How is the youth doing in Slovakia?

Almost one in six inhabitants of Slovakia belongs to Generation Z (under 30 years old). What do these students or young professionals starting their careers consider to be the country's biggest problems, how do they live, how do they approach saving and investing, and what do they expect from a bank? Experts from VÚB Bank also looked at how many young people are leaving the country and what could help Slovakia retain them or draw them back.

What drives them, troubles them, and how they make financial decisions was examined by a survey on young people conducted by the International Subsidiary Banks Division of Intesa Sanpaolo, of which VÚB is a part. It looked at their values and attitudes toward finance in Slovakia and compared them with other Central European countries – Hungary, Croatia, and Serbia.

Selected findings of the exclusive survey:

• About a third of young Slovaks live with their parents, most often because they cannot afford to live independently.
• Approximately four out of ten manage their financial affairs entirely on their own, while a similar share makes decisions together with other household members.
• Half of young Slovaks say they experience financial stress.
• Young Slovaks are the most cautious with spending among the surveyed countries, which also corresponds with their effort to keep finances under control.
• Compared to other countries, Slovaks save more, with a quarter having savings at the end of every month.
• Respondents are most worried about the cost of living, the state of healthcare, and unemployment. The environment stands in the background.

"Young Slovaks are just starting out in the labor market and therefore earn the least compared to other age groups. At the same time, young people who are not studying are also more frequently among the unemployed. Their net wealth (the difference between total assets, including housing, and debts) fell in real terms by 16 percent between 2021 and 2023 due to high inflation," comments VÚB macroeconomist Michal Lehuta.

According to the survey, young people in Slovakia do significantly better at saving than those in the compared countries. A quarter of them manage to save every month. However, they do not trust themselves much when it comes to financial management. About half (55%) of respondents say they believe they will achieve their financial goals – the lowest among the compared countries. Half of the youth also state they experience financial stress.

What is important to them when choosing a bank? Slovaks view banks more positively than those in the compared countries – as a trustworthy partner. In our country, nearly 60 percent of respondents evaluated them this way, while other countries did not exceed the halfway mark. Young people in Slovakia expect help from a bank especially with housing finance (57%) or buying a car (28.5%), but a quarter also when starting a business and investing.

"We perceive that young people need advice in many financial matters and need access to products that genuinely improve their situation. At the same time, the data reveals an interesting paradox – almost 79 percent of young Slovaks feel they manage their finances well, yet every second person also frequently experiences stress over money. Therefore, a bank should not just be a place where a young person opens an account or takes out a loan. It should be an easy-to-understand and trustworthy partner that helps them make confident decisions – from financing their first home or launching a business to building a long-term financial reserve and investing," says Štefan Hronec, product specialist for financial education at VÚB.

Another positive sign for the future of young people is that they are beginning to realize the power of long-term investing. Young Slovaks are among the most active investors in the region – a quarter regularly invest in stocks, ETFs, or mutual funds. However, they still leave too much money in current accounts, which is rapidly losing value in 2026 with inflation close to four percent.

What young people have in their own hands is their financial decision-making. Therefore, VÚB Bank experts recommend 4 financial principles to young people to help them improve their financial planning:

1. Build a reserve. Ideally three to six months' worth of expenses in a savings account. Currently, not even half of young people have a financial cushion – yet it is the first step to independence.
2. Invest regularly, even small amounts. At VÚB, 76 percent of young people already regularly invest sums between 20 and 50 euros.
3. Beware of promises of quick gains, for example in cryptocurrencies. In finance, it is always true that higher (potential) return goes hand in hand with greater risk.
4. Take advantage of new rules for first housing. From January 1, 2027, it is enough to save half of the own resources compared to the past. The sooner they start saving, the sooner they will live in their own home.

So, how can we help young people in a situation where a fifth of them leave to study abroad and many do not plan to return to their home country permanently? Michal Lehuta points out the recommendations of several international organizations:

"The survey shows that young people in Slovakia are not mostly troubled by abstract topics, but by very practical issues – the rising cost of living, the state of healthcare, and uncertainty related to the economic situation and employment. If we want them to stay in Slovakia or return after studying abroad, convincing them with patriotism is not enough. We must create a country where one can live with dignity, find a quality job, and plan the future with confidence. Meanwhile, the recommendations of international organizations have been repetitive for a long time: let's improve education, support innovation, modernize public institutions, and increase the quality of housing and public services. That is precisely the most effective policy against the brain drain of young people," concludes Michal Lehuta.