Over 60% Of Romanians Spend All Their Money From One Salary To The Next – Survey

The Romanian Academy's Institute for World Economics conducted a survey between May 1 and May 15, for the World Bank, and found Romanians' money management ability index is at an average 55.79% out of 100%.

Only 23% of the respondents keep tabs on their income and expenses, while 66% don't keep tabs but know how much money they have available and 70% plan their monthly current expenses.

Sixty-one percent of respondents said they never borrow money to pay off other debts.

Asked what solutions they find when they remain without money from one salary to the next, 75.3% of respondents said they cut expenses, 61.5% borrow money from friends and relatives and 42.2% said they buy consumer goods and pay for them later. Only 7.5% of respondents said they work overtime or get a second job.

On the other hand, asked how they use any extra money they have from one salary to the next, 74.6% said they keep it in cash, 33.6% spend it on consumer goods and 25.4% save it.

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