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International Personal Finance Financial Inclusion and Wellbeing Report. Wave 4 ResultsOctober – December 2013. 1. Background & Method 2. Economic Outlook 3. Financial Holdings 4. Use of Credit Services 5. Standard of Living 6. Further Research. Contents. Background & Method. - PowerPoint PPT Presentation
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Wave 4 Results October – December 2013
International Personal FinanceFinancial Inclusion and Wellbeing Report
Contents
1. Background & Method2. Economic Outlook3. Financial Holdings4. Use of Credit Services5. Standard of Living6. Further Research
Background & Method
Background
• IPF currently provides consumer credit to 2.5 million customers, across six international markets. The business offering is unique for the markets in which IPF operates.
• This project is designed to engage with IPF’s customer base, understand the issues they have and their feelings towards the society in which they live, and how they can be better represented in the political and commercial worlds.
• IPF wishes to use this research to enhance its unique position as a mouthpiece for the lower socio-economic demographic amongst key groups of decision-makers.
• This was the fourth wave to be run using the IPF panel and 11,472 individuals completed the survey this time.
• Please note that any reference in commentary to ‘Czechs’ or ‘Hungarians’ specifically relates to IPF customers in those markets and not the population of the country as a wholeBackground & Method
Method
Invitation from IPF to register for the panel
Registration survey
YES Take survey now
NOTake survey later
Reminder to take survey
No response
Complete now
Wave 2 survey
Email invitation from YouGov to
take Wave 4
Call from IPF inviting customer to take part in
Computer Assisted Telephone Interview
(CATI)
Happy to take survey
Refused to take part
IPF customers not previously invited IPF existing panellists IPF customers without email addresses
Background & Method
Mexico & Poland only
Provident Communities
Czech Republic
Online completes 3,887
Hungary
Online completes 3,457
Mexico
Online completes 198
CATI completes 280
Slovakia
Online completes 1,019
Romania
Online completes 837
Poland
Online completes 1,673
CATI completes 121
Background & Method
For wave 4 as with wave 3, we have continued to use the same the weighting process so that the data contained in this report is reflective of IPF’s customer book1. IPF customer book is the split by country of the customer database2. Market-level weighting shows the weighting used in the individual country tables3. Overall-level weighting are the weights used in the overall tables to emphasise the importance of each group in the customer book as a whole
IPF Customer BookCzech Rep Hungary Mexico Poland Romania Slovakia
% of customer book 10.5% 10.0% 28.0% 35.0% 10.9% 5.6%
Market-level weightingMale 46.6% 42.2% 32.4% 43.5% 44.8% 44.1%
Female 53.4% 57.8% 67.6% 56.5% 55.2% 55.9%18-24 13.7% 6.4% 15.7% 12.9% 5.4% 12.6%25-34 23.3% 18.3% 28.1% 21.2% 21.2% 23.2%35-44 23.3% 24.3% 27.3% 20.5% 29.3% 23.1%45-54 18.2% 20.2% 18.7% 20.8% 19.1% 20.1%
55+ 21.5% 30.8% 10.1% 24.6% 25.1% 21.1%
Overall-level weightingMale 4.9% 4.2% 9.1% 15.2% 4.9% 2.5%
Female 5.6% 5.8% 18.9% 19.8% 6.0% 3.1%18-24 1.4% 0.6% 4.4% 4.5% 0.6% 0.7%25-34 2.4% 1.8% 7.9% 7.4% 2.3% 1.3%35-44 2.4% 2.4% 7.6% 7.2% 3.2% 1.3%45-54 1.9% 2.0% 5.2% 7.3% 2.1% 1.1%
55+ 2.3% 3.1% 2.8% 8.6% 2.7% 1.2%
Provident Communities
Background & Method
Economic Outlook
Concerns over loss of employment and neighbourhood crime have fallen significantly in the past six months
Cost of living
Loss of your job
Crime in your neighbourhood
Cost of health services
Cost of education
Public service cuts
Other
Not sure
I have no concerns
50%
21%
11%
6%
4%
1%
2%
2%
3%
49%
18%
7%
6%
6%
1%
3%
5%
5%
Nov '13Apr '13
Which of these is of most concern to you currently? Base: April 2013 (9,960) | November 2013 (11,472)
• The flipside is an increase in the proportion of people concerned over the rise in education costs• More people are reporting that they have no concerns
Economic Outlook
Which of these is of most concern to you currently? Base: All in Czech Republic April (1,796) Nov (3,887)
Czechs are less concerned about job losses than they have been previously• This fall is significant among 18-24 year-olds, with a drop of eight percentage points• Cost of living concerns remain the same overall, although they are now driven more by women
than men
Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov
64% 64% 63% 61% 65% 67%58% 56%
62% 64% 64% 64% 67% 66% 69% 69%
16%13% 17%
13%16% 12% 27%
19%15% 12% 17% 12%
15% 15% 11% 9%
5%5%
3%4%
7%5%
6%
6% 3% 4%3%
3%
6% 4% 8% 7%
11%15% 12% 17%
10% 13%6%
16% 15% 15%13%
16%9% 12% 9% 12%
3% 4% 5% 5% 2% 3% 3% 3% 5% 5% 3% 5% 3% 3% 3% 3%
Cost of living Loss of job Cost of health services Other No concerns
Total Male Female 18-24 25-34 35-44 45-54 55+
Economic Outlook
Which of these is of most concern to you currently? Base: All in Hungary April (4,835) Nov (3,457)
Very little has changed in the concerns of Hungarians in the past six months• 18-24 year-olds are significantly less concerned with the cost of living than they have been previously• Men have become more confident in the security of their jobs• The cost of education has become slightly more of a concern, but still sits at only 4% of Hungarians
Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov
80% 79% 78% 80% 81% 78%85%
78% 83% 83% 81% 80% 81% 79% 75% 76%
4% 4% 5% 3% 4%4%
4%
3%5% 4% 4% 3% 4% 5%
5% 3%
3% 3% 3% 3% 4%3%
1%
3%1% 2% 1% 1%
3% 2% 6% 5%
11% 12% 12% 11% 9% 14% 8%12%
9% 9% 12% 15% 10% 13% 13% 14%
2% 2% 2% 3% 2% 1% 2% 4% 2% 2% 2% 1% 2% 1% 1% 2%
Cost of living Loss of job Cost of health services Other No concerns
Total Male Female 18-24 25-34 35-44 45-54 55+
Economic Outlook
Which of these is of most concern to you currently? Base: All in Mexico April (542) Nov (478)
Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov
22% 23% 25%19% 21% 25%
14%6%
14% 13%
29%36% 34% 37%
20% 18%
29% 24%28%
25%30% 23% 42%
28%
39%
25%
21%18% 18%
22%
26% 31%
34%
22%
33%
29%
34%
19%
29%
20%
30%
25%
36% 27% 35% 17% 42%
