Many Czechs facing financial difficulties

09-05-2020

More than half of Czechs now have problems making ends meet on their monthly income, according to the results of a survey conducted by the credit company Fair Credit among 880 respondents.

One in ten respondents said they need to borrow ahead of payday, 43 percent of people live from one pay check to the next. Before the coronavirus crisis only 28 percent of people said they had no financial reserves.

Financial experts predict that as shops and services reopen people’s financial problems will deepen. Part of the problem is that only 29 percent of respondents have a good overview of their expenditures, most often people over the age of 45.