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National Consumer Agency
Market Research Findings:Financial Planning and Money Resolutions for 2012
January 2012Research Conducted by
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Key Findings
Financial Planning and Money Resolutions for 2012
Research Background and Methodology
Profile of Sample
Table of Contents
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Key Findings
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Key Findings
• Personal Finance Review:• A fifth (21%) of consumers never review their personal finances
• Nearly 3 in 10 (27%) review finances monthly, with a further 11% reviewing weekly
• 3 in 4 (75%) plan on carrying out a review of personal finances in the new year
• The number one money resolution for 2012 is “to budget better” as cited by 35%, followed by “to save more”, at 23%
• Biggest financial worries for 2012:
• “not having enough money to meet day to day expenses” (28%)
• “not being able to meet unexpected expenses” (20%)
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Financial Planning and Money Resolutions for 2012
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Financial Planning
Every week
Every 6 months
Once a year – at another timeLess often
Every month
Frequency of Reviewing Personal Finances
%
1 in 5 (21%) never review their personal finances. Over 1 in 4 (27%) claim to review their personal finances every month while 1 in 10 (11%) claim to do so every week.
(Base: All aged 15-74 – 1,000)
Never
11
12
1071
11
21
27
Every 3 months
Once a year – at the start
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42
36
37
34
35
35
39
32
30
15
6
6
4
9
11
3
4
5
7
8
Plans for the Year Ahead
Leading a healthier lifestyle
Carrying out a review of my personal finances
Having a better work/life balance
Getting fit/losing weight
Giving more time to community activities/work
Not at allImportant
Not veryImportant
FairlyImportant
VeryImportant Neither/
NorMeanScore
14 4.0
15 4.0
22 3.9
20 3.7
31 3.4
Over 3 in 4 (77%) plan to lead a healthier lifestyle in 2012. A similar proportion (75%) indicated that they will carry out a review of their personal finances.
(Base: All aged 15-74 – 1,000)
%
(77)
(75)
(69)
(64)
(50)
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Money Resolutions for 2012
To budget better
To save more
Reduce my debts
Shop around for everything
Keep up to date with my repayments on my mortgage
Other #
#All other mentions 1% or less
35
23
17
15
3
9
33
22
17
19
6
(Base: All aged 15-74 – 1,000)
No. 1 money resolution for 2012
%
The number one money resolution for 2012
remains to budget better – as mentioned by over 1
in 3 (35%).
–
Nov 2011Nov/Dec 2010
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Money Concerns for 2012
28
20
17
13
11
4
7
32
23
17
10
10
5
3
Not having enough money to meet my day to day expenses
Not being able to meet unexpected expenses
Not being able to save money for future needs
I feel financially secure and have no worries
Losing my job
Getting deeper into debt
Other #
# All other mentions 1% or less
(Base: All aged 15-74 – 1,000)
%
Consistent with the same period last year, the
biggest financial worry for 2012 is not having
enough money to meet day to day expenses
(28%).
Biggest financial worry for 2012
Nov 2011Nov/Dec 2010
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Research Background and Methodology
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The research was conducted by means of face-to-face interviewing with 1,000 people between the ages of 15-74.
To ensure that the data is nationally representative, quotas were applied on the basis of age, gender and social class.
Interviewing was conducted over a four week period in November 2011.
Research Background and Methodology
Nov/Dec 2007
Aug 2008Nov/Dec
2008
Nov/Dec 2009 June 2010Nov/December
2010
Benchmark
Wave 4 Wave 5
Wave 1 Wave 2
Wave 6
May/June 2011
Wave 7
May/June 2009
Wave 3
Nov 2011
Wave 8
Current Wave
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1728
4822
52
19
2816
1826
49
26
51
SEX AGE REGION SOCIAL CLASS
Profile of Sample
(Base: All aged 15-74 – 1,000)
Male
Female
% % % %
15-24
25-34
35-44
45-54
55+
Dublin
Rest of Leinster
Munster
Conn/ Ulster
ABC1 F50+
C2DEF50-
MAIN GROCERY SHOPPER
Yes No47%53%