Portuguese more concerned with savings and “discomfort” to borrow

The “Trends 2020 Observatory” survey, conducted by the Ageas Portugal Group and Eurogoup Consulting Portugal, concluded that 39% of respondents felt an increase in savings needs due to the pandemic and that they prefer not to borrow in the coming months.

In view of the economic impacts of the Covid-19 pandemic, more than a third of the Portuguese point out that the need for savings has increased, despite considering that their income will not change in the next 18 months.

According to the results of the “Trends 2020 Observatory” survey, developed by the Ageas Portugal Group and Eurogoup Consulting Portugal, which identifies trends that emerged because of the pandemic, 39% of respondents revealed that the savings needs increased, particularly among households composed of four people or more.

“These results are in line with the data released by INE, which show that the savings rate of the Portuguese was, in the second half of 2020, the highest in seven years (10,6%), an increase explained by the strong reduction in the consumption and adherence to moratoriums, ”reads the statement that released the survey's findings.

The survey also found that more than 25% of respondents would rather save money in the coming months than spend it.

Although savings needs have increased, the survey also found that 59% of respondents are confident that the level of income will not change over the next 18 months.

Despite this, the Portuguese (62%) showed “discomfort” in taking out a loan or mortgage in the near future.

Held between 9 and 23 September, 2020 adults living in mainland Portugal participated in the “Observatório de Tendencies 1.744”.

The survey also identified that the Portuguese revealed increased health care, since 45% of respondents showed an increase in the need to protect personal health, especially among women, younger people and those with lower income.

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