Survey Reveals Two in Five Slovaks Cannot Invest Due to Empty Pockets

For many Slovaks, the journey into investing stalls well before fear of market losses kicks in. A new survey by investment firm Across Private Investments finds that 40% of people say they simply have no capital to invest. That stark number is backed by a parallel reality: roughly the same proportion of households has no financial reserve, or enough to cover at most one month’s expenses.

Only one in five Slovaks invests regularly, and a further 16% do so occasionally, according to the research. While about 15% would like to begin investing, around two-fifths neither invest nor plan to. For the roughly 20% who cited fear of risk as a barrier, the much larger obstacle is the lack of starting funds.

Andrej Rajčány, investment director at Across, cautioned that the true danger arises when the little money people have is directed into investments before a safety net is in place. If an unexpected expense hits, they are forced to sell at an unfavourable time and realise a loss. “The bigger problem is when people have nothing to grow. Investing without a reserve can turn a market dip into a personal financial crisis,” he said.

Where the Real Problem Lies: No Safety Net, So Investing Turns Dangerous

Why Scant Savings Are the Core Weakness

The survey highlights a structural issue that goes beyond common narratives about risk aversion. While many Slovaks are indeed uncomfortable with market swings, the primary barrier is a simple shortfall of disposable income. Households that lack even a modest buffer inevitably treat any investible sum as part of their emergency liquidity – a recipe for forced exits at the bottom.

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This dynamic means that building a culture of investing in Slovakia cannot succeed solely through education about asset classes or risk tolerance. The pre-condition is improving the basic financial stability of households. As Dominik Hapl, chief analyst at Across, pointed out, if no amount of budget trimming frees up money, the focus must shift from cutting expenses to raising income – through upskilling, language courses, or a side job.

Small Sums and Compound Interest Still Work

Once a household has a reserve of at least three months’ living costs, even tiny amounts can be put to work. The survey’s experts stressed that investing does not demand large lump sums. Contributions as small as €10 or €20 a month, invested consistently over a long horizon and matched to a person’s risk tolerance, start to benefit from compound growth. That message is especially important in a country where the median financial cushion is virtually nonexistent.

What Slovak Households Can Do to Build Savings and Start Investing

The path from financial fragility to a simple investment habit runs through a sequence that the Across analysts laid out:

  • Start with a monthly budget audit. Track where money is leaking – unused subscriptions, high-cost daily habits, or replaceable services. Only after trimming what is truly wasteful does space for regular saving appear.
  • Build a cash reserve equal to three months of expenses before investing. This buffer prevents a surprise car repair or a short-term job loss from forcing the sale of investments into a falling market, as Rajčány warned.
  • If the budget cannot be squeezed further, redirect effort to the income side. Hapl advised investing in your own skills: a professional certification, new language, or technical training can meaningfully boost earnings and open the door to higher wages or a side business.
  • Begin investing with modest, automated monthly contributions. Even €10 or €20 can start compounding once a reserve is secure. Choose assets that match your time horizon and real risk tolerance – conservative options for shorter goals, more growth-oriented ones for decades-long horizons.
  • Stick to a long-term, regular plan. Rajčány’s advice is to ignore short-term noise, keep contributions steady, and align the investment mix with a clearly defined goal so that emotions do not drive decisions when markets turn turbulent.