09.10.2026
A large proportion of the people in Estonia have had to significantly cut back on saving and investing due to the economic situation, according to a Norstat survey commissioned by LHV. Nevertheless, there are positive trends to be seen amongst young people.
The results of the survey show that the rapid rise in prices in recent years and the additional strain on wallets have forced 66 per cent of people in Estonia to cut back on saving and investing or give them up altogether. The situation has certainly improved slightly over the past year, as the corresponding figure at the same time last year was 69 per cent.
A more noticeable positive change has taken place amongst young people. Whilst in 2025, 75 per cent of 18–29-year-olds said that the economic situation had limited their ability to save and invest, this year that figure has fallen to 66 per cent. At the same time, the proportion of young people who have not given up on saving or investing has risen by almost half (to 20 per cent).
According to Vahur Vallistu, Chairman of the Management Board of LHV Asset Management, the survey results show that the turbulent economic environment continues to have a strong influence on people’s financial decisions, while trends amongst young people give cause for cautious optimism.
‘If two-thirds of Estonians have had to cut back on their savings or investments, it is clear that the rapid rise in prices in recent years has taken a heavy toll on people’s wallets. Nevertheless, it is worth continuing to invest, even with small amounts, as consistency is key to growing your wealth. Even small but regular contributions can yield significant results over the long term’, said Vallistu.
The survey suggests that young people are becoming increasingly aware of the need to take an active role in shaping their own financial future. Learning about and sharing financial literacy continues to grow in popularity amongst young people, and saving and investing are becoming an increasingly common part of their financial behaviour. The survey also showed that the proportion of 18–29-year-olds who have completely given up on investing has fallen significantly over the past year.
Vallistu emphasised that, like the economy, financial markets move in cycles. It is therefore not worth being put off by the temporary setbacks that are part of the investment journey, and it is important to maintain a long-term perspective. ‘Naturally, it is a top priority to ensure you can make ends meet on a day-to-day basis, but where possible, it is sensible to set aside a contingency fund for the unexpected and to maintain the habit of regularly growing your savings. Spreading investments over time mitigates the impact of market fluctuations’, he said.
Automated solutions offer a great way to support saving and investing. For example, contributions to the second pillar operate on the principle of ‘invisible investing’, and one way to build up your financial buffer more effectively over the long term is to increase your personal contribution to between four and six per cent of your gross salary. ‘All age groups are making increasingly active use of this opportunity, as evidenced by the fact that there are already nearly 124,000 people who have increased their contributions to the second pillar’, said Vallistu.
The survey was carried out in September this year by the research firm Norstat. A total of 1,000 people aged 18–74 were surveyed across Estonia.
LHV Pension Funds are managed by AS LHV Varahaldus. Read the prospectuses and key information documents of LHV Pension Funds at lhv.ee/en/second-pillar. The rate of return of the fund in the previous periods does not constitute a promise or a point of reference for the fund’s rate of return in future periods. The preservation of the value of the sum invested into the fund is not guaranteed.
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