Summary: Study on Romanians' Shared Expenses Management Habits
Key Findings
38% of Romanians who share expenses with their partner or family do not track their payments.
Only 17% of those who share expenses have a well-defined budget for the future.
The most common tool for tracking shared expenses is a bank app (used by 36% of respondents).
Couples are most likely to share expenses (48%), with 86% of them sharing expenses with their partner.
Those who keep all their money together prefer to keep it in a bank account, while those who keep only some money together prefer to keep cash at home.
Almost all respondents (89%) share grocery expenses, followed by utilities (83%), vacations (75%), and home maintenance (72%).
Vacations are the most common reason for saving together for all age groups.
21% of respondents who share expenses say they are unable to save.
79% manage to save money, mainly for vacations (61%), healthcare (45%), and their children's future (44%).
Those with higher incomes and education levels save more monthly, have an emergency fund (3-6 months' salary), and have investments.
Nearly 70% of respondents find the idea of opening a joint expense account appealing.
The main benefits of a joint account are managing household expenses (57%), ease of money management (52%), and paying off joint debts (43%).
The main reason preventing people from having a joint account is habit (34%).
Young people (18-29) are more likely to manage their own money and savings.
They also consult their partner less before making major purchases (52% vs. 71-74% for older people).
Key Takeaways
Many Romanians lack financial transparency and planning when sharing expenses.
Joint bank accounts and budgeting tools can help couples and families manage their finances effectively.
Financial communication and shared financial goals are important for successful relationships.
Implications for Brands
Promote financial literacy and budgeting tools for couples and families.
Offer joint bank accounts with features that cater to shared expenses management.
Develop marketing campaigns that highlight the benefits of financial transparency and shared financial goals.
Additional Information
The study was conducted by ING Bank România.
The study surveyed 1,000 Romanians who share expenses with their partner or family.
The study found that there is a need for more education and awareness about financial management among couples and families.
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