INTRUM AB The pandemic and the ongoing economic crisis have made many of Europe's consumers determined to improve their financial understanding. That's good news, given that evidence shows those with a strong level of financial education are more likely to weather the downturn and less likely to feel despairing about their financial future.
Intrum's 2022 European Consumer Payment Report, a survey of 24,000 consumers across Europe, shows a clear correlation between consumers' level of financial education and their resilience to the economic downturn.
Those with an elevated level of financial education report higher levels of financial wellbeing and are significantly less likely to default on their bills, compared with those who say they received poor financial education.
For example, one in two (49 per cent) with a poor financial education - in that they consider this education to have been insufficient for them to manage day-to-day financial matters - expects to default on a utility bill at least once in the next 12 months, compared with just 29 per cent of those with good financial education.
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Intrum AB published this content on 01 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2022 08:23:03 UTC.
