Survey: Two-Thirds of Women Take Responsibility for Household Finances

Bratislava, May 17 (TASR) - According to a survey carried out among women by a company called 'UNIVERSAL maklersky dom' in March, women in Slovakia usually have the final say in managing household finances, with two-thirds (66.5 percent) of the respondents stating that they are responsible for the family budget, although there is still room for improvement when it comes to investing. Slovak women are also responsible savers, with nearly 60 percent saying that they save regularly each month and over a third (34.7 percent) saving occasionally, depending on their situation. "Only 6 percent of women don't build up any financial reserves, which shows a generally high awareness of the need for this," said Marek Sokol, expert guarantor for the loans and capital market sector at the company. The survey revealed room for improvement in investing, with nearly half (46.1 percent) of women not investing at all. While 40.4 percent invest regularly and 13.5 percent occasionally, the most popular option among investors is mutual funds and ETFs (25.7 percent), followed by stocks, exchange-traded funds or a mix of mutual and bond funds. According to the survey, the biggest barrier to investing is a lack of available funds, cited by 62.6 percent of the respondents. This was followed by concerns about risks (26.2 percent) and a lack of information (11.2 percent). Meanwhile, 40.4 percent of women expressed interest in investment education. "The survey showed us strong financial awareness among Slovak women regarding saving and managing the household budget, but also the insufficient use of investment tools to increase wealth. In order to expand investment activities, it's essential to intensify financial and investment education, which could strengthen the financial independence and stability of women in Slovakia," added Sokol. lin/df