The survey, commissioned by Erste bank, was conducted on a sample of 500 respondents.
Slightly over 20% of respondents said that they had saved up less money in the last two or three years, giving as reasons increased living costs (27%), unemployment or job loss (20%) and reduced household income (15%).
A comparison with countries in Central and Eastern Europe shows that the number of people there who have reduced their savings is larger than in Croatia. For example, almost every second respondent in Romania and every third in Slovakia, the Czech Republic, Hungary and Serbia saves less than two or three years ago.
Asked if they have changed their saving habits given the currently low interest rates on deposits, 30% of Croatian respondents replied in the negative, while 29% said that they give any extra money to their children and family; 24% said that they invest in real estate, and 15% keep their extra money in the current account or simply spend more.
Most of the Croatian respondents, namely 45%, said they have a classic savings account, while others cited a housing savings account and life insurance and voluntary pension insurance schemes as preferred forms of saving.
Compared with 2015, the proportion of people who save their money in cash, holding it at home or in a safe deposit box, has fallen from 17% to 12% and has been continuously declining in the past three years.
Similarly, the proportion of classic savings accounts is also high in other Central and Eastern European countries. For example, almost 80% of Austrians, 60% of Slovaks and 25% of Hungarians use this form of saving. Czechs (48%) mostly use state-subsidised pension insurance schemes, while Romanians (23%) and Serbs (9%) prefer life insurance.