Compared to spring data, the Hungarian population's ability to save has declined even further: nearly half of those surveyed are unable to set aside any of their monthly income, and one in ten respondents are living in debt, according to the July Barometer survey conducted by Ipsos Plc. on behalf of Provident Financial Ltd. among the population aged 18 and over. While more and more people are finding themselves in a financially vulnerable position, the level of financial literacy is also showing a downward trend, especially among socially vulnerable groups, according to the representative survey.
Only 8% of respondents said they were comfortable with their income and able to save at least one-third of their salary, according to Provident's Barometer survey examining the financial situation of the Hungarian population. While in April, 38% of respondents believed that with conscious money management they had a chance to save a minimum amount (up to 20% of their salary), this proportion fell to 33% in a few months.
At the same time, the number of households that usually run out of money by the end of the month has increased: instead of the previous 41%, 48% of respondents now struggle with the constant anxiety of not being able to save and living from paycheck to paycheck. The representative survey conducted by Ipsos Plc. also reveals that a significant proportion of the population over the age of 18 is struggling with debt: 11% of respondents said in July that they had to resort to borrowing to make ends meet.
In addition to the negative trend in savings capacity, financial awareness and knowledge remain a serious challenge in Hungary: the proportion of respondents who are completely uninformed about financial matters has increased from an average of 24% to 28%. Among those living in small towns and those with lower levels of education, the number of people who do not feel the need to be more conscious about their finances, even in today's changed economic situation, is approaching 40%. In the long term, this could further deepen social inequalities and increase the existential vulnerability of these groups. For those who do seek information on financial matters, personal networks remain the primary source of information: 35% of respondents turn to family members and friends for advice.