16%
14%
25%
12%
21%
14%
27%
13%
35%
16%
27%
14% 19% 11%22%
10%
27%
1% 6% 2% 6% 1% 6% 2%11%
1%10%
0% 0% 2% 2% 2%8%
Cost of living Loss of job Crime in neighbourhood Other No concerns
Total Male Female 18-24 25-34 35-44 45-54 55+
Economic Outlook
There has been a significant drop in the concerns of Mexicans over the levels of crime in their neighbourhoods• This is complemented by a six-fold increase in those who have no concerns• However, despite falls elsewhere, concern over the cost of living remains unchanged at a
quarter of respondents
Which of these is of most concern to you currently? Base: All in Poland April (915) Nov (1,794)
Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov
53% 50% 52% 49%55% 51%
44%53% 48% 52% 51% 49%
58%50%
61%
47%
22%20%
23%21%
21%20%
27%18% 31% 22% 24% 25%
20%24%
9%
14%
10%10%
11%10%
10%11% 9% 5%
5%5% 8% 7%
8%10% 19%
20%
10%13%
9%11%
10% 13% 13%14%
11%14% 9% 14%
11% 11%10%
11%
5% 7% 5% 9% 4% 5% 7% 10% 5% 7% 8% 5% 3% 5% 1%8%
Cost of living Loss of job Cost of health services Other No concerns
Total Male Female 18-24 25-34 35-44 45-54 55+
Economic Outlook
Poles have become less concerned over the cost of living and job security over the past six months• However, this outlook on job security is only reflected in the attitudes of those aged 18-34; among
older people it continues to rise• The older generation are also noticeably concerned about the continued rise in health service costs
Which of these is of most concern to you currently? Base: All in Romania April (1,478) Nov (837)
Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov
62% 64% 63% 67%61% 61%
50%59%
53%61% 62% 59%
67% 66% 67% 71%
17% 16% 15% 12% 19% 18%
24%
24%
22%17% 16% 19%
18% 15% 10%10%
7% 6% 7% 6% 7% 6%7%
3%8% 6% 9% 9%
6%6%
4% 1%
11% 11% 12% 11% 11% 13%12%
8% 13% 12% 11% 11% 8% 12%18% 15%
3% 3% 3% 4% 2% 2% 7% 6% 4% 4% 2% 2% 1% 1% 1% 3%
Cost of living Loss of job Cost of education Other No concerns
Total Male Female 18-24 25-34 35-44 45-54 55+
Economic Outlook
The past six months has seen very little change in the concerns of Romanians• A slight rise in concern over the cost of living is most apparent among those aged 18-34• Concern over job losses and the cost of education have both dropped slightly suggesting a
general economic improvement
Which of these is of most concern to you currently? Base: All in Slovakia April (394) Nov (1,019)
Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov
64% 59% 64%55%
65% 63% 62%51%
69%61% 63% 64%
57% 53%
68% 65%
20%18%
17%
21%
21%16% 23%
22%
13%16%
23% 20%26%
27%
13%9%
3%5%
3%4%
3%5%
0%
4%
5%2%
3% 2% 3% 4% 4%10%
9%11% 10%
10%
8%12% 12%
13%6%
16%
10%9% 9% 8% 9% 9%
4% 7% 6% 10%3% 4% 3%
10% 7% 5% 1% 5% 5% 8% 6% 7%
Cost of living Loss of job Cost of health services Other No concerns
Total Male Female 18-24 25-34 35-44 45-54 55+
Economic Outlook
IPF customers in Slovakia report that they have fewer concerns than they felt six months ago• This is reflected in fewer worrying about the cost of living• There has been an increase among men in concern over job security while the exact opposite
trend is apparent amongst female respondents
Increases in the cost of food, particularly in Czech Rep and Hungary, is the most apparent driver in the cost-of-living increase
All
Czech Rep
Hungary
Mexico
Poland
Romania
Slovakia
32%
23%
42%
26%
39%
20%
43%
25%
15%
8%
28%
23%
49%
21%
9%
6%
5%
19%
6%
1%
2%
6%
16%
18%
1%
4%
8%
7%
6%
2%
6%
5%
7%
5%
6%
12%
23%
4%
8%
13%
11%
12%
7%
6%
16%
9%
4%
4%
5%
4%
9%
1%
3%
3%
2%
3%
Increase in cost of food Increase in cost of utilities Increase in transport costs
Increase in rent or mortgage payments Increase in cost of consumer/household goods Other
Not sure I don’t believe there has been an increase in the cost of living
Which of the following would you say is most responsible for the increase in the cost of living? Please select one answer only. Base: All Nov’13 (11,472), CZ (3,887), HU (3,457), MX (478), PL (1,794), RO (837), SK (1,019)
• Cost of utilities remains the second most-cited item although significantly fewer people report this when compared with six months ago
• Healthcare and education costs are two items pushing the cost of living higher according to IPF customers
Economic Outlook
Thinking of the next twelve months, do you expect the economy in your country to get better or worse? Base: All Nov’13 (11,472), CZ (3,887), HU (3,457), MX (478), PL (1,794), RO (837), SK (1,019)
All
Czech Rep
Hungary
Mexico
Poland
Romania
Slovakia
12%
9%
13%
15%
11%
5%
14%
22%
18%
22%
26%
21%
24%
15%
20%
20%
10%
16%
25%
17%
26%
27%
41%
35%
19%
29%
21%
34%
16%
11%
17%
18%
13%
27%
9%
3%
1%
2%
6%
1%
5%
1%
Not sure A lot worse A little worse Will stay the same A little better A lot better
Confidence in the ability of the economy to improve over the next 12 months has risen since April 2013• This pattern, most evident in Hungary and Poland, is reflective of all Eastern European markets• Romania remains the market where people have the most positive outlook, with a third
expecting improvement• Mexicans expect a slight deterioration in the country’s economy in the next 12 months
Economic Outlook
Better
Increased earnings
Changed personal circumstances
New job
Able to work again
Family member sending money from abroad
Help from the state
Other
Not sure
39%
54%
30%
28%
7%
5%
3%
11%
2%
40%
49%
27%
25%
7%
5%
4%
11%
6%
Worse
Increased living cost
Reduced income
Job loss in HH
Not able to work
Changed personal circumstances
Family member stopped sending money from abroad
Other
Not sure
21%
72%
33%
25%
15%
11%
2%
7%
2%
18%
70%
32%
19%
13%
10%
4%
8%
5%
Thinking now of the financial position of your own household, over the next twelve months, do you think your financial position will get better or worse? You say that you think your financial position will get better/worse, which of these could explain why things will change? Base: All Apr’13 (9,960); Better (3,126); Worse (2,448) | Nov’13 (11,472); Better (4,589); Worse (2,065)
The past six months has seen a small movement in the level of positivity of IPF customers regarding their household finances• Increased earnings and changed personal circumstances remain the two most cited drivers of
