Half of Spaniards believe their knowledge of finances is low

the Financial education This issue remains one of the outstanding issues in Spanish society. Half of Spaniards believe they have little knowledge of economics and financeAccording to the third edition of the survey International Observatory Edufin Pictet AM 2023: Becoming an investor Prepared by the director Pictet Asset Management and Finer Finance Explorer consulting firm.

This survey interviewed a sample of 1,000 people between June and July 2023 in each of these four European countries – Spain, France, Germany and the UK – and 5,000 people in Italy. Both investors (half of them with financial assets between 10,000 and 50,000 euros) and non-investors participated.

The good news is that there has been a certain interest in economics and finance since then 29% of Spanish respondents are very interested in these topics. In addition, an increasing number of people want to improve their financial education. specific, 34% of participating Spaniards want to increase their level of financial knowledge.

Why don’t they study economics and finance? Four in 10 Spanish respondents (41%) indicate this The main obstacle to studying economics and finance is the lack of contentAs it happens in other countries. The following reasons given are lack of understanding or considering it to be a complex issue.

The majority of those surveyed stated that they only spend time on finances in exceptional cases. “Savers need to be responsible. The time the average family spends on finances is mainly time at the end of the year or with the tax return. The ideal is to allocate at least an hour or two a month. “We have made a lot of progress, but there is still a lot to do,” he added. Gonzalo Rengifoboss Pictet AM For Iberia and Latin America, in the press release.

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Where do Spaniards go to learn about finance? 41% of Spanish respondents prefer social networks as a way to participate in matters related to savings and finances. The next most cited methods were digital events (19%) and television (19%), similar to participants from other countries. Only UK participants were highlighted to the press.

This social media preference number represents a significant increase from the 31% of respondents who mentioned it in 2022. What social networks do they prefer? Instant messaging service WhatsApp It stands out in all countries, although there is more confidence in it Instagram. Age also makes a difference: older people prefer Facebook and Linkedin, while younger people choose Instagram and Telegram.

This content has been prepared in accordance with editorial standards and does not constitute an investment recommendation or suggestion. Investing contains risks. Past returns do not guarantee future returns.

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