Bank99 presented alarming figures on Thursday: According to a new study, women put aside an average of only 166 euros per month, while men put aside 284 euros – a difference of 41 percent. The study also shows in which states people save the most.
Saving is very important in Austria. According to a representative survey of 1,000 people, conducted by marketmind on behalf of bank99, saving is fundamental for six out of ten Austrians. Most respondents put aside an average of 225 euros per month.
The most important factor for savings potential is income.
Men save the highest amounts with 284 euros. For women it is 41 percent less with 166 euros. Because not everyone who wants to save, can do so. The amount you put aside naturally depends largely on your income. Saving is considerably more difficult with a net household income of less than 2,000 euros (average monthly savings amount: 115 euros) and for non-working people because of pension (132 euros), maternity leave (85 euros) and unemployment (approximately 60 euros). ).
People who work full-time save an average of 304 euros
Employment (part-time: 201 euros versus full-time: 304 euros) and living situation also influence the saving behaviour of Austrians. People in couple households without children and people who still live with their parents save considerably more than parents or people in single-person households. Women with a net household income between 1,000 and 2,000 euros can only save 101 euros per month. Women who work in the household or women on (educational) maternity leave receive only around 60 euros.
“There is a ‘gender savings gap’”
Patricia Kasandziev, Board Member Market & Digitalisation at bank99: “Women are at a big disadvantage when it comes to saving, because different factors often come together: lower income, more part-time work, more often living alone, single parenthood, significantly less financial knowledge. As a result, they also use less profitable forms of saving and investing. There is a real ‘gender savings gap’. If you look at the savings amounts between the sexes, there is a difference of 41 percent. Even part-time work reduces the savings opportunities by a third – and that affects half of all women in Austria. The risk of poverty in old age is therefore significantly greater for them. As bank99, we want to do our utmost and provide targeted information with personal advice.”
Tyroleans save the most, Burgenlanders save the least
The study also reveals the differences between the federal states: people in Tyrol can save the most (282 euros), followed by Upper Austria (271 euros) and Vorarlberg (263 euros). Lower Austria (221 euros), Vienna (214 euros) are in the middle, Carinthia (201 euros), Styria (200 euros) and Salzburg (166 euros) are well below average. Burgenland comes in last place with a monthly savings amount of 137 euros. The level of education also plays a role: those with a secondary school diploma save an average of 319 euros, those without save 180 euros.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
