About 40% of Ukrainians live paycheck to paycheck – survey

Most Ukrainians who have no savings are aged 60 and older, while the lowest number of such people is among thirty- and forty-year-old citizens.

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About 40% of Ukrainians live paycheck to paycheck as 43% of them said in November they had no savings at all, according to a Research&Branding Group survey.

Read alsoNational Bank forecasts levels of Ukrainians' salaries in coming two years

Another 9%-10% of respondents say they have savings for a period of less than a month to two months, 8% for three to four months, and 5% for up to six months, the RBC Ukraine media outlet reported on December 3, referring the survey.

According to sociologists, the number of Ukrainians who have no savings decreased by 4% in comparison with February 2017, while the number of those who have savings that are enough for less than a month fell by 3%.

Most Ukrainians who have no savings are aged 60 and older, while the lowest number of such people is among thirty- and forty-year-old citizens.

The largest share of Ukrainians who have no savings (as they report) are residents of regional centers, and the smallest share is among rural residents.

The poll was conducted on November 16-26, 2018, among 2,000 respondents through personal formalized (face-to-face) interviews. The maximum margin of error does not exceed +/-2.4%.

According to the Group's survey, 43% of Ukrainian citizens in November 2018 believed that it was safest to keep their savings in U.S. dollars. A mere 15% would choose the euro and 12% would go for the national currency, the hryvnia. Another 12% of Ukrainians do not trust any of the currencies, while 16% of citizens remain undecided.

The average nominal salary of a full-time employee at Ukrainian enterprises, institutions and organizations in October 2018 grew by 24.9% year-over-year, to UAH 9,218, or US$327.

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