improvement in household economic situation• However, there are increased levels of uncertainty when compared with six months ago
Economic Outlook
Apr’13
Nov’13
Thinking now of the financial position of your own household, over the next twelve months, do you think your financial position will get better or worse? You say that you think your financial position will get better/worse, which of these could explain why things will change? Base: All Nov’13 (11,472), CZ (3,887), HU (3,457), MX (478), PL (1,794), RO (837), SK (1,019)
Economic Outlook
Fewer Czechs and Hungarians feel that their household economic situation will worsen compared to six months ago• Mexicans are significantly less likely to claim that increased wages are the driver of improved
household financial situationCzech Rep Hungary Mexico Poland Romania Slovakia
Better 28% 29% 55% 37% 37% 32%
Increased hours /earnings 54% 55% 37% 64% 54% 26%
Changed personal / family circumstances 30% 19% 22% 34% 25% 23%New job 20% 28% 23% 28% 22% 29%
Able to work again 8% 6% 8% 7% 7% 5%Family member sending money from abroad 3% 6% 1% 7% 15% 8%
Help from the state 6% 2% 4% 6% 2% 4%Other 10% 13% 14% 9% 10% 8%
Not sure 3% 7% 9% 3% 3% 4%
Czech Rep Hungary Mexico Poland Romania Slovakia
Worse 23% 22% 8% 22% 23% 19%Increased cost of living 62% 77% 48% 75% 81% 48%
Reduced income / hours 26% 44% 23% 35% 33% 17%Job loss/ partner job loss 21% 21% 20% 20% 16% 15%
Changed personal / family circumstances 13% 6% 12% 12% 4% 8%Not able to work 10% 12% 1% 18% 11% 10%
Family member stopped sending money from abroad 1% 7% - 3% 9% 1%Other 11% 6% 13% 7% 4% 5%
Not sure 4% 3% 16% 2% 3% 4%
How much do you trust the financial sector?Base: All Nov’13 (11,472), CZ (3,887), HU (3,457), MX (478), PL (1,794), RO (837), SK (1,019)
Economic Outlook
Trust in the financial sector is higher in Mexico than other IPF markets• In Eastern Europe, Slovakians are most likely to trust their financial sector, with Hungarians the
least trusting • Perhaps reflecting the fact that cynicism increases with age, 18-24 year-olds are most trusting
of the financial sector
0 1 2 3 4 5 6 7 8 9 100%
5%
10%
15%
20%
25%
30%
35%
40%All Czech Rep Hungary Mexico Poland Romania Slovakia
No confidence Full confidence
Household economic situation summary
Compared to previous results,
fewer people are concerned about job losses and neighbourhood crime
Food and utilities remain most cited drivers of cost of living increases,
with healthcare more prominent than previously found
Mexicans are more trusting in their financial sector than any of the European nations
IPF customers are more positive about the economic outlook than six months ago
There is increased concern in the
rise of education costs since April 2013
Economic Outlook
Financial Holdings
Which of these products do you have? Choose as many as apply. Base: All Apr’13 (9,960) | Nov’13 (11,472)
Bank account
Credit Card
Life insurance
Retirement savings
plan
Buildings insurance
Savings account
Home contents
insurance
ASU in-surance
Mortgage Long term invest-ment
None of these
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
54%
33% 32%
20% 19% 19% 15% 15% 14%
3%
17%
54%
31% 32%
19% 18% 16% 15% 16% 14%
3%
17%
Apr'13 Nov'13
As found previously, just over half of IPF customers hold a bank account, although there has been a small drop in savings account ownership• There has also been a slight fall in credit card ownership in the past six months• Ownership of other financial products has not moved more than one percentage point
Financial Holdings
Which of these products do you have? Choose as many as apply. Base: All Czech Rep Apr’13 (1,796) | Nov’13 (3,887)
Bank account
Credit Card Retirement savings
plan
Life in-surance
Home con-tents in-surance
ASU In-surance
Buildings insurance
Mortgage Savings account
Long term investment
None of these
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
71%
37% 40%
27% 25%18% 16%
12% 11%4%
11%
74%
38% 35%
26% 26%19%
14% 12% 10%4%
12%
Apr'13 Nov'13
Fewer Czechs have plans in place for retirement than we saw six months ago• However, there has been a rise in the proportion of individuals holding a bank account• Czech Rep has also seen a slight fall in those who have buildings insurance
Financial Holdings
Which of these products do you have? Choose as many as apply. Base: All Hungary Apr’13 (4,835) | Nov’13 (3,457)
Bank account
Home con-tents in-surance
Mortgage Credit Card Life in-surance
Buildings insurance
ASU in-surance
Retirement savings
plan
Savings account
Long term investment
None of these
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
77%
46%38%
30%23%
19%
10%6% 4%
2%6%
76%
45%37%
27% 24%20%
9% 6% 4% 2% 7%
Apr'13 Nov'13
A quarter of Hungarians have a credit card, significantly fewer than we saw in April 2013• Bank account ownership remains at three in four Hungarians, higher than almost all other markets• Ownership of life insurance is significantly higher among men (27%) than women (23%)
Financial Holdings
Which of these products do you have? Choose as many as apply. Base: All Mexico Apr’13 (542) | Nov’13 (478)
Retirement savings
plan
Life in-surance
Savings account
Credit Card Bank account
ASU in-surance
Mortgage Long term investment
Buildings insurance
Home con-tents in-surance
None of these
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
30%24% 22%
18%14%
10%6% 4% 3%
1%
37%34%
24% 21%17% 16% 15%
6% 4% 3% 2%
34%
Apr'13 Nov'13
Ownership of ASU insurance in Mexico has increased by five percentage points since April 2013• Bank account ownership has risen slightly but remains very low compared to Europe• Retirement planning is the financial product most owned by Mexicans
Financial Holdings
Which of these products do you have? Choose as many as apply. Base: All Poland Apr’13 (915) | Nov’13 (1,794)
Bank account
Life in-surance
Credit Card Buildings insurance
Savings account
ASU in-surance
Mortgage Home con-tents in-surance
Retirement savings
plan
Long term investment
None of these
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
75%
46%40%
25% 25%21%
13% 12% 10%
2%8%
72%
47%
36%
25%21% 19%
13% 12%8%
3%9%
Apr'13 Nov'13
