Almost three-fifths of university-educated people have experience in investing. Likewise they also have a better financial background in the form of savings and salaries. This follows from a survey by the IPSOS agency for the Finax company.
Based on data from the Statistical Office of the Slovak Republic university graduates earn on average 40% more compared to those who only have a high school education, and almost twice as many as people with primary education. They also have better financial reserves, almost four times more university-educated people have savings in the amount of at least six times their monthly expenses compared to those with less education.
“People with higher education have a significantly better financial background than the rest of the population. They have a higher propensity to save and have more investment experience than the general average.” said Linda Gáliková, head of the company’s PR.
At the same time, she pointed out that unemployment among university graduates is only at the level of two percent, while in the case of people with basic education it is up to 40%. The average earnings of persons with a university degree is 2371 euroswhich is about 1136 more as in people with basic education. The company pointed out that during your life it is good to build up a cash reserve of at least 1000 euros, which can cover most of the unforeseen expenses. The optimal financial reserve is in the amount of three to six monthly expenses. A total of 30% of people do not have savings, and in the case of those with basic education, it is 41%. On the contrary, at only 16% of university graduates have no savings.
It is also advisable to invest the savingsbut the company’s data shows that Slovaks hold 45 billion euros in current accounts with zero or only minimal interest. The willingness to invest in the Slovak Republic is half as low as in the neighboring Czech Republic. While Slovaks hold 20% of their financial assets in shares and investment funds, Czechs hold much more, namely 45%.
The company explained that, for example, 10,000 euros invested in savings products will have only half its value after 30 years due to inflation, while investing this money can increase its value more than fivefold. Therefore, the optimal amount to invest is ten to twenty percent of the monthly income, while it can be as much as ten euros per month.
