One in three Czechs report that their financial situation deteriorated during the pandemic, according to a new survey carried out by Provident Financial. It found that women were twice as likely to plan savings, while men were twice as likely to be looking for investments. The worst hit were those who have no savings, with 56 percent reporting a worsening of their position. Still, one-quarter of them are planning to save more, whether that means in cash (15 percent of them) or in a savings account (9 percent). A surprising 12 percent of those surveyed between the ages of 18 and 24 reported that their financial situation had improved. “We observed a responsible approach by our clients in connection with the first wave of the coronavirus and a reduction in requests for loans,” said Provident’s general director Viktor Boczan. But he warned that if a second wave were to hit, the situation would be far more difficult because the savings of most households have been exhausted.
