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Three in 10 Belgians don’t save

11:11 27/03/2013

Belgians may have a reputation for being compulsive savers, but 28% of them claim to have no savings, L’Echo reports today. The figure is the result of a study conducted by ING using a sample of 14,013 people in 14 countries, including 1,000 Belgians. The debt crisis has severely affected the saving habits of Europeans, with 33% of respondents easing off their saving last year. The Belgian figures are in line with the European average of 34%. Bank customers in the Netherlands, Germany and Luxembourg are the most satisfied with their current savings, with Belgians in seventh place. In all European countries, the main reason given for saving is to cope with unexpected setbacks. Among Belgians, saving for a deposit comes second. More than half of Belgians (52%) say they reduce their entertainment expenses so they can save more. The survey also reveals that divorced couples find it harder to save: 44% of divorced respondents claim to have no savings.

Written by The Bulletin