Survey: Half of Slovak households have financial reserves lower than monthly incomes

The savings of half of Slovak households are lower than their monthly incomes, according to a survey carried out by STEM/MARK agency for the Home Credit company in early June. The savings of one third of Slovaks do not exceed 400. Conversely, 14 percent of Slovaks have savings amounting to at least 12,000. The savings of four out of ten people have decreased over the course of last year and this year under the influence of the coronavirus pandemic. However, shop closures and limited services have increased family savings among one fifth of respondents by thousands of euros. Their family budgets have also swelled thanks to increases in monthly incomes, inheritances, property sales, money from savings and investments and reduced loan instalments.