Poland has seen a fall in the level of ownership of both bank accounts and credit cards• Ownership of personal insurances (life, ASU) is significantly higher among men than women• Retirement plans are held by the same proportion of over 55s as those aged 35-44
Financial Holdings
Which of these products do you have? Choose as many as apply. Base: All Romania Apr’13 (1,478) | Nov’13 (837)
Credit Card Bank account
Buildings insurance
Life in-surance
Home con-tents in-surance
Mortgage Retirement savings
plan
ASU in-surance
Savings account
Long term investment
None of these
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
45%
36%41%
21%15% 13% 13% 12%
7%2%
17%
47% 44%39%
20%14% 14% 14% 12%
7%2%
17%
Apr'13 Nov'13
Bank account ownership in Romania has significantly increased in the period from April to October 2013• However, credit card ownership has also risen in that time• Life insurance is owned by a quarter of men (24%) compared to only 17% of women
Financial Holdings
Which of these products do you have? Choose as many as apply. Base: All Slovakia Apr’13 (394) | Nov’13 (1,019)
Bank account
Credit Card Life in-surance
Retirement savings
plan
Home con-tents in-surance
Mortgage Savings account
ASU in-surance
Buildings insurance
Long term investment
None of these
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
85%
43%38%
33% 35%
24% 21% 21% 18%
4% 3%
76%
37%
27% 26% 25%19%
16% 14% 13%
2%7%
Apr'13 Nov'13
Slovakia has seen falls in ownership of a number of products• Ownership of most products is higher among men than women except savings accounts, where
twice as many women have them• The proportion of credit card holders increases with age
Financial Holdings
Financial Holdings summary
As found previously, just over half of IPF customers hold a bank account
1234 1234 1234 1234
BANK
Mr Smith
Credit card and savings account ownership has fallen slightly since April 2013
ASU insurance is the only product(s) which has seen an increase in ownership levels over the past six months
The proportion of Romanians and Mexicans with retirement plans in place has improved since we last asked
Use of Credit Services
All
Czech Rep
Hungary
Mexico
Poland
Romania
Slovakia
23%
20%
13%
30%
22%
18%
28%
16%
19%
26%
9%
19%
13%
11%
36%
35%
46%
37%
32%
44%
28%
20%
20%
12%
23%
20%
21%
26%
5%
5%
3%
2%
7%
4%
7%
Not sure Impossible Difficult Quite easy Very easy
How easy do you think it would be for you to borrow [local currency] from a mainstream bank or lender? Base: All Nov’13 (11,472), CZ (3,887), HU (3,457), MX (478), PL (1,794), RO (837), SK (1,019)
IPF customers are more confident now that they could borrow money from a mainstream bank or lender than they were six months ago• This trend is most reflected in Mexico and Poland, although Hungary is experiencing a reversal with
more saying it would be impossible• Slovakians are the group most confident that they could attain credit, although less so than April 2013
Use of Credit Services
Unexpected costs
Housing costs
Purchase of household appliances
Healthcare
Education
Food
Purchase of electrical devices
Purchase of clothes and shoes
Entertainment, hobbies
Jewellery
Other
Would not take loan for any of these
47%
28%
27%
26%
21%
17%
13%
9%
6%
1%
10%
9%
44%
25%
24%
23%
17%
14%
10%
9%
4%
1%
7%
11%
Nov'13Apr'13
Would you consider taking a loan for the following? Choose as many as apply.Base: All Apr’13 (9,960) | Nov’13 (11,472)
More individuals state that they would not be prepared to take a loan when compared with April 2013• Preparedness to take a loan has increased for only one reason (purchase of clothes/shoes) and this is only marginal• All other items (except unexpected costs) have seen a fall
Use of Credit Services
Unexpected costs
Purchase of household appliances
Housing costs
Healthcare
Purchase of electrical devices
Education
Food
Entertainment, hobbies
Purchase of clothes and shoes
Jewellery
Other
Would not take loan for any of these
54%
33%
25%
25%
14%
14%
9%
4%
4%
1%
5%
10%
55%
35%
26%
22%
14%
14%
9%
4%
4%
1%
5%
11%
Nov'13Apr'13
Would you consider taking a loan for the following? Choose as many as apply.Base: All Czech Rep Apr’13 (1,796) | Nov’13 (3,887)
Czechs are significantly less likely to take a loan for healthcare reasons than previously• Women are noticeably more prepared to take loans for unexpected costs or household appliances• Somewhat surprisingly, likelihood of taking loans for healthcare decrease with age
Use of Credit Services
Unexpected costs
Housing costs
Purchase of household appliances
Healthcare
Purchase of electrical devices
Food
Education
Purchase of clothes and shoes
Entertainment, hobbies
Jewellery
Other
Would not take loan for any of these
48%
29%
19%
13%
9%
9%
7%
5%
4%
0%
5%
24%
52%
27%
19%
14%
11%
10%
9%
6%
2%
0%
5%
20%
Nov'13Apr'13
Would you consider taking a loan for the following? Choose as many as apply.Base: All Hungary Apr’13 (4,835) | Nov’13 (3,457)
There has been a significant increase in Hungarians’ preparedness to take out loans to subsidise education costs• This particularly applies to those aged 18-24 (16%) compared to all other age groups• Hungarians have increased their willingness to take loans for unexpected costs
Use of Credit Services
Unexpected costs
Healthcare
Education
Housing costs
Food
Purchase of household appliances
Purchase of clothes and shoes
Entertainment, hobbies
Purchase of electrical devices
Jewellery
Other
Would not take loan for any of these
53%
37%
41%
28%
28%
13%
9%
5%
9%
1%
12%
7%
37%
25%
23%
17%
16%
8%
7%
1%
1%
0%
12%
14%
Nov'13Apr'13
Would you consider taking a loan for the following? Choose as many as apply.Base: All Mexico Apr’13 (542) | Nov’13 (478)
Mexico has seen a 100% increase in the proportion of individuals unprepared to take a loan for any of the listed items• The result of this is a significant decrease for almost all items• Mexican men are significantly more likely than their female counterparts to take a loan for unexpected costs
Use of Credit Services
Unexpected costs
Purchase of household appliances
Housing costs
Healthcare
Food
Purchase of electrical devices
Purchase of clothes and shoes
Education
Entertainment, hobbies
Jewellery
Other
Would not take loan for any of these
43%
34%
29%
23%
18%
18%
13%
12%
7%
1%
12%
7%
44%
33%
27%
24%
19%
15%
15%
15%
6%
1%
6%
8%
