- Lack of savings endangers the financial stability of households in Slovakia.
- Slovaks often spend beyond revenue and indebted.
- Basic knowledge of the creation of reserves and investment is missing.
- Fraudsters use ignorance and fear in financial attacks.
Life above the situation, lack of savings and poor investment awareness are among the biggest problems that endanger the financial stability of households. On the occasion of the upcoming International Literacy Day (8 September), he pointed out this Investment analyst Fingo.sk Matúš Čarný.
“Financial literacy is the ability to reasonably handle money – from budget planning through saving and investing to preparation for unexpected situations. Whoever knows at least a little in finance can make better decisions and avoid unnecessary debt. On the contrary, low financial literacy often leads to life from paycheck to payout, ” explained the analyst.
According to him, one of the biggest problems is spending beyond the revenue frameworkthat people call loans or credit cards. The weakness of many is also the creation of reserves, Many households do not have postponed expenditure for one month. There are also a basic knowledge of investment, Therefore, Slovaks leave money often lying in accounts where inflation is degraded.
“If families were able to postpone at least part of their income regularly, they would be much more durable in times of crisis. The biggest mistake is the idea that financial problems can be solved by another loan. In fact, it just deepens the problems,” He pointed out Čarny.
He also pointed out that in addition to the management errors People are facing increasingly sophisticated fraud, From Phishing’s attacks to fake investment offers to phone calls where fraudsters marry a bank or police. They use ignorance and fear to force people to act impulsively.
“Today it is not just about emails, but also about SMS messages and even applications that can imitate the bank’s communication. A typical feature is the pressure for immediate decision. Whoever takes time to verify will find that this is a lie. Here too, basic financial literacy helps to recognize when something makes no sense, ” approached the analyst.
If households are to be more stable, less indebted and ready for the future, financial education must be classified as priorities already in schools. “As we teach children to read and count, we should also lead them to deal with money. Financial education should not be a one -time lecture, but part of elementary school teaching. Every generation that grows up without this knowledge repeats the same mistakes,” added Čarný.
