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Report claiming Latvia lacks savings'culture flawed

Nov 04, 2009
By Arta Ankrava

MONEY MANAGEMENT: Latvians need to end their shopping habit and start putting money in the bank.
RIGA - Research conducted by GFK Custom Research and commanded by GE Money Bank reveal that 44 percent of Latvians are unable 'to give up spending in favor of their financial stability,' a press release on the bank's Web site reads. This inability to save is attributed to an inability to give something up 's 22 percent of respondents mentioned a lack of self-discipline in this regard and 17 percent admitted a lack of self-determination. Moreover, residents of Latgale, the eastern region of L ...

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