Credit repurchase: what is the relationship of the French to money and banks?
Ah money! Sometimes it burns your fingers. Sometimes we keep it warm under the mattress. But it all depends on the relationship we have with. This is the question that the Best Bank tried to answer in a recent study, by trying to define the role that the bank will be able to play tomorrow for the economies of the French.
A major concern
Money is a real concern for those polled, who see it more and more as a security (44% in 2017 against 34% in 2012, or 10 points more). For the wealthiest, people who earn more than 5000 USD per month, this concept is not the same since they consider it a freedom (52%). Conversely, only 31% of respondents who earn less than 1000 USD per month share this concept and, in fact, 69% feel restricted by low income. Which seems rather logical.
And to the rather philosophical question: would you like to earn more money or have more time? “Three quarters would like to have more against only 1 quarter who would prefer to have more time,” observes the study. As the saying goes: time is money?
What about the bank?
What role for banks once these findings have been established? The majority of French people feel autonomous in managing their budget. And this, in particular thanks to the information tools made available by the banks. “77% French people feel well informed about the services offered by their bank.” While 95% of those questioned consider it easy to follow their current account, the other banking products require specific support with a specialist adviser.
They are only 12% to be well informed about the investment offers and 14% on the profitability of these. This proves that a large part of the French do not master the subject.
The times when bankers find their place in the lives of households, are precisely during the changes. Positive such as a marriage, the acquisition of real estate with a loan or the creation of a business. But also more unpleasant such as a divorce, an inheritance or the loss of a job.
What emerges from this study is therefore that the banker’s council remains at the heart of French expectations. Even if they can do it alone on a daily basis, when making the most important choices, the advisor remains the point of contact.
Credit repurchase: a way to balance your budget
When the credits accumulate, it is sometimes difficult to manage your budget as well as possible. Several consumer loans to be reimbursed, sometimes a mortgage, tax delays, etc. As many debts as it is possible to combine into one credit. This financial transaction is called the repurchase of credit. A loan broker like Cream Bank can allow you to compare offers from banks to get the one best suited to your situation.
The repurchase of credit notably makes it possible to pay only one monthly payment with a single rate. In addition, one of the objectives is to reduce the borrower’s debt ratio so that the latter can regain financial stability or embark on a new project. Do not hesitate to consult our guide dedicated to refinancing.