The Intrum Justitia surveyed 21 317 European citizens from 21 countries, including 1005 Hungarians to find out more about how people handle financial difficulties, what they save money for the most, and what they think about the financial security of their children, piacesprofit.hu writes.
The survey revealed that almost half of the Hungarian population has been in a situation where they could not meet the deadline for obligatory expenses and they could fulfil the payment only with some difficulty.
What do Hungarians do in times of financial difficulty?
In a difficult financial situation, almost half of women (47pc) turn to their family for help first, while men are more likely to go to their bank for a loan instead (33pc). The data also shows that Hungarian women trust their friends more in a difficult situation than men, who consider it a possible solution to ask a colleague or superior at work (11pc).
53pc of women would not buy durable consumer goods on credit. The majority of women (84pc) would give up plans for a holiday if they did not have money saved for this purpose and had to ask for a loan from a relative or the bank. At the same time, a quarter of women say they spend more on gifts, for instance, than they originally anticipated.
What do Hungarians save money for?
How much people put into savings and what they save money for also tells a lot about our financial conscientiousness. The study shows that the majority of people save money for unexpected expenses (70pc), but buying real estate is also a popular goal (25pc), so is self-care (25pc), travelling (24pc), and their children’s financial support in the future (22pc).
The study also revealed that in the case of an unexpected expense costing half their monthly salary, half of men think they could tackle the issue easily, whereas only 30pc of women say the same.
What about the future?
The famous Hungarian pessimism seems to falter when it comes to the future of our finances. The majority of survey takers think that they will be in a better financial situation in the future than what their parents are living in at the moment. Men contribute significantly to these numbers. At the same time, women are much more positive about the future financial situation of their children, both in Hungary and Europe. In Hungary, 52pc of women say their children will have it easier in the future, whereas only 40pc of men have the same optimistic view.