Official: the retirement age in Hungary will increase in January
This is the 48th weekly (web) edition of the Milk, the Money Centre’s weekly newsletter. If you want to get in the picture without the daily noise, we’ve come up with this article for you.
THE GREAT HAPPINESS TEST OF THE MONEY CENTER HAS STARTED. CLICK HERE TO ANSWER 15 QUESTIONS TO KNOW HOW HAPPY HUNGARIANS ARE!
We also released three podcasts this week!
One is First Yard, the second broadcast in the Money Center podcast series. In the series, we present Hungarians who have made a lasting difference in business. In the second episode, our guests were Bálint Lévai and Balázs Lévai, the leaders of BiotechUSA, a company that manufactures and distributes food supplements.
The latest news, in chronological order HERE!
Our article on the subject can be read here, and the podcast is available on almost every podcast interface, including Spotify-t, the Apple Podcast, the Google Podcasts and the Soundcloudot van. If you click, we wish you good fun from here too, and if you liked it, follow the First Yard podcast channel so you don’t miss out on the new part I’m interested in in December either!
Rising inflation vs. interest rate hike – what can Hungarians now expect, what effect will the current economic situation have on their finances? The Money Center’s other podcast has just covered these topics. Our guests were László Sziráki, Head of Digital Channels and CRM at CIB Bank, and István Palkó, Head Analyst, Portfolio Finance Division. Click here for the broadcast!
A difficult period awaits Hungarian families, an epidemic, burnout, a festive period – this was also discussed in our podcast, in which Zsuzsa Tóth, HR Director of CIB Bank and Júlia Füredi, organizational psychologist and HR specialist, were our guests. The broadcast by clicking here can be listened to.
It goes in your pocket
If you need a loan, go to the bank now: as price increases are coming there as well. “The credit market is changing, the historical low of lending rates is in the fog of the past. Even on very favorable terms, it is possible to take out a home loan or a personal loan, but there are signs that a serious rise in prices can be expected in a very short time,” the Money Center called. analysts at Bankmonitor. Click here for details.
We have good news for modest families: their children will not go very poor. At least not for those who grew up in poverty anyway. Recent EU research has shown that in Hungary, 16.2 per cent of adults in poor economic conditions are at risk of poverty in adulthood, compared to only 10 per cent of adults in good conditions. The latter is the 9th lowest number in the entire EU, which means that anyone who grows up in a well-off household in Hungary has a very small chance, even at the EU level, of being at risk of poverty as an adult. Read our article by clicking here for details.
We used to know, but it can still hurt: On January 1, 2022, the retirement age in Hungary will increase. Since 2014, the retirement age in Hungary has been rising steadily year by year. Those who were born before 1 January 1952 were required to retire at the age of 62, those born in 1952 after the age of 62, and those born in 1953 at the age of 63. on the sun. year of life. This is how we got to the last stage: on the first of 2022, the age limit for those born in January 1957 or later will rise to 65 years. Click here if you are wondering what other conditions exist for retirement. The good news is that a further increase in the retirement age is not on the agenda yet.
I still had to: sweets are also becoming more expensive in Hungary. All the ingredients in the confectionery industry have become more expensive recently. The price of raw materials has risen: sugar, cocoa, oil and vegetable fats have become more expensive, and cereals, seeds and fruit have become more expensive. In addition, labor and transport became more expensive and packaging prices rose. “There are a lot of effects at the same time, consumers are experiencing rising prices,” Gábor Intődy, Secretary General of the Association of Hungarian Confectionery Manufacturers, told Pénzcentrum. Details here.
This is how Hungarians spent on prostitutes in 2020: on average, half a percent of their spending. There are relatively few countries in Europe that report how much money they donate to public prostitution, but according to recent Eurostat statistics, only Luxembourg is ahead of us: there is 1% of spending. In 200, by the way, this ratio has decreased in one place2, the data of the other countries in this article!
Here is the big artificial pine overview: More and more people are not putting a cut or globed Christmas tree in the living room during the holidays, but artificial pine. Opinions about the custom are, of course, divided, but this does not hold back a lot of Hungarians. We asked Tesco, Praktiker, and the eMag-Extreme Digital group which of the most popular models and how much they cost. Details here.
You can get real estate at a fraction of the price: more and more elderly people who are in a difficult situation advertise their property at a much lower price, with usufruct and an annuity. According to experts, such a transaction may benefit someone who would buy an apartment or house for investment purposes, but the outcome is not knowing when the buyer can actually take possession of the apartment. The annuity model is, by the way, much rarer than when a buyer who freely owns the property after the death of the elderly resident pays a fixed amount. Click here for details!
