Czechs have the greatest difficulty in understanding the advice and recommendations of advisors and financial experts (34%). 11% of respondents have no difficulty in this area, compared to 15% of men. On the other hand, 8% of people admit that they are not familiar with these issues at all.

Compared to last year, people also have more difficulty in knowing about saving and provisioning, where there has been a decrease of 5 percentage points. There is also a significant drop in credit and borrowing, where there is a 6 percentage point difference from last year. Investment is also causing problems.

Most Czechs are saving for unexpected expenses and old age

6 out of 10 people are building up a financial reserve in case of an unexpected event. About 40% percent then save for old age and the same number for holidays and experiences. To achieve their financial goals, 54% of people are saving or investing money, while another 46% have cut back on spending. A fifth of people then looked for a new source of income.

Financial literacy of Czechs has slightly improved, especially among young people in the area of investments