Spectator on facebook

Spectator on facebook

FOCUS SHORT

We cannot save enough, say Slovaks

SLOVAK savers are not satisfied with how much they are managing to save. An international survey conducted by ING Bank shows that Slovaks were next to last in a saving satisfaction ranking among European countries, the TASR newswire reported in late February.

SLOVAK savers are not satisfied with how much they are managing to save. An international survey conducted by ING Bank shows that Slovaks were next to last in a saving satisfaction ranking among European countries, the TASR newswire reported in late February.

More than 50 percent of Slovaks regard their financial situation as having worsened compared with the past, arguing that prices are growing faster than incomes. They are also dissatisfied with the amounts they have to spend regularly on personal expenses.

“Older Slovaks, pensioners, women and the unemployed are more negatively affected by the current economic situation,” said Eduard Hagara, an analyst with ING Bank in Slovakia, adding that men, students and younger savers are among those most satisfied with their savings.

In general, only 28 percent are satisfied with how much they are able to save, according to the survey. As many as 65 percent of Slovaks name unexpected expenses as the main reason why they save. When asked how they save, 78 percent of Slovaks save in their current account and only 12 percent invest in mutual funds.

Simultaneously, as many as 43 percent of Slovaks save something ‘under the pillow’ i.e. hold cash at home. The findings suggest Slovaks are among the most conservative savers in Europe.

Topic: Finances and Advisory


Top stories

Sagan rewrites history Video

Cyclist Peter Sagan becomes the first man to win three consecutive world championships.

When the state can’t keep a secret

A selective leak has tarnished President Kiska’s reputation. But he must continue to speak out about corruption.

President Andrej Kiska

Blog: Why did I come here?

A group of teachers and students from the Bratislava-based school gathered to support their friend, colleague, and fellow foreigner, as she had already tried four times just to get in the door of the foreign police.

Queue in front of the foreigners' police department in Bratislava.

Teachers and scientist support anti-corruption march

They praise the activities of students who may change the current state of corruption.

Organisers of the first student protest, Karolína Farská and Dávid Straka.