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Most to cover basic expenses spend by Rigans

BC, Riga, 03.04.2014.Print version
A Swedbank Baltic research study indicates that after spending their earnings on basic needs – food, rent and transportation fares, nuclear families in Riga have 53% left over to either save or spend on something else. The amount left over totals EUR 660, informs LETA.

Conducted by the Institute of Private Finances Swedbank comparison of household budgets in the Baltic capitals showed that most to cover basic expenses spend by Rigans.

 

A family of four living in a private apartment of 70 m2 in an apartment Soviet-era building for food, housing and transportation is spending 47% in Riga, 44% in Vilnius and in Tallinn only 29% of their total income, according to Adriana Kaulina, director of Institute of Private Finances Swedbank.

 

In monetary terms, a family of four with a typical consumption model in Riga spends on food, housing and public transport 587 EUR per month, EUR 518 in Vilnius and 519 EUR in Tallinn.

 

While family incomes in Tallinn in 2013 reached EUR 1,785 per month; that is almost 600 EUR more than in Vilnius and 538 EUR more than in Riga. Due to the difference in income from Tallinn family after meeting basic needs for other expenses is 71% of income, or 1266 EUR, while in Riga it makes 53% or 660 EUR and in Vilnius – 56% or 670 EUR.

 

By comparison, families in Tallinn – after spending for basic needs, have 71% of their earnings left over (EUR 1,266), but in Vilnius – 56% or EUR 670 of income.

 

The percentage of income spent by a family of four for a 70 square-meter Soviet-era apartment (central heating excluded), food and fares is 47% in Riga, 44% in Vilnius, 29% in Tallinn.

 

Monthly earnings for the family of four in 2013 (after taxes) were EUR 1,247 in Riga, EUR 1,785 in Tallinn and EUR 1,188 in Vilnius.






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