On the occasion of the press conference of 20 November 2018 at the Openmind Kfé, Jean-Marie Bellafiore, Director – Deputy Chief Executive Officer and Chief Executive Officer BNP Paribas Personal Finance France, Cécile Gauffriau, Director of Echangeur and Barbara Blanc, Director Products Services and Markets France, presented the results of a study on the theme of “budget management of the French”.
Through the results of the last wave of its proprietary survey, the Access Panel (*), Echangeur by BNP Paribas Personal Finance decrypts the evolution of the budget management of the French over the last 6 years.
The study sheds light on how consumer credit goes hand in hand with savings to drive scalable and constrained consumption. At the heart of this management, the constant use of cash facilities testifies to a need for flexibility on a daily basis. If the use of overdraft does not involve active management, the use of revolving credit provides a framework conducive to budget management.
The 3 major lessons of this conference:
Half of French households do not feel comfortable with their income. With the evolution of more or less constrained loads (rents, taxes, fuel …) the financial balance of the households is weakened.
The French arbitrate their finances to better manage their lives. Credit and savings are not antinomic in this management. Credit, let alone the facilities of cash, allows to cross moments of life impacting the balance of expenses.
Unlike bank overdraft, revolving credit accompanies homes in their daily lives and provides a framework conducive to budget management. The French plebiscite moreover the renewable via payment cards.