One in five Poles admit to having no savings at all, and one in four have accumulated modest sums of up to PLN 5,000. In contrast, 23 % of consumers have set aside more than PLN 20,000, according to the latest survey by the National Debt Register, ‘Savings Barometer 2023’.

However, this does not protect Poles from financial problems. Their arrears on loans, credits, hire purchase, rent, electricity and gas bills and telephone subscriptions total PLN 44.8 billion.

When it comes to financial security, significant differences can be seen in Polish society. Women, middle-aged (45-54 years old), and less educated people predominate in the group that has no money saved. In contrast, savings more than PLN 20,000 are most often declared by men with higher education from the largest cities. The ‘Savings Barometer 2023′ survey, conducted by IMAS International in November 2023 on behalf of the National Debt Register, also showed that there is a group of people (17 %) who have saved sums between PLN 5,000 and PLN 20,000. Thee are mainly men aged 25-34, with a secondary education.

“The current economic conditions, on the one hand, are not encouraging the accumulation of savings due to the high cost of living, and on the other hand, they are just encouraging people to save money”, said Adam Łącki, President of the Management Board of the National Debt Register of the Economic Information Bureau.

Adam Łącki claims that now the pessimistic scenario, which only a year or two ago seemed unrealistic, has materialised. Current expenses take up the lion’s share of income, consumers’ purchasing power has decreased significantly, so many people have been confronted with a harsh economic reality. They have had to cut back on previously unfettered consumption and mobilise themselves to manage their finances more consciously. “If they can rebuild their spending budget, they should do so and put aside even small sums that will provide them with financial security in the future”, convinces the president of the National Debt Register.

Adrian Andrzejewski