According to the company, the repercussions of the pandemic, the war in Ukraine, inflation or problems in the supply chains will cause people to look for solutions to cope with higher costs.
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Most Czechs cite clothing spending cuts (56 percent) as the first option for cost savings in the event of job loss or other economic problems.
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Women (59 percent) would save on clothes more often than men (52 percent).
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For example, the online lingerie retailer Astratex has previously stated that it has seen sales fall by more than 20 percent in connection with the war in Ukraine.
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Last but not least, according to the survey, in the event of financial problems, Czechs are trying to save on their children’s education and hobby groups.
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Eight percent of respondents chose this option, more often men than women.
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Only 15 percent of Czechs would then reduce their comfort and use public transport more often instead of their own car, and one in five would save on health-related expenses, such as medicines, vitamins, massages and rehabilitation.
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“In the event of a loss of income, Czechs most often refuse purchases, services and experiences that are not necessarily necessary,” said KRUK CEO Jaroslava Palendalová.
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“At the same time, it is important to find out that an absolutely minimal share of survey respondents would solve their unfavorable financial situation with a loan from family, friends or financial institutions. However, only 12 percent would inform their creditors in such a situation to try to negotiate the adjustment of their liabilities, “she added.
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Almost half of women, but only 39 percent of men, would start buying only the most necessary food in financial need. Men, on the other hand, would use the money saved more often (43 percent) than women (35 percent).
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Young people, but less childless Czechs, would most often forgive themselves for culture and holidays.
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People employed in the banking and insurance sectors, as well as in IT and telecommunications, rely most on their savings.
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Employees in the field of agriculture and forestry, as well as in healthcare, have the least opportunity to use the savings.
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Unemployed and housewives have the greatest tendency not to limit themselves in the absence of funds, but to borrow from family or acquaintances.
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“But for people without income, such a solution is definitely not appropriate. However, the share of the unemployed who would solve their financial problems with a loan has decreased compared to the previous survey, ”added Palendalová.
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