makingcents_survey

Makingcents of Money… Survey Results

With everyone more conscious about their money and savings, Makingcents.ie asked 1,000 people about managing their money and their feelings around financial terms.

Here is a snap shot of some of the results:

- On managing their money: half of our respondents create monthly budgets to better manage their finances. However, of those who do up a budget, only 15% tend to follow it strictly, an additional 57% follow their budget to some extent, while 28% do not stick to their budgets.

-In terms of planning for the future and retirement, half (50%) of our respondents have already started planning for their retirement.  45% of those aged between 35-54 haven’t started planning for their retirement yet. Additionally, females are less worried about their own retirement security than males.

-On the other hand, when it comes managing finances on a day-to-day basis, females are perceived to be much better at handling money when compared to males: while 16% of the public quote males to be better at handling money, 42% feel it’s women who are better with money.  The remaining 42% feel that both genders are equally good at managing finances.

-When it comes to understanding financial jargon, we found that two-thirds struggle to understand financial terms when dealing with their financial institutions. Females tend to be less savvy about financial terms than males (with 73% of females versus 63% of males finding financial jargon confusing).