Croix, 20 March 2024 – To mark the week dedicated to financial education, Oney, the European bank specialising in payment and consumer finance, in collaboration with the CSA Institute, is unveiling the results of a ground-breaking survey revealing the purchasing behaviour that the French want to adopt in 2024, and the way in which they manage their consumer budgets. The study highlights a certain paradox: although the French are confident about managing their budgets, the day-to-day reality highlights a lack of financial education, which is vital if consumers are to be made aware of and trained in how to manage their budgets, and if they are to avoid situations of financial fragility, cope with life’s unexpected events and live their consumer lives with greater peace of mind.
Budget management: a French paradox?
The gap between French people’s confidence in managing their spending and the day-to-day reality is striking. Although 90% of the French consider themselves to be in control of their monthly spending, 12% are overdrawn every month and 41% at least once a year.
In France, understanding of budget education is highly disparate and not very institutionalised
Despite the crucial importance of budgeting education for optimal management of money according to one’s life plans and economic situation, the French educate themselves in very different ways.
Family and friends are still the main sources of budget education (31%), but many French people (25%) have taught themselves by doing research. More formal training or awareness-raising is still in the minority: 13% via their bank and 6% via a podcast.
Although young people are the priority audience for training, only 9% of French people say they have received training at school, and 54% of respondents consider schools to be the most effective place to receive information and raise awareness of these issues.
Awareness-raising and training in financial education: institutions widely expected by the French
Among the channels and tools for raising awareness and providing training in financial and budget management, the vast majority of French people (86%) believe that it is up to institutions to take action, by making information available via their websites and educational guides for parents. For 59% of French people, banks also have an important role to play, via banking applications or online management tools.
Consumption in 2024: between caution and pleasure
Les Français prévoient de surveiller leur budget de près en 2024, en adoptant des pratiques économes et prudentes. 42% envisagent de comparer les prix avec patience (+10 points en 2 ans), tandis que l’attrait pour les promotions diminue, avec 27% qui l’envisageant comme réflexe premier (-7 points en 2 ans). La réduction des dépenses et l’épargne, bien que plus difficiles (39% et 35% respectivement), restent prioritaires.
Si cette tendance à la prudence et à l’épargne est durable depuis 2022, une légère baisse de l’utilisation des périodes de promotions en 2024 pour faire des économies est observée, même si elles restent un levier privilégié par les Français. Enfin, en 2024, les Français confirment, comme en 2023 et malgré leur vigilance annoncée, une envie de se faire plaisir et d’y consacrer tout de même une part de leur budget (+5 points en 2 ans).
Purchase financing: a new ally for purchasing power
Financing purchases is also becoming an increasingly central lever for better budget management. And when the French talk about financing their purchases, fractional payments are the most popular solution (50%, +8 points since 2022), while the use of consumer credit has declined slightly to 22% (-2 points since 2022).
Methodology
On behalf of Oney, the CSA Institute conducted an online survey from 12 to 14 March 2024 among 1,008 French people representative of the population aged 18 and over.
Oney is a different, unique bank, born of commerce. A partner in the transformation of commerce for 40 years, Oney designs innovative payment, financing and insurance solutions. The creator of fractional payments, Oney is now a major player in the fractional payment and consumer finance market in Europe, offering a simple, fast, fluid and secure digital purchasing experience. Working alongside 6,500 merchant and e-merchant partners in nearly 17,000 physical and virtual points of sale, Oney supports the projects of over 7.2 million customers in Europe. Every day, their 2,100 talents in Europe mobilize their expertise to give everyone the power to improve their daily lives and consume better.
Follow Oney news : Linkedin
Press contacts
Oney – Frédéric Tancrez: ftancrez@oney.fr / +33 (0)7 60 88 55 03
Havas Paris – oneypress@havas.com / Pierre Dupé : +33 (0) 6 38 21 92 55