Nov'13Apr'13
Would you consider taking a loan for the following? Choose as many as apply.Base: All Poland Apr’13 (915) | Nov’13 (1,794)
Overall, very little has changed among Poles in terms of what they are prepared to take a loan to pay for• Polish women are significantly more likely to take loans to pay for housing costs• Men prefer the idea of taking loans in order to pay for electrical devices (non-household appliances)
Use of Credit Services
Unexpected costs
Purchase of household appliances
Housing costs
Healthcare
Education
Purchase of electrical devices
Food
Entertainment, hobbies
Purchase of clothes and shoes
Jewellery
Other
Would not take loan for any of these
37%
35%
28%
21%
22%
12%
8%
7%
4%
1%
6%
8%
36%
31%
30%
21%
20%
14%
7%
7%
6%
1%
4%
9%
Nov'13Apr'13
Would you consider taking a loan for the following? Choose as many as apply.Base: All Apr’13 (1,478) | Nov’13 (837)
Romanian IPF customers maintain the attitudes towards loans, and what they will use them for, that they first displayed in April 2013• Women are significantly more likely than men to take loans for housing and healthcare costs• General preparedness to take a loan for these items decreases with age
Use of Credit Services
Unexpected costs
Housing costs
Purchase of household appliances
Healthcare
Food
Purchase of electrical devices
Education
Purchase of clothes and shoes
Entertainment, hobbies
Jewellery
Other
Would not take loan for any of these
57%
26%
33%
26%
13%
14%
11%
7%
8%
1%
7%
11%
58%
30%
25%
23%
14%
13%
11%
7%
4%
1%
4%
11%
Nov'13Apr'13
Would you consider taking a loan for the following? Choose as many as apply.Base: All Apr’13 (394) | Nov’13 (1,019)
Compared to six months ago, significantly fewer Slovakians are prepared to take loans for household appliances and entertainment• In a reversal of trends seen in other markets, younger respondents are more likely to claim a
blanket ban on taking out loans
Use of Credit Services
Please indicate whether you agree of disagree with each of the following statements… Base: All (11,472)
I think carefully before I borrow
I tend to use credit on impulse
I only use credit in an emergency
I use credit regularly just as part of the way I manage my budget
I usually borrow as much as the lender will allow me
I never borrow more than I know I can repay without difficulty
I can comfortably afford my credit repayments
92%
17%
87%
34%
37%
82%
72%
8%
83%
14%
66%
63%
18%
28%
Agree Disagree
A smaller proportion of individuals agree that they think carefully before borrowing in comparison with six months ago • This is in tandem with an increase in people prepared to use credit on impulse• More people are looking to borrow as much as the lender will give them
Use of Credit Services
Please indicate whether you agree of disagree with each of the following statements… Base: All Czech Rep (3,887)
I think carefully before I borrow
I tend to use credit on impulse
I only use credit in an emergency
I use credit regularly just as part of the way I manage my budget
I usually borrow as much as the lender will allow me
I never borrow more than I know I can repay without difficulty
I can comfortably afford my credit repayments
92%
19%
89%
33%
32%
89%
72%
8%
81%
11%
67%
68%
11%
28%
Agree Disagree
Czech Rep has seen a positive movement of respondents being able to afford credit repayments and never borrowing too much• They also state that fewer people are using credit regularly as part of their budget management• Men are significantly more likely to be able to afford their credit repayments
Use of Credit Services
Please indicate whether you agree of disagree with each of the following statements… Base: All Hungary (3,457)
I think carefully before I borrow
I tend to use credit on impulse
I only use credit in an emergency
I use credit regularly just as part of the way I manage my budget
I usually borrow as much as the lender will allow me
I never borrow more than I know I can repay without difficulty
I can comfortably afford my credit repayments
94%
13%
86%
32%
36%
84%
44%
6%
87%
14%
68%
64%
16%
56%
Agree Disagree
A higher proportion of Hungarians agree that they can comfortably afford their credit repayments when compared with previous findings• Women are more likely to use credit only in emergencies while men are more impulsive• Using credit as part of budget management increases with age
Use of Credit Services
Please indicate whether you agree of disagree with each of the following statements… Base: All Mexico (478)
I think carefully before I borrow
I tend to use credit on impulse
I only use credit in an emergency
I use credit regularly just as part of the way I manage my budget
I usually borrow as much as the lender will allow me
I never borrow more than I know I can repay without difficulty
I can comfortably afford my credit repayments
94%
18%
88%
37%
22%
70%
89%
6%
82%
12%
63%
78%
30%
11%
Agree Disagree
Evidence points to Mexicans moving towards less responsible borrowing• There is more impulsive borrowing and less concern over being able to afford repayments• 18-24s are particularly likely to borrow without checking they can afford to pay it back
Use of Credit Services
Please indicate whether you agree of disagree with each of the following statements… Base: All Poland (1,794)
I think carefully before I borrow
I tend to use credit on impulse
I only use credit in an emergency
I use credit regularly just as part of the way I manage my budget
I usually borrow as much as the lender will allow me
I never borrow more than I know I can repay without difficulty
I can comfortably afford my credit repayments
91%
17%
84%
29%
46%
84%
72%
9%
83%
16%
71%
54%
16%
28%
Agree Disagree
Results in Poland very much reflect those found six months ago, with nine in ten thinking carefully before borrowing• Women are more likely to use credit in an emergency, while men claim to use it as a regular
means of supplementing their budget
Use of Credit Services
Please indicate whether you agree of disagree with each of the following statements… Base: All Romania (837)
I think carefully before I borrow
I tend to use credit on impulse
I only use credit in an emergency
I use credit regularly just as part of the way I manage my budget
