Analytics, Estonia, Financial Services, Loan, Society

While before the economic crisis, the share of such families, who thought they could save, was even 77%, by 2012 it had fallen to 65%, writes LETA.

While immediately after the economic crisis, families with higher incomes perceived growth in saving ability, in the last two years, the saving ability evaluation of lower-income families has also improved.

With the increased saving ability, the number of families who have financial savings has increased. According to the survey, in September 2014, of 59% of Estonian households have financial savings.

While this share has increased by 6 percentage points in two years, it is still slightly lower than the pre-crisis figure, and is somewhat alarming that 41% of households still lack financial savings.

As of September, almost 245,000 families in Estonia, that makes 41% of households had credit commitments. This figure for the past four years has been relatively stable. Estonian usually take loans for the acquisition, construction or renovation of housing. The residents began to take more loans for the purchase of durable goods, which indicates increased credit capacity since the time of economic crisis, confidence and probably a wider range of offered goods by installments.