Young people in Slovakia spend almost everything they earn, according to Sberbank Slovakia which monitored the financial behaviour of clients aged 18-26 years. As a rule, the more they earn, the higher are their expenses. “The extra cash is most often spent on some bigger purchase such as electronics or holidays,” says Filip Vitek from Sberbank Slovakia.
The balance sheet of Slovak youngsters seem gender sensitive given the fact that on average women spend 86 percent of their income per month while for men the figure stands at 84 percent, but this is partially due to the wage disparities favouring men. “It can be also be caused by the fact that temporary jobs tend to be manual, thus suited for men. They are also more willing to accept lower living standards than women,” said Vitek. The study concludes that in spite of the overall poor financial management of young Slovaks, some manage to save, on average €385. “This is a relatively fragile reserve. People over 30 usually try to save up to three monthly pays,” said Vitek.
