Money held in cash, in accounts or “to the mattress”, they lose value from month to month, while there are plenty of mechanisms for people to save their savings from inflation, perhaps with some return, according to analysts.
Money kept in cash, in accounts or “on the mattress” loses value from one month to the next. The Truth photo
“In an economic climate where inflation continues to erode purchasing power, the riskiest financial decision of the moment is not investment, but passivity. The economic data show clearly: money kept in cash, in accounts or “on the mattress”, lose value from one month to the next”says an analysis of xtb.
According to them, Romania is in a rare economic paradox: although inflation remains high, housing affordability is better than in 2019, and the ratio between income, interest and monthly installments favors active decisions, not waiting.
In an inflationary environment, uninvested savings are not neutral, but are constantly devalued. The purchasing power of money decreases, and postponing financial decisions means, in real terms, a loss of capital.
“The real estate market should not be viewed through the lens of fear, but of mathematical opportunity. In January 2026, we are at a unique point: we have almost double salaries compared to 2019, but access to lower interest rates than then. Keeping money 'on the mattress' in a context of high inflation is the surest way to lose capital. Money has to flow. Investing in a refinancing that lowers your rate and frees up monthly liquidity is the healthiest form of financial hygiene. Basically, you use the banking context to protect your work“, says analyst Claudiu Trandafir, CEO Ofertebancare.ro.
The 2019-2026 benchmarking shows that the average net salary has almost doubled from 2019, while currently available fixed interest rates are below levels considered “good” seven years ago. Even though prices per square meter have increased, the monthly effort to pay an installment relative to income is lower today, and access to credit is more efficient from a mathematical point of view.
According to statistical data, the average net salary increased by over 80% (from approximately 3,100 lei in January 2019 to over 5,700 lei currently), and on the interest side, in January 2019, a “good” fixed interest rate was 5.7% – 6%. Currently, banks are “fighting” in refinancing offers with fixed interest rates starting at 4.59%.
How you can protect your money from inflation
In 2026, inflation remains one of the biggest financial concerns for Romanian households. People are no longer only concerned with saving, but also with their long-term financial future. Money “at rest” loses its value from one month to the next, and the fear of rising inflation makes any plan impose a solution to keep pace with price increases, XTB analyst Radu Puiu declared, for his part.
According to him, the right question is not just how you get a return, but how you protect your purchasing power. The real return, the one that remains after inflation, makes the difference between a financial goal being reached and one being postponed.
A portfolio built for 2026 does not promise immunity to fluctuations. Gold can add stability, bonds can balance, and stocks can support long-term growth. Long-term success is given by diversification and consistency, not by the search for a perfect solution, Radu Puiu also points out.
Bank deposit versus frequent price increases
For many, the bank deposit remains the safety reflex. It has a clear role, provides predictability and is useful for the emergency fund. The limit occurs when interest fails to keep up with inflation and savings lose value over time.
Investments in the stock market are not a direct substitute for deposits, but a complementary tool with a longer horizon, built precisely to overcome inflation. That's why investments should be seen as a financial security tool, not as a promise of quick enrichment, Radu Puiu also points out.
An inflation-protected portfolio is not based on one direction. It has a balanced structure by diversifying between asset classes that react differently to interest rates, economic growth and volatility. The idea is not to depend on a single scenario, and if one component is affected by the context, another can compensate.
Gold, defensive component
Precious metals are traditionally a defensive component against inflation. Gold is frequently used as a hedge in periods of uncertainty or changes in the interest rate regime. If we talk about a balanced portfolio, gold is a stabilizing piece, Radu Puiu also points out.
Bonds, anchor of balance in the portfolio
Bonds are relevant for investors looking for stability. Instead of a single issuer, many investors choose diversified exposure through instruments that cover baskets of bonds. They can be government or corporate bonds, with shorter or longer maturities, and each category reacts differently to interest rate changes.
In 2026, bond maturity is important. Long-term ones are usually more sensitive to interest rate changes than short-term ones. Therefore, the mix of maturities can be adjusted according to the macroeconomic scenario so that the portfolio remains balanced.
Stocks, the source of long-term returns
Stocks remain the component that supports long-term growth, but selection and discipline matter. In times of cost pressures and inflation, attention turns to companies with solid margins and the ability to pass on some of the costs in price.
Some sectors tend to be more resilient in such contexts, such as utilities, healthcare or energy, while technology can remain attractive when supported by recurring revenue and structural demand. Companies that sell products that people need regardless of price (basic consumption) are another inflation-resistant category.
In addition, the so-called “Dividend Aristocrats”, i.e. firms that have been increasing their dividends for decades, usually have sound business models and can pass on the increased costs to customers.
In investing, it's not just the tools that matter, it's the behavior as well. Many investors lose not because they make the “wrong” choices, but because they react impulsively to headlines, short-term fluctuations, and comparison to other investors. A healthy perception means separating noise from relevant information, accepting volatility as part of the process and not turning every investment decision into a personal test, points out Radu Puiu.
According to him, a simple rule is to invest only the money you can afford, not the savings needed for daily living or immediate expenses. Equally important is defining your risk tolerance and staying consistent, including when the market moves in unpleasant short-term directions. Long-term investments are built through patience and periodic adjustments, not quick reactions.
And real estate is a solution
On the other hand, the analyst Claudiu Trandafir claims that, although the price per square meter has increased (the national average from approximately 1,250 euros to 1,950 euros), the financial effort to pay the installment compared to the average salary is lower in 2026.
“Both in 2019 and in 2026, the economic environment is marked by internal and external risks, but experience shows that periods of uncertainty can generate opportunities for those who act strategically. In 2019, domestic legislative instability, the transition from ROBOR to IRCC and political tensions were superimposed on an international context dominated by the US-China trade war, Brexit and the slowdown of the European economy. In 2026, the main threats are inflation, which erodes passive economies, and a tense external context, characterized by regional conflicts, geopolitical instability and the reconfiguration of energy markets, with a direct impact on economic costs and decisions.”the cited analysis shows.
For Romanians with loans contracted in recent years, refinancing becomes one of the most effective forms of “financial hygiene“. Moving a loan with a high variable interest rate to a lower fixed interest rate can generate monthly savings of 900-1,000 lei, money that would otherwise be lost through inflation.
“In inflationary times, financial decisions are no longer about courage or fear, but about correct calculations. In 2026, the banking context allows the optimization of costs through refinancing and the intelligent repositioning of loans. Those who analyze their data and act informed can protect their capitall even in a tense economic environment“, added Claudiu Trandafir.
