Slovaks associate a decent standard of living not with luxury but with dignified housing, quality food and financial security. They say they need an average monthly income of €2,720 to achieve it, according to a survey by Focus for the Partners Foundation. The survey of 1,032 Slovaks, conducted in June, found that 39% of households do not feel they enjoy such a standard of living. Nearly half of households said they can manage on up to €2,200 a month. While only 6% of individuals said they need €3,000, the figure rises to 39% among families of five or more.
"People do not compare themselves with the prospect of a luxurious lifestyle. They assess whether they can cover everyday expenses and look to the future without fear," said Martin Slosiarik, a sociologist at Focus.
Robert Varsanyi of the Partners Foundation said people associate a decent life with being able to pay for housing, food and bills while keeping a reserve for unexpected expenses.
But the survey found that this basic sense of financial security remains out of reach for many households.
Two-fifths (39 percent) of Slovak households stated that they aren't living a decent life, with income being the key factor. While only 35 percent of people with an income under €1,000 feel that they have a decent standard of living, this rises to as much as 82 percent for those with an income over €2,600.
According to the survey, the savings of Slovak households are at a ten-year low. Almost a quarter of them say that they have no savings, while only 14 percent have the recommended six-month cushion, but the size of the reserve directly determines the sense of having a decent life. Among respondents without any savings, only 32 percent feel this way, as opposed to 91 percent of those with a sufficient reserve.
Source: TASR
