More than one-third of Portuguese citizens save money every month, although women continue to save less than men, according to data from Klarna released on Tuesday in anticipation of World Savings Day at the end of the month.
“The data reveals a nation divided between those who have adopted saving as a regular habit and those who still struggle to set aside part of their income: 36.6% of respondents say they manage to save every month, while only 7.3% admit they never manage to save,” states a communiqué accessed by Notícias ao Minuto.
Furthermore, the study highlights the “gender disparity,” noting that “42.2% of men save every month compared to 31.6% of women, who also tend to save less frequently — 26.2% admit to saving only rarely, compared to 18.8% of men.”
How much is saved?
Klarna’s data shows that the “majority of Portuguese respondents save between €101 and €250 per month (31.1%), while only 4.1% manage to save above €1,000 monthly.”
“Women continue to stand out in the lower savings brackets — 10.7% save up to €50, and 19.6% save between €51 and €100 — while men dominate the brackets above €100, possibly reflecting income differences between the genders,” the communiqué reads.
Karoline Bliemmeger, a finance specialist at Klarna, states in the same note that “with this study, we wanted to better understand how the Portuguese think about and practice saving.”
“It is evident that there is a growing concern for financial future and openness to new digital solutions. At Klarna, we want to be part of this evolution, helping people manage their money better and achieve greater financial stability, in a practical and transparent way,” she emphasizes.
Having an emergency fund is the primary reason for saving, but…
The study reveals that the main motivation for saving “continues to be the creation of an emergency fund (44.9%), followed by greater security during retirement (18.4%) and housing acquisition or real estate investment (15.5%).”
“Generational differences are striking: while 29% of young people aged 18 to 24 primarily save for travel and leisure, 29% of those surveyed aged 55 to 65 save for a more secure retirement,” the study states.
Additionally, “women tend to prioritize immediate or family goals — such as education or financial security — while men show a greater focus on investment and long-term planning.”
The survey also highlights “a coexistence of traditional and digital methods”: “although 43.1% of Portuguese people report saving through savings accounts or fixed deposits, 16% still say they keep money at home or in safes — a practice especially popular among younger individuals (24% of those aged 18-24).”
“In contrast, 17.4% of respondents choose to invest in funds, stocks, or bonds, with this option being almost three times more common among men (25.8%) than women (9.6%),” it notes.
