Lithuania: September identified as most difficult month for household finances

September is identified as the most financially challenging month for Lithuanian households. Data from Bigbank indicates a significant shift in consumer behavior, with the average amount of new savings decreasing by nearly one-third and an increase in borrowing as residents prepare for autumn expenses.

Household budgets are heavily pressured by essential costs. According to Eurostat, Lithuanian households allocate 18.6% of consumption expenditure to food and non-alcoholic beverages, significantly higher than the EU average of 13.2%. Additionally, transport accounts for 15.2% of spending, the second-highest rate in the EU after Slovenia. Combined, food and transport consume nearly 34% of total consumption expenditure in Lithuania, compared to an EU average of approximately 26%.

Seasonal costs such as school supplies, educational activities, and student relocation further strain finances. A Norstat survey suggests that nearly three-quarters of parents plan to spend more than 100 euros on school supplies for a single child, with some expecting higher costs than the previous year.