On March 15, World Consumer Day, the Polish competition authority emphasized the importance of sustainable consumption and introduced a new tool to help consumers plan their savings for various goals. The tool, a savings calculator, aims to encourage responsible financial habits and help individuals manage their finances more effectively.

The President of the Polish competition authority, Tomasz Chróstny, highlighted that responsible consumption is a key pillar of sustainable development. He noted that while Polish citizens have a relatively high level of financial awareness, there is a gap between understanding the benefits of long-term saving and actually practicing it. Factors such as rising living costs and a lack of attractive long-term savings options contribute to this reluctance.

Chróstny urged the banking sector to offer better long-term savings programs to encourage consumers to save rather than rely on credit for immediate needs. To illustrate the financial benefits of saving, a simulation was presented comparing the costs of a vacation financed through a loan versus saving over time. The analysis showed that saving could lead to significant savings compared to borrowing.

The newly launched savings calculator is designed to help consumers build a habit of responsible consumption by allowing them to estimate the benefits of regular savings. It offers options for both long-term and short-term savings goals, making it easy for users to adjust their plans based on their needs.

In addition to the savings calculator, the Polish competition authority provides other financial tools, including calculators for early loan repayment and interest rate changes. These resources have been utilized over 7 million times by borrowers, demonstrating their popularity and usefulness in financial planning.