Up to 75 percent of single parents with two or more children have no savings. This is according to a representative survey by EOS KSI Slovensko, conducted by the AKO agency. They have no savings and feel they are worse off than a year ago. This population group also confirms problems with repaying their obligations and debts.
Single parents with one or more children are unable to build a financial reserve. Two-thirds of single parents (mothers or fathers), according to the survey results, have no savings. In the category of single parents with two or more children, this figure is as high as 75 percent. In contrast, up to 67 percent of seniors aged 66 and over declare that they have savings.
"This doesn't mean that seniors in our country are well off. However, it is clear that mothers or fathers who are raising children on their own are the most vulnerable social group," analyzes Peter Dvornák, CEO of the collection company EOS KSI Slovensko.
Even single parents who do have some savings admit they are minimal. The majority (38 percent with one child, 67 percent with two or more children) have an amount up to 1000 EUR, and only in a smaller number of cases (26% with one child, 33% with two or more children) does it exceed 5,000 EUR.
"If this group's situation unexpectedly worsens or they lose their job, for example, they almost immediately fall into the state's social safety net. In many cases, however, even that cannot help them live a dignified life," explains Peter Čanda, Executive Manager of EOS KSI Slovensko.
Their situation is getting worse year by year
According to the EOS KSI Slovensko survey, two-thirds of single parents with one child and 42 percent with two or more children feel that their financial situation has worsened year-on-year. In comparison, 36 percent of people aged 66 and over rate their financial situation as worse. More than half of them consider it unchanged. "This indicator shows that the recent indexation of pensions has outpaced inflation, and seniors also feel the thirteenth pension. However, state aid for single parents has not grown at a similar rate," clarifies Václav Hřích from the AKO agency about the possible causes.
According to the latest census, there are approximately 200,000 single-parent households in Slovakia on the poverty line. The non-profit organization Jeden rodič (One Parent) explains that it is a trap the system has put them in, and from which they have no chance of getting out on their own.
Debts and repayment problems
Only 11 percent of seniors aged 66 and over currently have a loan or overdue receivables, but up to 60 percent of single parents with one child do. Compared to the general population, a high percentage of single parents (10 percent with one child, 25 percent with two or more children) are unable to pay their obligations on time. In the total population, only 4.4 percent of survey respondents have overdue debts, and among seniors over 66, only one percent of people have unpaid debts.
"If a single parent has an obligation with us that they cannot manage to repay, they just need to contact us. We have already helped thousands of debtors," says Peter Dvornák, Director of EOS KSI Slovensko, suggesting a way to solve the problems, and adds: "There is no one-size-fits-all solution for everyone, but we will certainly find a suitable procedure for a specific debtor, taking into account their difficult life situation."