Financial health findings from social diagnosis 2013
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Presentation of the analysis of data from Social Diagnosis 2013 in respect tot he financial health of the households
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Financial health findings from social diagnosis 2013
- 1. 31 March 2015 Financial Health Results of the analysis of the Social Diagnosis 2013 data
- 2. Managing household income • Only 20% of people feel at ease with their finance • 60% are coping but live economically • 20% struggle to make ends meet
- 3. 38% 10% 10% Wehave enough money and we save for for the future Wehave enough money but wedon't save Welive economically to haveenough money for everything Managing household income 8% 12% 22% Welive very economically to save for major expenses Wecan only afford thecheapest food, rentand credit repayments Wedo not have enough money for the cheapest food, clothing, rent or credit repayment
- 4. Household income 1,000 1,500 2,000 2,500 3,000 3,500 Monthly income per capita (PLN) Surplus income over the desired income to make ends meet -1,500 -1,000 -500 0 500 We have enoughmoney andwe save for forthe future We have enoughmoney butwe don't save We live economicallyto have enough moneyfor everything We live very economicallyto save formajor expenses We can only affordthe cheapestfood, rentandcredit repayments We donot have enoughmoney forthe cheapest food, clothing, rentor credit repayment 7% 11% 26% 40% 58% 86% below social minimum
- 5. Day-to-day management • Earn more money than they need to cover living expenses • Pay bills on time • Rarely worry about the money, are satisfied with financial standing • Earn more money than they need to cover hosuehold expenses • Pay bills on time 5 Healthy • Pay bills on time • Sometimes worry about the money • Earn less than they need to cover living expenses • Fall behind on bills payment • Often worry about the money, dissatisfied with financial standing Coping Vulnerable
- 6. Resilience • Value of savings above 3 months of income • Save for emergencies • Value of savings up to 3 months of income • Save for emergencies 6 Healthy • Save for emergencies • No savings at all • Don’t save for emergencies Coping Vulnerable
- 7. Long-term outlook • Save for the old age • Save for long-term goals such as house/apartment, future of children, own business development • Don’t save for the old age 7 Healthy • Don’t save for the old age • Don’t save for long-term goals • Don’t save for the old age • Don’t save for long-term goals Coping Vulnerable
- 8. Profiles Demographics: • 25-44 years old • Men • Married with children or without • Living in towns or cities • Education above the college level 8 Healthy • Education above the college level • With a salaried job or own business Values an attitudes: • Believe in education and hard work as a means to successful life • Believe that everybody is an architect of their own fortune • Rarely go to church Coping Vulnerable
- 9. Profiles Demographics: • 60+ years old • Married with children and households with several families living together • Living in small towns or villages • College education 9 Healthy • College education • Pension as a main source of income Values an attitudes: • Admire rich people but do not consider money as a means to successful life • Believe that providence/god are the condition of successful life • Frequently go to church Coping Vulnerable
- 10. Profiles Demographics: • Below 25 years old and 45-59 • Women • Singles, separated, widowed, incomplete families, • Living in medium towns or villages • Education below college level 10 Healthy • Education below college level • Social assistance beneficiaries, unemployed, inactive, temporary jobs Values an attitudes: • Admire rich people • Believe that having a job and money is necessary for successful life • Don’t go to church Coping Vulnerable
- 11. Financial services use No differences in the ownership of the bank account Healthy • Use debit cards, credit cards, overdrafts, internet banking • Have deposit account • Don’t use credit, but if they do they use banks Coping 11 Coping • Transact at the post office or in a bank branch • Don’t use credit, but if they do they use banks Vulnerable • Transact at the post office, pay bills at the supermarket or directly in the provider’s outlet • Use credit – from private persons, non-banks or instalment credit
- 12. Microfinance Centre ul. Noakowskiego 10/38 00-666 Warsaw, Poland www.metlife.org Tel/fax.+48 22 622 34 65 microfinance@mfc.org.pl www.mfc.org.pl Thank you!