households in small towns live on the income of only one of the partners, compared to just 10% for the capital city of Sofia.

According to the survey, some 47 percent of all the polled couples up to 35 years save all their income in one place.

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Tags: NOEMA, savings, income, bank deposits, real estate, business
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» To the forumComments (3)
Seedy - 2 Jul 2014 // 18:36:56

And what makes you think it's any different for us older geezers? :(

Fr Jack Hackett - 2 Jul 2014 // 14:39:23

Most young families throughout Europe have no savings either and just live from one payday loan to the next, so this is not an unusual pnenomenon

EDC - 1 Jul 2014 // 22:11:04

How can they except to save money ,when sometimes they do not get paid ON TIME each month ,they get paid when the owner of the company turns up to give them their pay and in between have to rely on family for help
even the agriculture industry as was published here earlier this year had not paid the work force .

It is time that any company owner reported for late payments to staff for work already done was penalised as the money with held has made interest in the company bank account for the company owner ,
ie the interest made paid the staff not the owner.

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