Here’s how to get cheaper over-the-counter drugs: if you label them. No kidding, we compared several drugs with both over-the-counter and prescription versions (usually differing in the amount of active ingredient). It turned out to be much better to go to the GP and prescribe that medication. We also present popular pills in this article.
This is what Hungarian money goes for: almost a fifth for food. According to a recent study, Hungary is also one of the countries where the family has received a much larger slice of food than the EU average. Within the European Union, there are huge differences: in Luxembourg and Ireland, for example, it remains below 10%, and in Romania it is higher at 26%. In Hungary, the exact ratio is 18.7 percent. Details in this article.
We missed the Welcome section of our newsletter for two weeks, so we now make up for the fact that we interviewed Peter Klekner from the Czech Republic, who is the managing director of Kifli.hu. The full interview can be read here, but we will also copy a section here:
Money center: How are daily order numbers at Kiflin?
Peter Klekner: It was very fluctuating during the pandemic, now we are around 4,000 orders a day.
Has the customer layer remained at Lake Balaton?
It is very obvious that the customer is traveling. During the period when our customers were at Lake Balaton, the number of orders increased, when they returned to Budapest, they decreased. The part of Lake Balaton that we have expanded will be retained and the courier service will be adjusted to the order numbers.
Hungarian buyers are extremely price-sensitive – Kifli, on the other hand, consciously shoots from a more expensive segment. Why? Is it the easiest way to build a secure consumer base with quality? Who are the primary customers of Kifli? How expandable is this customer base?
In the life of Kifli, quality, good food and a healthy lifestyle are given the greatest emphasis. Our entire portfolio is built to represent this. At the same time, we are seeing customers constantly moving in the direction that it doesn’t matter, for example, what kind of eggs they eat for breakfast, and we give them a good quality offer. But we also have much more affordable products. So our goal is to have not only premium products, but also a typical supermarket with everything that a person can buy on a daily basis.
So the full interview can be read here.
More good articles
That is why so many guest workers come to Hungary: From 1 September 2021, it will be easier for non-neighboring, non-EU workers to come to Hungary through temporary employment. The vice-president of the National Association of Hungarian Temporary Employees told the Money Center, who said that in the last 5 years there has been a significant increase in the number of companies producing and providing services in Hungary. If you are interested in the details, click here!
18 victims: firefighters have been alerted to carbon monoxide 858 times so far this year, 158 have been injured and 18 have been killed in carbon monoxide poisoning, he told the National Disaster Management Directorate to contact the Monetary Center. If we have taken all the precautions to keep our heaters in a technically sound condition, to ensure that they are replenished and to be aware of the dangers of operating the hood and heater at the same time, we can keep ourselves, our loved ones and pets safe. And if we want to do everything for ourselves, we also install a carbon monoxide sensor, because it can save lives. Details in this article.
Be careful of this, you will first insert a slice of protein: may be contaminated. More and more people are consuming protein preparations and other dietary supplements, but whatever we start taking, it’s worth consulting a professional. We have time: losing weight or gaining weight is more of a marathon than a sprint, and without a lifestyle change, there is no lasting result. We asked Péter Borszéki, a personal trainer, and Éva Kőrösi, the head of the Sports Dietetic Working Group of the National Association of Hungarian Dietitians. The latter said a fifth of the food supplement market could be contaminated with doping, and the expert also gave tips on how to avoid such a level. Weight loss, weight gain, details here.
He left a trail restriction: board games have become popular. The top board game this year, according to one of the big online stores, has become the True or Fake junior board game. In addition, they perform outstandingly in a function of talking board games such as Don’t Wake Up Daddy! or Undi Guszti. Of the board games, Monopoly goes great: Super Full Banking, Battle of Harry Potter Hogwarts and Jumanji. If you still have a loved one who doesn’t have a gift idea for you, it’s especially worth reading this article.
Despite the strict regulation: the drone will be a hit gift again this year. Alza reported annual growth of over 90 percent and eMag and Extreme Digital reported thousands of sales to the Money Center. And after buying a drone – at least for legal use – you even have to take an exam. Click here for details!
We read it elsewhere
10 percent of teachers may drop out of public education on December 15: 90 percent have already received at least one vaccine, the Department of Human Resources told People’s Voice. According to the paper, as there are less than 150,000 educators in the country, there could be 15,000 who are not vaccinated. The paper recalls that vaccination will be mandatory in the public education sector from 15 December.