Analytics, Budget, Financial Services, Lithuania, Society

Sarunas Nedzinskas, member of the DNB Board, presented a survey of young families carried out in October and described a typical young family in Lithuania. According to him, men in young families (26-39 years) earn more than women as a man's average salary stands at LTL 1,968 (EUR 570), while that of a woman – LTL 1,701 (EUR 493). Average household income amounts to LTL 3,669 (EUR 1,063). More than half of those polled said that their family's income is over LTL 3,500 (EUR 1,014).

Young families say that they spend the major share of their income on food, utilities and taxes, mortgages, transport, children's need, entertainment, and trips.

Four out of five families say that they are saving money, while the most common reasons for saving are house (every second family), new car (every third family), children's education (more than one quarter of respondents).

Although spouses plan their family's finance together, as many as 39 percent of married couples have separate savings accounts.