One in four Slovaks do not have any financial reserves at all, indicates a survey carried out by the STEM/MARK agency at the turn of May and June. Furthermore, only one fifth of Slovaks have a financial reserve equal to five household salaries. Around 62 percent of the respondents claimed that they have been able to save less this year, of which 43 percent noted a drastic difference in their savings. Another 23 percent claim to be in the same financial situation as last year, and only one in ten said that his/her family is now better off.
"When we look at how Slovaks manage their household finances, more than one fifth can't save a single euro per month. One third save €40 to €120 a month. Only 12 percent of the respondents are able to put aside €200 to €400 monthly," explained Home Credit analyst Jaroslav Ondrusek.
In the case of an unexpected loss of income, around 30 percent of the respondents claim that their savings could last three to six months, while those of another 17 percent would last one month and the remaining 22 percent of the respondents wouldn't hold out even that long. Only 9 percent of the respondents stated that they are financially covered for more than a year.
Source: TASR