I usually borrow as much as the lender will allow me
I never borrow more than I know I can repay without difficulty
I can comfortably afford my credit repayments
92%
12%
89%
46%
39%
91%
62%
8%
88%
11%
54%
61%
9%
38%
Agree Disagree
There has been very little movement in attitudes toward credit in Romania, with the vast majority only using credit in an emergency• Women are significantly more likely to borrow as much as a lender will give them
Use of Credit Services
Please indicate whether you agree of disagree with each of the following statements… Base: All Slovakia (1,019)
I think carefully before I borrow
I tend to use credit on impulse
I only use credit in an emergency
I use credit regularly just as part of the way I manage my budget
I usually borrow as much as the lender will allow me
I never borrow more than I know I can repay without difficulty
I can comfortably afford my credit repayments
93%
16%
86%
35%
60%
90%
59%
7%
84%
14%
65%
40%
10%
41%
Agree Disagree
There has not been much change in the Slovakian attitude towards use of credit in the past six months• Men and 18-24s are the groups most likely to use credit impulsively• Older people are less confident in their ability to afford their repayments
Use of Credit Services
If I could afford my repayments
How much I will have to repay in total
Whether I really needed the money
How long I will have to make the repayments
Ease of applying
The reputation of the provider
The APR
What family/friends will think of me taking out credit
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 65% 70% 75% 80%
SlovakiaRomaniaPolandMexicoHungaryCzech RepAll
The size of repayment and whether they could afford it were the two key concerns for IPF customers before deciding to take credit• Hungarians were most concerned about whether they really needed the money, suggesting the
credit was perhaps non-essential
What factors did you consider when deciding to take out credit? Choose as many as apply.Base: All Nov’13 (11,472), CZ (3,887), HU (3,457), MX (478), PL (1,794), RO (837), SK (1,019)
Use of Credit Services
Use of credit services summary
There is increased confidence among IPF
customers that they would be able to borrow from a bank/mainstream lender now
Despite this, fewer want to take a loan now than they did in April 2013
Only purchasing clothes and shoes has increased as a motivation for taking a loan
More people are prepared to use
credit on impulse than was found previously, with fewer putting thought into whether they should borrow
Size of repayment and ability to afford it are the
key considerations before taking a loan
Standard of Living
Much more cautious
A little more cautious
About the same as usual
Spending a little more freely
Spending a lot more freely
All 45% 26% 17% 6% 2%
Czech Rep 34% 27% 27% 5% 5%
Hungary 62% 25% 7% 2% 0%
Mexico 59% 16% 12% 7% 2%
Poland 38% 36% 19% 4% 1%
Romania 38% 19% 21% 12% 8%
Slovakia 31% 22% 28% 8% 2%
Thinking about day-to-day spending over the last twelve months, which of the following would apply to how you have approached spending in current economic conditions? Base: All Nov’13 (11,472), CZ (3,887), HU (3,457), MX (478), PL (1,794), RO (837), SK (1,019)
Fewer IPF customers are spending as cautiously as six months ago, with the majority of those now spending about the same as usual • Older respondents are likely to be more cautious spenders than their younger compatriots• Cautious spending is significantly higher among Hungarians than other nationalities
Standard of Living
You have said that you have been more cautious in your spending in the last 12 months. Which if any of the following have you cut back on in order to decrease your level of day-to-day spending over the last twelve months? Please select all that apply. Base: All whose spending is more cautious Apr’13 (7,847) | Nov’13 (7,703)
Of IPF European customers who have reduced their spending, there has been an increase in those cutting back on buying quality food• Somewhat positively, fewer people are reducing their spending on healthcare and education• Spending on other items remains largely unchanged
Socialising
Consumer/household goods
Holidays
Telephone
Quality food
Transport
Heating
Healthcare expenditure
Education expenditure
70%
68%
63%
45%
38%
31%
29%
15%
11%
69%
68%
63%
44%
44%
32%
28%
14%
9%
Nov'13Apr'13
Standard of Living
You have said that you have been more cautious in your spending in the last 12 months. Which if any of the following have you cut back on in order to decrease your level of day-to-day spending over the last twelve months? Please select all that apply. Base: All whose spending is more cautious Czech Rep Apr’13 (1,176) | Nov’13 (2,353)
Significantly fewer Czechs are reducing their spending on telephones when compared with data from April 2013• Women (71%) are significantly more likely to reduce spending on consumer/household goods than men (63%)• Worryingly, the older generations are more likely to cut down on their heating expenditure
Consumer/household goods
Holidays
Socialising
Telephone
Quality food
Transport
Heating
Education expenditure
Healthcare expenditure
68%
64%
68%
52%
38%
27%
26%
10%
9%
67%
67%
67%
45%
35%
26%
25%
11%
10%
Nov'13Apr'13
Standard of Living
You have said that you have been more cautious in your spending in the last 12 months. Which if any of the following have you cut back on in order to decrease your level of day-to-day spending over the last twelve months? Please select all that apply. Base: All whose spending is more cautious Hungary Apr’13 (4,384) | Nov’13 (3,028)
There has been both a reduction in the proportion of Hungarians who are spending more cautiously and a reduction in the items they are reducing spending on• Men are significantly less likely to cut back on consumer goods but more likely to reduce transport spending• Reductions in holiday spending increase with age (18-24s: 41%, 55+: 58%)
Consumer/household goods
Socialising
Quality food
Holidays
Telephone
Heating
Transport
Healthcare expenditure
Education expenditure
76%
67%
64%
56%
54%
48%
41%
16%
7%
72%
66%
60%
55%
52%
42%
37%
12%
6%
Nov'13Apr'13
Standard of Living
