Europeans are more aware of saving than a few years ago. Rarely, however, they set aside money in advance without planning their destiny. Most often they save for housing, current consumption and holidays. Only 4.3% of them accumulates capital for retirement. The specialists suggests, that saving for a specific purpose not only helps in the realization of the intended purchase and provide safety in case of unforeseen situations. It also teaches rational management of the household budget.
To feel safe
One of the main reasons why it is worth saving, is the stability of the household budget. Our finances are constantly exposed to the unexpected expenses that may be caused by job loss, illness or loss of property. In such situations, have financial security in the form of savings gives you a sense of security. Surpluses are needed especially during the economic crisis, when many people are concerned about the stability of employment. It shows that Europeans are increasingly set aside money without specifying their destination. The aim in itself is saving for a rainy day, and thus protection against unstable economic situation and problems in the labor market.
Your own apartment
The main objective of savings of Europeans are usually housing costs associated with buying a property or renovation. According to the report, up to 34.7% of the respondents deposited money with such a purpose. The accumulated capital can be used totally to buy a home or to finance their own contribution. It is worth saving up for this purpose, since the purchase of real estate for cash can be an attractive way to locate capital in the face of low interest rates on deposits. Deposition of own contribution will help us to get a loan on preferential terms.