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

Šumiac breaks sweat record: first sauna to be revived

The sauna built in Šumiac by miller Michal Demo after returning from Russian captivity was the first one not just in Slovakia but in the entire former Czechoslovakia. Now it can be saved and re-used.

The construction of first Slovak sauna in Šumiac

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between August 18 and August 27, as well as regular services in different languages, training for foreigners in English and highlights of the year.

Pivobrana - Beer Festival

Have you ever climbed a via ferrata? Photo

In central Slovakia, there is one also suitable for beginners. Here are some of the views it offers.

Agrokomplex opens its gates Photo

This year’s exhibition has more discussions with experts and a family programme.