You have said that you have been more cautious in your spending in the last 12 months. Which if any of the following have you cut back on in order to decrease your level of day-to-day spending over the last twelve months? Please select all that apply. Base: All whose spending is more cautious Poland Apr’13 (741) | Nov’13 (1,319)
There have not been any significant changes in the items Poles are prepared to reduce their spending on• However, fewer are prepared to reduce outlay on socialising, consumer goods and holidays• Men are significantly more likely to reduce spending on heating (28% vs. 22% of women)
Socialising
Consumer/household goods
Holidays
Telephone
Quality food
Transport
Heating
Healthcare expenditure
Education expenditure
74%
67%
65%
42%
41%
30%
26%
12%
11%
71%
63%
61%
40%
37%
33%
25%
13%
10%
Nov'13Apr'13
Standard of Living
You have said that you have been more cautious in your spending in the last 12 months. Which if any of the following have you cut back on in order to decrease your level of day-to-day spending over the last twelve months? Please select all that apply. Base: All whose spending is more cautious Romania Apr’13 (870) | Nov’13 (459)
Consumer goods, holidays and healthcare are three items that Romanians have increasingly reduced their spending on since April• However, education is the only significant change, with fewer cutting back on this• Reductions in healthcare spending increase with age (25-44: 14%, 45+: 26%)
Consumer/household goods
Holidays
Socialising
Quality food
Telephone
Transport
Heating
Healthcare expenditure
Education expenditure
76%
74%
73%
62%
47%
30%
27%
16%
9%
79%
77%
72%
64%
45%
28%
27%
20%
5%
Nov'13Apr'13
Standard of Living
You have said that you have been more cautious in your spending in the last 12 months. Which if any of the following have you cut back on in order to decrease your level of day-to-day spending over the last twelve months? Please select all that apply. Base: All whose spending is more cautious Slovakia Apr’13 (225) | Nov’13 (544)
Fewer Slovakians are reducing their spending on holidays, socialising and heating, although none of these are significant changes• Women are significantly more likely to reduce their outlay on quality food and socialising
Consumer/household goods
Holidays
Socialising
Telephone
Transport
Quality food
Heating
Healthcare expenditure
Education expenditure
68%
69%
70%
47%
37%
30%
30%
17%
12%
67%
66%
65%
48%
38%
28%
26%
15%
13%
Nov'13Apr'13
Standard of Living
How do you respond to rising food prices? Please choose up to two responses.Base: All whose spending is more cautious Slovakia Apr’13 (225) | Nov’13 (544)
In most IPF markets, the response to rising food prices is to take extra care to have less food being wasted• However Romanians prefer to save money from other areas of their life to have more to spend on food• The older generations are significantly more likely to buy less food rather than reducing spending
elsewhere
Standard of Living
I take extra care to have less food going to waste
I buy less expensive products
I try to save money from other parts of my life to have more on food
I buy less food
57%
44%
32%
16%
60%
49%
25%
20%
62%
46%
24%
17%
54%
31%
40%
9%
63%
55%
25%
16%
34%
31%
44%
31%
57%
47%
34%
13%
SlovakiaRomaniaPolandMexicoHungaryCzech RepAll
Approximately how much of your total income do you pay on energy bills?Base: All whose spending is more cautious Slovakia Apr’13 (225) | Nov’13 (544)
Three in five IPF customers are spending at least a quarter of their total income on paying energy bills• Hungarians spend the highest proportion, with one in three using half their income on energy• On the contrary, the majority of Poles spend less than a quarter of their income in this way
Standard of Living
14%
18%
25%
43%HalfA thirdA quarterLess than a quar-ter
22%
35%
24%
18%32%
36%
24%
8%
All
Czech Rep Hungary Mexico
Poland Romania Slovakia
8%10%
20%62%
23%
28%28%
21%
7%10%
31%
52%
18%
24%
30%
29%
14% 10% 9% 5% 6% 4%
23% 19%9% 8% 12% 8%
22%13%
20% 23% 25%39% 38% 46% 8%
5% 23% 25% 18% 24%
18% 35%
50% 49% 47%
47% 50%44%
48%
42%
53% 55%50%
55% 40%
41%
15% 16% 16%7% 5% 6%
20%33%
12% 10%17%
11%17%
10%
2% 1% 3% 1% 1% 0% 1% 1% 3% 2% 2% 1% 4% 1%
Very easy
Quite easy
Difficult
Impossible
Not sure
All Czech Rep Hungary Mexico Poland Romania Slovakia
If you were to face an emergency or an unexpected bill or expense how easy or difficult would it be for you to find -amount- without borrowing? How easy or difficult would you find it to save -amount- for a major purchase of something that you needed? Base: All Nov’13 (11,472), CZ (3,887), HU (3,457), MX (478), PL (1,794), RO (837), SK (1,019)
Living
Standards
IPF customers are less certain about whether they would be able to either save or find money for unexpected expenses than six months ago• Hungarians are more likely to believe they would be able to save money compared to their responses in April 2013• Mexicans are far less certain about the situation and particularly their ability to find money without borrowing
Standard of Living
Half of people have been asked by family or friends for financial help in the past six months• This pattern is fairly consistent across the markets, with Hungary having the highest level (58%)• 18-24s (61%) and singles without children (56%) are the groups most likely to be asked for help
Has anyone of your family or friends asked you for financial help in the last 6 months?Base: All Nov’13 (11,472), CZ (3,887), HU (3,457), MX (478), PL (1,794), RO (837), SK (1,019)
Standard of Living
52%41%
7%
YesNoRather not say
50%39%
10%
52%43%
5%
58%33%
9%
55%38%
7%
48%45%
6%
53%37%
10%
All
Czech Rep Hungary Mexico
Poland Romania Slovakia
Poles are the IPF customer group most likely to be satisfied with their overall standard of living, closely followed by Czechs
All
Czech Rep
Hungary
Poland
Romania
Slovakia
7%
7%
10%
7%
7%
8%
19%
21%
18%
17%
24%
20%
37%
32%
60%
34%
36%
33%
30%
36%
7%
35%
28%
33%
4%
3%
1%
5%
3%
3%
2%
1%
4%
2%
2%
3%
Very dissatisfied Quite dissatisfied Neither satisfied nor dissatisfied Quite satisfied Very satisfied Not sure
Generally, how satisfied are you with the overall standard of living of your household? Base: All Nov’13 (11,472), CZ (3,887), HU (3,457), PL (1,794), RO (837), SK (1,019)
