18:27, 21 January 2024
In the TV24 program “Press Club” there is a discussion about the financial situation of the Latvian population and opportunities to save.
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“SEB” bank board member and risk director Kārlis Danevičs shares tips on how to save,
“There is academic wisdom, but in my opinion such street wisdom is even more valuable.
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Such street wisdom would be that you have savings or things that you can sell and you can live without income for 2-3 months.”
So if there are savings that cover expenses for 2-3 months, it is commendable. Looking at the data, Danēvičs explains, “75% of Latvian residents say that they have enough money for daily expenses and they could save something.”
The problem is that those 75% of people don’t see a reason to save, “Where am I going to save? So what am I really going to do? So what will Russia do? Do I even have faith in the long term? Maybe I’d better go on an extra trip.”
Kārlis Danevičs believes that the society should learn to accumulate finances for unforeseen cases. “My heart aches for both segments, both the 25% who say they can’t save and the 75% who can and could save, but somehow it’s not so successful.”
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Kārlis Danēvičs also mentions the example of Estonia, where every second citizen has his own company and his own investment. He shares his thoughts that it is possible that if people invested in the shares of state-owned companies, they would follow the news more about the current events in them. It would be a more direct association of the financial condition of public enterprises with one’s personal financial situation.
“However, this is what Latvia, even at that level of enlightenment, must understand, that the stock exchange is not a hidden privatization. It is not something evil. The stock exchange is the way we feel more belonging to the country of Latvia and how we can save by investing in our land, our port, our “Riga water” and so on.”
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2024-01-21 16:37:28
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