The challenges of 2024 and the uncertain outlook for this year continue to impact Romanians’ purchasing power and their ability to save. Rising prices and expenses exceeding available budgets in more and more households are driving an increasing need for loans, according to a national survey conducted by tbi bank.
Only 11.4% of respondents believe they managed to save enough in 2024 to meet their financial needs and expectations. Another 43% say they were only able to set aside very small amounts, 32% did not save at all, and nearly 14% had to dip into their savings, reducing the funds available for unexpected situations.
Meanwhile, nearly 28% stated that they took out a loan in 2024 or plan to do so in the near future, while another 24% already have ongoing loans. When it comes to the reasons why Romanians would take out a loan, nearly 28% say they don’t have enough savings to rely on when needed, while 20% state that their expenses exceed their available budget.
Among those who say they need financing, almost one-third are considering a loan for a major purchase, such as a car. Another 27% would take out a loan for unexpected expenses, 22% for health-related costs, and 20.7% to better manage their everyday expenses.
How much money Romanians will loan?
If they were to take out a loan in the near future, about a quarter of respondents are considering an amount exceeding 80,000 RON, 15% would opt for a loan between 10,000 and 25,000 RON, while 41% would take out a loan for amounts under 10,000 RON. Additionally, over 60% say they would choose a personal loan, while just over 14% would opt for a mortgage.
Regarding the monthly installment they could afford, 24.3% state they could manage payments of over 1,000 lei, while 22.3% could only afford a maximum of 300 lei per month. As for the repayment period, nearly 28% believe they could repay a loan within 3-5 years, while 25.6% estimate they would need more than five years to fully repay it.
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Articolul Only 1 in 10 people say they have saved enough money. The need for a loan increases a fost publicat prima dată în Money Buzz! • Știri Economice, Știri Financiare, Știri Business