Survey: Half of Czechs Cut Already Reduced Their Spending

Fifty percent of people have already reduced their spending. Moreover, nine out of ten Czechs expect to tighten their belts even more due to inflation.

More than half of people are actively looking for discounts as their main cost-saving tool and are also cutting back on excessive current spending.

That’s according to a Median survey of 1,022 respondents for Broker Consulting.

A job or second job is being sought by 23 percent of respondents.

The general price increase is felt by 94 percent of Czechs, more than a third of them very strongly, the authors of the survey said.

Therefore, a third of people are also trying to significantly or partially reduce the cost of eating out in restaurants, while a quarter is cutting back on culture or travel.

Every fourth respondent is already planning to cover increased energy costs during the heating season in this manner, and another 35% are still considering it.

Three-quarters of respondents are concerned about the impact of inflation on domestic budgets.

They use savings and current accounts most often for saving, and in one-third of cases, they put their savings into investment or mutual funds.

Nearly three-quarters of Czechs with a reserve of more than CZK 30,000 continue to plan to secure their reserves for old age.