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Half of Czech households set no family budget

Almost half of Czech households do not set a family budget, and one-third set no money aside at the end of the month, according to a study by STEM/MARK for consumer lending group Home Credit B.V.

Czech Radio, which carried a report on the study, said six out of 10 households have a loan of some kind. One-third have a mortgage, and one-fifth regularly carry over credit card debt, according to the survey for Home Credit, which was founded in the Czech Republic in 1997, but is based in the Netherlands.

Recent studies have shown that Czechs are borrowing more but missing payments or defaulting less, due to the low unemployment rate and steady economic growth, Czech Radio said.