As many as 85 percent of Croatians invest in savings, setting aside on average 469 kuna every month (€63), which is 41 kuna (€5.5) less than in 2018, showed a recent survey on saving in Croatia.

The survey, commissioned by the Erste Group and conducted by the IMAS pollster, shows that as many as 83% of those polled show that the main motive for saving is to have a financial backup for contingencies, and 18% save for their senior age.

More than two in five Croatians (43%) have a classic savings account, 16% have life insurances and nine percent (9%) a housing savings account. A mere 5% of those polled say they have opted for investment funds, shares and bonds as a saving model, four percent invest in real estate, and three percent use voluntary pension insurance schemes.

The survey shows that 15% of the respondents say they have managed to save more in the last two-three years than before, 62% say their saved amount is the same as before, while every fifth respondent (20%) says their saving in the past few years is smaller than before.

The younger the saver, the more money saved monthly

Broken down by age, the age cohort between 15 and 29 years puts aside the highest monthly amount, an average 587 kuna.

Broken down by gender, men put aside more, 551 kuna monthly, which is HRK 162 more than women’s average monthly savings.

Of citizens in Croatia’s neighbourhood, Austrians seem the most frugal, with their average monthly savings totalling €259.

Slovaks are second, with €111, and Czechs put aside 105 euros per month.

Expressed in euros, the average monthly savings in Croatia are €63, and Hungarians put aside €65.

In Romania, this monthly amount is €57 and in Serbia €40.

(€1 = HRK 7.449142)