Belgium: appraisal of favorable moments to do savings 2023

Do you think that now is a good moment to save money? According to this study, from January 2018 to October 2023, Belgian consumers assessed negatively the favorability of making savings.

Indeed, the balance was at -28 in October 2023, meaning that the negative responses outnumbered positive responses by 28 percentage points. This represents a similar negative appraisal than those made in the previous months. In other words, a similar share of Belgian consumers believed it was the right time to make savings. The lowest appraisal on the savings favorability was -59 in September 2019. Furthermore, the least negative appraisals was found in May of 2021.

Appraisal of whether or not it is a favorable moment to make savings in Belgium, from January 2018 to October 2023

Characteristic	Appraisal of respondents
Oct '23	-28
Sep '23	-30
Aug '23	-29
Jul '23	-36
Jun '23	-38
May '23	-33
Apr '23	-32
Mar '23	-34
Feb '23	-32
Jan '23	-35
Dec '22	-45
Nov '22	-46
Oct '22	-48
Sep '22	-41
Aug '22	-36
Jul '22	-41
Jun '22	-40
May '22	-43
Apr '22	-42
Mar '22	-45
Feb '22	-44
Jan '22	-40
Dec '21	-40
Nov '21	-41
Oct '21	-39
Sep '21	-33
Aug '21	-38
Jul '21	-25
Jun '21	-21
May '21	-19
Apr '21	-21
Mar '21	-30
Feb '21	-30
Jan '21	-28
Dec '20	-33
Nov '20	-30
Oct '20	-34
Sep '20	-34
Aug '20	-34
Jul '20	-28
Jun '20	-36
May '20	-40
Apr '20	-38
Mar '20	-44
Feb '20	-46
Jan '20	-48
Dec '19	-53
Nov '19	-51
Oct '19	-49
Sep '19	-59
Aug '19	-58
Jul '19	-52
Jun '19	-47
May '19	-46
Apr '19	-47
Mar '19	-47
Feb '19	-52
Jan '19	-50
Dec '18	-48
Nov '18	-44
Oct '18	-46
Sep '18	-47
Aug '18	-47
Jul '18	-45
Jun '18	-42
May '18	-42
Apr '18	-45
Mar '18	-46
Feb '18	-47
Jan '18	-46

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Release date

October 2023

More information

Region

Belgium

Survey time period

January 2018 to October 2023

Number of respondents

1,850 respondents

Method of interview

Telephone interview

Supplementary notes

Every month a completely different representative sample of 1,850 people is questioned about the macroeconomic situation in Belgium and their own financial position and consumer behavior. The sample is representative for the geographic, social and demographic differences in Belgium and they are asked to answer a qualitative questionnaire with their own assessment or expectation. The questionnaire is built around different topics; the Belgian economic situation, personal financial situation and personal attitude towards savings and consumer behavior.
Macroeconomic questions on unemployment and the Belgian economy, and personal questions about the financial position of the household and the savings of the household are used to calculate the consumer confidence indicator. The source explains: "For each question, calculations are performed to find the percentage of all participating consumers reporting an improvement (positive responses), the percentage reporting a deterioration (negative responses) and the percentage stating that there has been no change. In calculating these three percentages, responses are unweighted and the difference between the 'positive' and 'negative' percentages constitutes the balance (the response) for the question. For example, if the number of positive responses equals the number of negative responses the balance for the question is zero; conversely, a balance of +10 means that positive responses outnumbered negative responses by 10 percentage points."

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