Warsaw Gen Y living above its means

Warsaw ranked 19th out of 20 cities included in the Generation Y Cost Of Living Index, which ranks cities in order of how much money young university graduates can put aside. The ranking was compiled by Knight Frank, a commercial and residential property consultancy. “We have used variables including graduate starting salary, cost of rented accommodation and utility bills as well as the cost of a pint of beer, coffee and groceries,” the report informed. Young graduates in Frankfurt, which tops the ranking, are able to put aside as much as 60 percent of their salary at the end of the month. Berlin and Mexico City were just behind. In Warsaw however, which came 19th, Generation Y members spend more than they earn. According to data compiled by the National Register of Debtors (Krajowy Rejestr Długów), as much as 47 percent of young Poles have savings, but only 18 percent of them would be able to subsist for several months in the case of losing a job.