Only one third of Lithuanians have a financial cushion for a black day

Asociatyvi nuotr.

Compared to people living in other Baltic countries, Lithuanians are the least likely to take financial saving seriously. According to a survey carried out on the initiative of SEB Bank, a third (26%) of Lithuanians build up a financial cushion, while 58% of young Estonians and 48% of Latvians in Latvia and Estonia ranked it as a priority.

Although Latvians and Estonians are more concerned about having a financial cushion than Lithuanians, they are also in no hurry to save for retirement. According to the survey, only 7% of Lithuanians identify saving for retirement as one of their top financial goals. The highest percentage (11%) is among people aged 40–49 residents, the lowest among the young (2%). In Estonia, 11% of the population consider saving for retirement a financial priority, and in Latvia, 13%


„The survey reveals that Lithuanians are not very determined to save – our neighbours take the issue of financial reserves much more seriously. In all countries, people still tend to postpone saving for retirement, which is becoming a major concern for people in their forties or even older," commented Eglė Dovbyšienė, Member of the Management Board and Head of Retail Banking at SEB Bank, on the study.

The importance of investing is still widely understood in all Baltic countries. Investments are one of the most important financial goals for 12% of Lithuanians. The highest share is among people aged 40–49 (18%). In Estonia, 13% of the population is generally most concerned about investments, with the highest percentage among 18–39 year olds. In Latvia, 9% of the population consider investments to be their financial priority, with young people aged under 29 being the most concerned.

The survey on the financial priorities of the Baltic population was conducted in March this year by the research company „Norstat“. The survey covered 1,000 respondents each. The survey was carried out in Lithuania, Latvia and Estonia.