Balearic families are the biggest savers

Balearic families are some of the biggest cash savers in the country. According to the results of a study carried out by insurance company Unespa, an average of 56.5 per cent of families in Spain claim they are unable to save. However in the Balearics, 50.1 per cent of families says that they are able to put some money aside each month, slightly more that the national average of 42.7 per cent. The biggest savers are in La Rioja, where 53 per cent of families are able to save, families in the Balearic Islands are the second biggest savers, with Madrid in third place. While most of Spanish families save for financial security, in the Balearics, the biggest reason is to be able to cover “extraordinary costs,” such as holidays and cars.