Distribution of responses related to how savings decisions are made?
| Answer | n = 257 | % |
|---|---|---|
| I learned how to save at home/school | 92 | 35.8 |
| I make saving decisions myself, based on my knowledge acquired from traditional media or the Internet | 86 | 33.5 |
| I save based on the advice of my parents or friends | 65 | 25.2 |
| I do not make any decisions because I do not save | 8 | 3.1 |
| I make decisions under the influence of advertisements for financial products | 5 | 2.0 |
| I use paid individual financial advice offered by experts | 1 | 0.4 |
Socio-economic characteristics of the population (values in % if not stated differently) (n = 257)
| Variables (categories) | Total | Male | Female |
|---|---|---|---|
| Age (years) | |||
| 14–22 | 73.5 | 52.3 | 84.6 |
| 23–30 | 26.5 | 47.7 | 15.4 |
| mean age | 21.6 | 22.8 | 20.9 |
| Education level | |||
| vocational or lower | 10.9 | 20.5 | 5.9 |
| secondary | 22.6 | 36.4 | 15.4 |
| secondary/currently in college | 57.6 | 33.0 | 70.4 |
| university | 8.9 | 10.2 | 8.3 |
| Field of study | |||
| economic/financial | 32.3 | 13.6 | 42.0 |
| technical/mathematical/natural sciences | 17.9 | 15.9 | 18.9 |
| humanistic – social | 12.1 | 11.4 | 12.4 |
| others | 11.3 | 13.6 | 10.1 |
| this question does not concern me | 26.5 | 45.5 | 16.6 |
| Household size | |||
| live alone | 7.4 | 10.2 | 5.9 |
| from 2 to 3 persons | 40.5 | 42.0 | 39.6 |
| from 4 to 5 persons | 41.6 | 38.6 | 43.2 |
| more than 5 people | 10.5 | 9.1 | 11.2 |
| Place of residence | |||
| village | 33.1 | 29.5 | 34.9 |
| city up to 10 thousand inhabitants | 18.7 | 19.3 | 18.3 |
| city from 10,000 to 50,000 inhabitants | 15.2 | 17.0 | 14.2 |
| city from 50,000 to 100,000 inhabitants | 5.1 | 5.7 | 4.7 |
| city from 100,000 to 500,000 inhabitants | 6.2 | 11.4 | 3.6 |
| city over 500,000 inhabitants | 21.8 | 17.0 | 24.3 |
Distribution of responses about saving habits related to the ongoing economic turmoil (%)
| Questions and answers | Value (n = 257) |
|---|---|
| Are you concerned about the deterioration of your financial situation shortly | |
| Yes | 48.6 |
| No | 51.4 |
| Has the current situation (pandemic/war/economic crisis) caused you to start saving more or more regularly? | |
| Yes | 32.7 |
| No | 63.0 |
| I do not save money | 4.3 |
| Has your attitude toward saving changed due to high inflation? | |
| Yes | 42.4 |
| No | 29.2 |
| Hard to say | 28.4 |
| Given the ongoing military conflict in Ukraine, do you consider it safe to save money in deposits or bank accounts? | |
| Yes | 24.1 |
| No | 24.5 |
| I have no opinion | 51.4 |
Distribution of responses related to saving habits (%)
| Questions and answers | value (n = 257) |
|---|---|
| Main sources of income | |
| salary | 58.0 |
| financial assistance from parents or other relatives | 26.5 |
| scholarship | 7.0 |
| social benefits | 2.3 |
| another source | 6.2 |
| Place of savings storage | |
| term deposit in the bank | 7.8 |
| cash in house | 28.8 |
| savings account | 26.5 |
| standard bank account | 30.0 |
| investments in the stock exchange | 2.3 |
| employee pension schemes (PPE)/employee capital plans (PPK) | 0.4 |
| another place | 4.3 |
| The main purpose of saving | |
| a specific purpose, such as building a house, buying an apartment | 46.3 |
| emergency | 30.0 |
| travels | 10.5 |
| passions | 12.1 |
| family/kids | 1.2 |
| Frequency of savings | |
| once a quarter | 0.8 |
| once a month | 36.6 |
| funds remaining at the end of the month from savings | 18.3 |
| once a week | 4.7 |
| every day | 1.9 |
| irregularly | 33.5 |
| at all | 4.3 |
Average results obtained by respondents regarding their tendency to particular types of risk
| Variable | Simulating risk | Instrumental risk | ||||
|---|---|---|---|---|---|---|
| total | male | female | total | male | female | |
| Mean | 10.97 | 12.14 | 10.37 | 11.73 | 11.56 | 11.82 |
| Median | 10.00 | 12.00 | 10.00 | 12.00 | 12.00 | 12.00 |
| Standard deviation | 4.01 | 4.21 | 3.77 | 2.32 | 2.50 | 2.22 |
| Skewness | 0.43 | 0.15 | 0.56 | −0.86 | −0.88 | −0.82 |
| Kurtosis | −0.48 | −0.67 | −0.24 | 0.54 | 0.34 | 0.63 |
Differences in risk propensity for socio-demographic variables
| Variable | Gender | Age | Educational level | Field of study | Household size | Place of residence | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Z | p | Z | P | H | p | H | p | H | p | H | p | |
| Stimulating risk | 3.35 | 0.001* | 1.28 | 0.203 | 18.53 | 0.000* | 24.20 | 0.000* | 1.42 | 0.702 | 13.93 | 0.016* |
| Instrumental risk | −0.56 | 0.576 | −0.20 | 0.841 | 3.24 | 0.355 | 2.64 | 0.620 | 0.641 | 0.887 | 6.69 | 0.245 |
Results of Mann-Whitney U Test
| Variable | Possession of savings | Importance of savings | ||
|---|---|---|---|---|
| Z | p | Z | P | |
| Stimulating risk | −2.4509 | 0.01425* | −2.4509 | 0.01425* |
| Instrumental risk | 2.8092 | 0.00497* | 1.9245 | 0.05429 |