Finances of Poles: one in five of us has no savings

As many as three out of four Poles declare that they are currently saving, according to the public opinion poll "Finances of Poles" commissioned by Bank Millennium. Today, saving is not only a safeguard for the so-called rainy day, but also a way to make dreams come true and build stability in uncertain times. Unfortunately, however, as many as one in five Poles has not yet accumulated any savings, mainly due to too low income.

The public opinion poll "Finances of Poles", which was commissioned by Bank Millennium, provides the latest information on the financial situation of Poles, approach to saving and investing, housing situation, financial education.

The survey shows that the percentage of Poles satisfied with their financial situation has been growing for another year in a row. Currently, 34 per cent of respondents believe that they live well or very well - for comparison, in 2024 it was 29 per cent, and in 2023 - 26 per cent. Half of the respondents assess their financial situation as average - they have enough money on a daily basis, but they have to save for larger purchases (51 per cent in 2024, 52 per cent in 2023). On the other hand, fewer and fewer people describe their lives as modest or poor - in this year's survey, such answers were indicated by 16 per cent of respondents, while in previous years 19 per cent and 23 per cent, respectively.

Over the last six months, most Poles have experienced stagnant income - as many as 57% of respondents declare that their financial situation has not changed. Nearly one in three respondents noted an increase in income, while 13% of respondents noticed a decrease. Therefore, the data show that the improvement in self-assessment of the financial situation is not directly due to the increase in the income of Poles in the last six months. Poles are likely to feel the stabilization of prices and the effect of last year's increases.

In what manner does income translate into savings? Currently, 75 per cent of respondents declare that they save money. As many as 9 out of 10 Poles who save money do so once a quarter or more often, including almost two out of three Poles who save some amount every month. How much exactly? For years, the most frequently indicated range has been 5-10 per cent of monthly income. This year, 36 per cent of savers indicated this (2024 - 39 per cent, 2023 - 37 per cent).

Interestingly, the percentage of respondents who saved the equivalent of at least 4 of their salaries increased. Currently, this amount of accumulated savings is indicated by 60% of survey participants. For comparison, this is an increase of 6 percentage points compared to 2024 and as much as 11 percentage points compared to 2023.

In what form do we most often store our savings? An increasing number of Poles use savings products, such as accounts or deposits - currently 64 per cent of Poles declare that they invest money in these products (an increase of as much as 15 percentage points compared to 2024). Two out of five savers (42 per cent) choose cash. The third most popular place to store funds is a personal account, although the percentage of people saving in this way has fallen from 44 per cent in 2024 to 38 per cent in 2025. On the other hand, 15 per cent of savers choose pension products, such as Individual Retirement Account, Individual Pension Security Account or Employee Capital Plans, 8 per cent - State Treasury bonds and real estate, 6 per cent - shares, and only 1 per cent - gold.

The "Finances of Poles" survey shows that for many people saving is primarily a form of financial security and building a sense of stability in the face of uncertainty. The largest group of savers indicated that they save money for the so-called rainy day, i.e. with unforeseen life situations in mind. More than half (51 per cent) declare that they save for unexpected expenses. Holidays and travels (41 per cent of responses), renovation and furnishing of an apartment or house (26 per cent), or a car (17 per cent) were high among the savings motivations. Almost every fourth respondent (23 per cent) saves for retirement, and one in six (15 per cent) with a view to the future of their children. 13% save money to buy an apartment or house, 9% plan to buy electronic equipment with their savings, and 8% want to finance their development or education. 6% of survey participants use their savings to finance current expenses related to their children, and 5% intend to use the money they put aside for their own contribution to a mortgage loan.

"The survey shows that the lack of sufficient income to start your adventure with saving at all is less and less of a problem. This is a very positive sign, proving the growing level of wealth of Poles, and thus the possibility of saving or investing their financial surpluses. Unfortunately, we still do not know how to manage them wisely so that they work as effectively as possible to achieve our goals" - comments Łukasz Bugaj, senior financial analyst at the brokerage house of Bank Millennium. - "In this context, the low share of shares or the still insufficient percentage of long-term programs, such as IKE, IKZE or PPK, may be sad. Their share is smaller than the percentage of Poles who declare their willingness to achieve long-term goals, such as retirement or the future of their children. It is to be hoped that with the further development of the financial awareness of Poles, these proportions will begin to change in subsequent surveys.

The survey participants were also asked what circumstances make them save. 45% of respondents answered that they save when they have the opportunity, and 35% try to do it regularly. Almost every fourth respondent (23 per cent) saves money when they have a specific shopping goal, and 13 per cent invests surplus money. Unfortunately, as many as 18 per cent of the surveyed Poles admit that they have not accumulated any savings and are not saving now, and 7 per cent have some savings, but at the moment they do not save money. This means that as many as one in four Poles (25 per cent) does not accumulate savings at all. The survey shows that this situation most often applies to people over 55 years of age with primary or secondary education. Nearly half of the respondents (48 per cent), when asked about the reason for not saving, indicate too low earnings. The next most popular answers are temporarily higher expenses (16 per cent), lack of income (12 per cent) or inability and lack of motivation to save (11 per cent).

In the survey, almost every third respondent (30 per cent) did not notice a change in the amount of money saved in the last six months, and every fifth respondent (23 per cent) admitted that they have less money than six months ago. Why have the savings of a large group of Poles melted away? The four most common reasons they cite are: unforeseen expenses (47%), current expenses due to price increases (42%), spending savings for the purpose for which they were collected (27%) and increasing current expenses (17%).

It is worth noting that almost half of those with savings (47 per cent) have increased them in the last six months, which is 9 percentage points higher than in the previous year. This increase in financial security may be another reason for Poles to better assess their own financial situation.

The "Finances of Poles" survey was carried out on 6-12 June 2025 by Ogólnopolski Panel Badawczy Ariadna research agency for Bank Millennium on a representative sample of 1046 people using the CAWI method.

More information: https://www.bankmillennium.pl