26% of Portuguese consumers do not control their household budget at all, notes a study on the level of financial literacy, which Cetelem has just launched, as part of Consumer Day. This is a higher percentage than last year (20%).
For most Portuguese, control of the family budget is limited to consulting the bank statement (57%).
Compared to recent years, there are now fewer Portuguese people claiming to manage their family budget. Currently, 65% of consumers claim to control earnings and expenses, when, in 2015, they were 76% and, in 2014, they even reached 96%.
The Cetelem study also reveals that, when asked about how they manage the budget, the majority of Portuguese (57%) claim to regularly consult their bank statement. This has been the preferred control method by consumers in recent years: 61% in 2015 and 70% in 2014.
The Portuguese who seek other forms of budget management, in addition to consulting the bank statement, are still a minority. Only 4% of respondents claim to have a spending control table and only 3% claim to have help from an account manager. These percentages are slightly below those registered last year (7%).
The use of tools check up financial remains residual, as the percentage of respondents who claim to use this method does not even reach 1%.
“The Portuguese are controlling their budget less, a sign that they have regained some confidence in recent years. However, it is important to continue to make consumers aware of the importance of family budget management, as a way to forecast expenses, maintain some liquidity and make savings», explains Diogo Lopes Pereira, marketing director at Cetelem.
The Cetelem study on Financial Literacy was carried out between the 16th and 19th of February, in collaboration with Nielsen, through 500 telephone interviews with Portuguese people of both sexes, aged between 18 and 65, residing in Portugal . The maximum error is +4.4 for a 95% confidence interval.
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