• Romanians claim to be the least satisfied, although this is driven mostly by those aged 45+ • Overall, men (37%) are significantly more likely than women (31%) to be satisfied
Economic Outlook
Generally, how satisfied are you with the overall standard of living of your household? Base: All in Czech Republic April (1,796) Nov (3,887)
Satisfaction with standard of living has increased significantly among Czech in the past six months• Men are clearly more of a factor in this movement than women• 25-34 year-olds are also a lot more satisfied that they had been previously asked in April
Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov
9% 7% 8% 6% 10% 7% 10% 6% 7% 6% 7% 6% 9% 8% 12% 8%
25%21% 22%
19%
27%23%
23%20%
24%21% 22% 20%
24% 22%
31%
23%
30%32% 31%
29%
29%34%
21%28%
32%29%
32% 35%30% 35%
31%
31%
33% 36% 34%40%
31% 32%
39% 38%
33%38%
35% 35% 35% 33%24%
35%
3% 3% 4% 5% 2% 2%4% 8% 4% 4% 3% 3% 2% 1% 2% 2%
Very dissatisfied Quite dissatisfied Neither satisfied nor dissatisfied Quite satisfied Very satisfied Not sureTotal Male Female 18-24 25-34 35-44 45-54 55+
Economic Outlook
Generally, how satisfied are you with the overall standard of living of your household? Base: All in Hungary April (4,835) Nov (3,457)
Hungary has seen a move to indifference from dissatisfaction
• This is apparent across both genders and all age groups, although men remain slightly more positive than women as was found in April 2013
Total Male Female 18-24 25-34 35-44 45-54 55+
Economic Outlook
Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov
12% 10% 12% 11% 12% 9% 12% 15% 10% 7% 9% 9% 13% 9% 14% 11%
23%18%
23%20% 23%
17%
26%12% 21%
17%20% 15%
24%
18%
25%22%
55%60%
54%57%
56%62%
51%
59%59%
65%61%
62%
53%61%
51%55%
6% 7% 7% 7% 6% 6% 6% 10% 6% 6% 6%8% 5% 6% 7% 6%
1% 1% 1% 2% 1% 1% 3% 2% 1% 2% 1% 1% 1% 1% 1% 1%
Very dissatisfied Quite dissatisfied Neither satisfied nor dissatisfied Quite satisfied Very satisfied Not sure
Generally, how satisfied are you with the overall standard of living of your household? Base: All in Poland April (915) Nov (1,794)
The proportion of Polish IPF customers who claim to be very satisfied with their standard of living has increased since April 2013• Men and those aged 25-34 are significantly more satisfied than they were six months ago
Total Male Female 18-24 25-34 35-44 45-54 55+
Economic Outlook
Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov7% 7% 6% 6% 8% 7% 3% 1% 4% 6% 6% 7% 7% 9% 13% 8%
20% 17% 20%15%
19% 18%17%
13%
22%12%
18% 18% 19%20%
20%20%
35%34% 32%
33%
38%35%
29%32%
35%
30%
33% 36% 36%34%
39%37%
34%35% 37%
37%
31%34%
44%
38%
32%
42%
38% 34% 33% 32%27%
32%
3% 5% 4% 7%3% 3% 6%
13%4% 7%
4% 4% 4% 3% 0%2%
Very dissatisfied Quite dissatisfied Neither satisfied nor dissatisfied Quite satisfied Very satisfied Not sure
Generally, how satisfied are you with the overall standard of living of your household? Base: All in Romania April (1,478) Nov (837)
The outlook of Romanians remains stable with one in three still dissatisfied with the standard of living they have• 18-24s have demonstrated a significant fall in satisfaction with life since April 2013• Contrarily, the over 55s are notably less dissatisfied with life
Total Male Female 18-24 25-34 35-44 45-54 55+
Economic Outlook
Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov
8% 7% 8% 7% 8% 7% 6% 3% 7% 5%11% 8% 6% 9% 7% 7%
25% 24% 24% 24% 26% 25%17% 23%
22% 22%
22%23% 26% 26% 33%
27%
35% 36% 34% 36%35% 35%
37%39% 37% 37%
33% 38% 37% 34%33%
33%
28% 28% 28% 29% 28% 27%35%
29% 29% 32% 30% 28% 27% 29% 25%24%
3% 3% 4% 3% 2% 2% 5% 6% 4% 3% 3% 3% 2% 2% 2%3%
Very dissatisfied Quite dissatisfied Neither satisfied nor dissatisfied Quite satisfied Very satisfied Not sure
Generally, how satisfied are you with the overall standard of living of your household? Base: All in Slovakia April (394) Nov (1,019)
Overall, Slovakians are slightly less positive about their standard of living than they were six months ago• Those aged 45-54 are significantly less satisfied than they were in April 2013
Total Male Female 18-24 25-34 35-44 45-54 55+
Economic Outlook
Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov Apr Nov6% 8% 6% 8% 6% 8% 3% 6% 5% 8% 8% 6% 8% 10% 6% 10%
20% 20%17% 18% 23% 22%
21% 16%13%
14%19%
18%21%
25% 29%28%
33% 33%31% 30%
34% 35%40% 40%
41% 38%36%
34%17%
28% 30% 27%
34% 33%36% 37%
33% 30%26% 32% 33% 35%
34%35%
50%
32% 26% 30%
5% 3% 8% 4% 3% 2%8%
5% 6% 4% 2%3%
2% 3% 7% 1%
Very dissatisfied Quite dissatisfied Neither satisfied nor dissatisfied Quite satisfied Very satisfied Not sure
Standard of living summaryWhilst they haven’t thrown caution to the wind, fewer people are spending as carefully as they were six months ago
Living
Standards
For those who are cutting back, there has been an
increase in people moving to lower-quality food in an attempt to reduce
outgoingsThe response to rising food prices has
been individuals taking more care not to waste food
For the majority, at least a quarter of total income is
going towards energy bills
Half of people have been asked for financial help by family/friends in the past six months
One in three are satisfied with their standard of living
Further Research
Potential subjects for revisiting
• What are the elements that drive/impede trust in the financial sector? Are the feelings of IPF customers reflective of the general populations of their respective markets?
• There has been an improvement in retirement planning, but what plans are people making and how successful will they be in supporting financial stability in retirement?
• What are the cut-off points for people taking credit? When will people say repayments are too high?
• How much of a factor is seasonality in the level of change in preparedness to spend money? Does the run-up to Xmas affect people’s willingness to spend more freely?
• People are often being asked for financial support by family/friends, but are they giving it? How much are they giving and what are the repayment terms they agree? Are they having to borrow themselves in order to support others?
Leo Brownstein, YouGov Financial Services
leo.brownstein@yougov.com | 020 7012 6013
Contact
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