Czechs now want CZK 88,000 in ready savings to feel financially secure

The amount Czechs say they need immediately available to feel financially comfortable has risen to CZK 88,000, up from CZK 68,000 in the previous survey, according to research published Monday.

The findings reveal a mixed picture: people’s overall sense of security has improved, but more are worried about their finances. Some 60 percent expressed concern about deterioration in their financial situation and assets, compared with 55 percent last November.

The BNP Paribas Cardif Security Index reached 45 points out of 100, two points higher than its previous reading. Ipsos conducted the survey among 1,500 respondents in July, meaning the results reflect attitudes earlier this year rather than current November sentiment.

The increase in the preferred financial cushion amounts to CZK 20,000, or approximately 29 percent.

However, 11 percent of respondents said they had no financial reserve. Another 27 percent said their savings would cover between one and three months if they lost their income.

Savings and financial reserves were a source of financial security for 40 percent of respondents. The same proportion identified a regular, sufficient income.

Despite growing financial concerns, more people said they were prepared for the potential financial consequences of risks in this area. That share increased from 73 to 77 percent.

Ipsos researcher Michal Straka said respondents also generally considered themselves less likely to encounter individual risks over the next three years.

The index combines perceptions of risk, expectations of experiencing it and preparedness to manage the financial consequences. A higher score therefore does not necessarily mean fewer people have concerns.

All four areas measured by the index improved. Home and family scored highest at 49 points, followed by finances and assets and work and lifestyle, both at 44. Health remained lowest at 42.

The work and lifestyle score rose from 42 points in the previous wave. Some 29 percent of employees reported having a supplementary income, down from 34 percent, although more people without one said they planned to find an additional source.

The survey also found substantial differences in self-reported well-being between age groups.

Overall, 71 percent described themselves as mentally healthy and 67 percent as emotionally stable. Among respondents aged 18 to 24, however, only 54 percent felt mentally healthy, compared with 79 percent of those aged 55 to 65.

Younger adults were also more likely to report burnout in their personal lives: 41 percent did so, against 29 percent in the oldest surveyed group.

Some 41 percent of younger respondents said they could handle stressful situations calmly, compared with 56 percent of those aged 55 to 65. These findings reflect respondents’ own assessments rather than clinical diagnoses.