European consumer payment report in 2019 From Intrum
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The following is the European consumer payment report in 2019 From Intrum recommended by recordtrend.com. And this article belongs to the classification: Consumer research, research report, Online payment.
INTRUM released the European consumer payment report 2019. Financial pressure on European consumers is rising, with nearly half of respondents (45%) saying their bills are growing faster than their income.
More and more Europeans (24%) are borrowing money or reaching credit card limits to pay bills. 31% of young European consumers do so.
36% of consumers can hardly afford a comfortable retirement life.
69% of respondents thought their financial education was enough, but 37% failed to match basic financial terms with their correct definitions, especially young consumers. Most European consumers (51%) mainly source financial education from their parents, but they prefer schools to teach children this knowledge (63%).
In Europe, bills continue to grow faster than average income and consumers are under increasing financial pressure. 48% of families (parents) with children are worried about financial stress.
Although most European consumers (75%) still manage to save part of their wages each month, more than half of the respondents (52%) are not satisfied with the amount they can save. Only 30% of respondents regard saving for retirement as their main motivation, and two fifths (36%) think that their ability to save for a long time can afford a comfortable retirement life.
About half of the 18-21-year-old respondents (51%) said social media put pressure on them to spend more.
Even high-income Europeans are worried about retirement. The rapid rise in house prices in European countries has made it impossible for the younger generation to buy a house, but the cost of renting is also rising. 44% of visitors were worried that they would never be able to afford a house. More than 51% of high-income tenants share this concern.
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