The proportion of those who have less than 500 euros set aside has, however, decreased: from 23 percent in February to the current 19 percent. Three quarters of people stated that they would resort to financing options in exceptional cases, with purchase on account being the most popular.
Survey: One in Five in Austria Has Barely Any Emergency Savings
17-12-2024, 05:02
Financial crises can occur at any time. However, according to an internet survey by TeamBank, about one in five adults in Austria has little reserves.
According to the survey, five percent have no savings at all and seven percent do not know how much money they can fall back on in emergencies. 13 percent of Austrians would have immediate access to 500 to 1,000 euros, slightly higher savings, i.e. more than 1,000 euros, are owned by around 14 percent. The majority of respondents (25 percent) have set aside 5,000 euros or more.
Loans Only in Emergencies
75 percent of respondents stated that they have used various financing options before. The most popular was purchase on account (35 percent), followed by installment credit and account overdraft (both 27 percent). However, according to the survey, six out of ten people only resort to loans in emergencies. "The high price increases of recent years and the subdued economic conditions are unsettling many people," said CEO Christian Polenz in a statement. Therefore, Austrians are "still cautious about purchases".
A total of 1,525 people between the ages of 18 and 79 were surveyed online by the market research institute YouGov, on behalf of TeamBank, in July.
(APA/Red)
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