Latvians save more than Lithuanians? The difference lies not in the amount, but in the habit

When it comes to saving, Latvians may seem more cautious at first glance: they more often prefer simple, "handy" savings. However, more recent survey data from the Baltic countries show a different picture - Lithuanians are more likely to be able to set aside a larger portion of their income each month. So the real question is not "who saves more", but who saves more disciplinedly and in what way.

Latvians prefer simple savings in cash more often

In Latvia, saving often seems very mundane: not complicated financial products, not investment schemes, but simply saving money. in 2025 The survey of the Baltic countries published by the Citadele group indicated that the most popular way of saving in Latvia was saving cash - 21% saved this way. population. Periodic transfer to a savings account was chosen by 16 percent, and setting savings goals by 13 percent. respondents.

It is here that the impression that Latvians "save more" appears. Their saving is seen more as a reflex of caution: money is put aside not so much for one big purchase, but for a sense of security. This is not aggressive hoarding, but more of a daily attempt to have a reserve.

However, saving method alone does not indicate who actually saves more. Putting cash away can be convenient, but it doesn't necessarily translate to greater savings or better financial discipline.

Lithuanians more often postpone a larger part of their income

Newer data is more favorable for Lithuanians. in 2025 The Norstat survey commissioned by Luminor showed that more than a fifth of the Lithuanian population - 23 percent. - puts aside more than a tenth of their income every month. In Latvia, 14% save this part of their income, in Estonia - 17%. population.

This is an important difference, because it does not speak about the declared desire to save, but about the real monthly result. If a person puts aside more than 10 percent every month income, it is no longer a random account balance, but a habit.

Therefore, the statement that Latvians save more than Lithuanians should be clarified. In some surveys, Latvians stand out in the form of saving - for example, saving cash. However, according to the proportion of the population that regularly saves a larger portion of their income, Lithuanians appear stronger.

The difference is not only in money, but also in the logic of saving

The most interesting thing is that the savings of Lithuanians and Latvians differ not only in percentages. The logic itself is different. In Latvia, a cautious, simple reserve is more visible. Targeted savings are more prominent in Lithuania: money is more often associated with a specific purchase, future plan or financial cushion.

This explains why two different conclusions can emerge in the public sphere. If we look at everyday prudence, Latvians can certainly seem more frugal. If we evaluate who puts aside a more significant part of their income every month, the advantage goes to Lithuanians.

Another important detail is that savings do not necessarily mean a sense of security. in 2025 The published study showed that Lithuanians have more savings than Latvians and Estonians, but only about a third of the population feels financially secure. This means that even higher savings don't necessarily eliminate worries about prices, income stability, or unexpected expenses.

The actual conclusion is not as convenient as the headline

"Latvians save more than Lithuanians" sounds like a clear and simple headline, but the reality is more complicated. Latvians seem to be more cautious in some cases, especially when it comes to simple savings. However, more recent surveys of the Baltic countries show that Lithuanians are more likely to be able to set aside a larger portion of their income each month.

Therefore, it would be more accurate to say: Latvians are more likely to choose a conservative way of saving, but Lithuanians currently seem stronger in terms of the share of income that is actually deferred. And this is a much more interesting conclusion than a simple comparison of neighbors.