Money wallet. Photo: Dreamstime.com
According to an analysis by Investopedia quoted by Money Digest, an ordinary American spends $ 3.45 million throughout his life to fulfill his American dream. The site estimated the costs of some person's life, such as marriage, birth of children and buying a house, as well as paying medical assistance and university studies and saving for pension. A person in the UK spends, on average, an amount of 1.5 million pounds throughout life. How things are in Romania.
In us, the NIS calculated the average annual expenses of a family, which are around 33,600 lei annually, according to the statements given during the investigation of family budgets (ABF). The numbers differ depending on the profession (salary), regions and the number of children. Pensioners, for example, spend just over 26,000 lei annually.
As the active life in Romania is 32.7 years, after which about 14 years of pension follows, Hotnews has calculated what are the average expenses from entering the first job until the end of life. We have taken into account an average annual inflation of 3% as well as the relationship between salary growth and increasing expenses over the last 20 years.
In the last decade, the net wealth of Romanians has grown spectacularly. According to the latest data published by the NBR in the stability report, between 2014 and 2024, the stock of real estate assets held by the population has doubled, and the portfolio of financial assets has almost tripled. Statistically, it seems that the Romanians did not lack money. But beyond this optimistic image, a much more nuanced reality is hidden: the consumption has increased over the available income, and the saving is, in real terms.
A boom of wealth but on fragile bases
In an economy in which external shocks are increasingly frequent, the increased net wealth offers an important buffer, the authors of the report write. In practice, however, many Romanians live “on debt” or based on past economies. The saving rate is negative – a sign that the available revenues are consumed entirely and even outdated. Basically, people maintain their lifestyle by using either loans or reserves already accumulated.
Romanians continue to invest, predominantly in homes, which also explains the exceptional property holder – 94.3% of households have a home, the highest percentage of the European Union. This trend manifests itself even among those at risk of poverty, which suggests a strongly oriented culture, regardless of income.
