Only 8pct of high income employees in Romania consider saving a priority

Employees in Romania do not show interest in financial education, given that only 8% of the people with high incomes, over 10,000 RON/month, consider saving a priority, while four out of ten Romanians say they use up to 90% of their monthly income, is the conclusion of a study published on Wednesday by the APSAP Training Centre.According to the research, 60% of Romanian employees say they are moderately satisfied with the way they manage their expenses, and 42% say they choose to spend more often on needs than on wants when they have to choose.At the same time, four out of ten Romanians use up to 90% of their monthly income, while 17% use over 90% of it. When they don't have money, 74% of respondents say they skip some expenses, almost 22% use savings or a credit card, and 4% borrow money, the study notes.When it comes to investments, almost two-thirds (63%) of respondents say they have never invested in any financial instrument, such as stock market investments, mutual funds, cryptocurrencies or real estate.According to the same source, over 36% of those surveyed monitor their expenses weekly, while 13% do not monitor them at all. Also, over 71% of men said they track their expenses daily or weekly, compared to 57% of women.By type of expenditure, men spend the most on entertainment and clothing, while women pay more when it comes to education, health and pets. In addition, women are more likely to be attracted by promotions and offers (11% of them indicated this), compared to only 5.5% of men.When it comes to prioritizing expenses, this differs depending on age. Thus, for people over 60, health represents the main financial concern, highlighting a significant impact both emotionally and economically.The study's conclusions reveal that 83% of these people are forced to allocate considerable amounts for healthcare, including medical treatments, periodic check-ups and medical transportation.At the same time, over half (52%) of the young people between the ages of 18 and 25 prioritize spending on entertainment and recreational activities. In comparison, young people allocate significantly fewer financial resources to health, with only 38% of those between the ages of 18 and 25 declaring interest in this type of spending.Regarding the level of education, the data shows that 80% of the respondents from the rural areas with incomes under 2,000 RON have only completed high school, compared to 11% of those from urban areas who are in the same income category.The study on the management of financial resources by employees in Romania was conducted on a sample of 1,529 employees from urban and rural areas and reveals how Romanians manage their financial resources, people's habits related to saving, investments, personal debts and financial priorities, providing a detailed picture of their financial behavior.Established in 2014, the APSAP Training Centre is a non-governmental organization in Romania, specialized in providing professional training programs for the public and private sectors.