With the arrival of spring and the news that as of April 1, 2011, Romania has officially escaped the clutches of recession, there is a tendency for Romanians to spend all their financial resources. Moreover, to return to the glory days, when they would take out loans for personal needs, without stopping.

Why Romanians Avoid Saving

A study of consumer behavior conducted in Europe shows the increased appetite of Romanians for shopping. After two years of tightening their belts, an overwhelming majority, 89%, are willing to “go big” in 2011. Banks are enjoying this trend and have launched an aggressive campaign to promote loans. It has become impossible to avoid advertisements for loans that will get rid of all your worries in the blink of an eye. All you have to do is stop by the bank and leave with a quiver full of money. Of course, you will have to pay it back, but what does it matter? The important thing is to have it, spend it, and then, God forbid!

While almost all of us (89% according to the study) intend to spend more, only 14% are cautious and are thinking about increasing their savings. It seems that the few, but wise, did not “swallow the doughnut” thrown by the Government on April 1st, and, turning the issue around, I do not believe that milk and honey will flow through Romania.

The Decline of Thrift

In the list of expenses for 2011, Romanians ranked travel, home appliances (for which they have already developed a real passion), and home renovations at the top. It seems that this summer, there will be a lot of commotion in the apartment blocks of Romania. The heat and the hot concrete will be complemented by the noise of construction sites in full swing in the apartments.