INTRUM AB Good financial education enables consumers to function in society and enjoy their lives without worrying about fulfilling their financial obligations. At a time when the costs of living are rising, it's crucial that people know how to spend and save wisely.
Intrum's European Consumer Payment Report 2022 found that, not only are consumers with good financial education better able to withstand the economic downturn, they also feel more optimistic about the future.
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.
Default predictions linked to educationFor example, one in two (49 per cent) with a poor financial education expects to default on a utility bill at least once in the next 12 months, compared with 29 per cent of those with good financial education.
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Intrum AB published this content on 24 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2023 08:36:05 UTC.
