SAVING, BORROWING AND PAYING IN FINLAND Spring 2012.

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Presentation transcript:

SAVING, BORROWING AND PAYING IN FINLAND Spring 2012

SURVEY © Federation of Finnish Financial Services Coverage 2,393 ( aged 15 to 74 ) Sample is large enough to be reliable Representative random sample, Finland in miniature Time of interviews: January-February 2012, one year after previous survey Interviewed by: IRO Research Oy

CURRENT FINANCIAL SITUATION Which of the following statements describes your financial situation? © Federation of Finnish Financial Services % of respondents (2 393 in 2012)

SAVINGS AND INVESTMENT Do you hold savings or investments at the moment? ”YES” © Federation of Finnish Financial Services

SAVINGS AND INVESTMENT VEHICLES Which of the following vehicles do you hold? © Federation of Finnish Financial Services

SAVING AND INVESTMENT CRITERIA © Federation of Finnish Financial Services % of respondents (2.393 in 2012) How much was your choice of savings or investment vehicle impacted by the following factors?

CREDIT SITUATION % of respondents (n=2,393 in 2012) Do you hold a loan or credit at the moment? © Federation of Finnish Financial Services

BORROWING PLANS Are you planning to take a new loan or credit during the next 12 months? ”YES” % of respondents (n=2,393 in 2012) © Federation of Finnish Financial Services

HOUSING LOAN REPAYMENT PERIOD, 2012 What was the original repayment period of your housing loan? % of housing loans taken during the last two years (n=235 in 2012) © Federation of Finnish Financial Services

AVERAGE HOME LOANS Respondents who currently have a home loan (n=755 in 2012) € How big is your home loan at the moment? © Federation of Finnish Financial Services

HOW MUCH OF HOME PURCHASE IS FINANCED WITH LOAN, BROKEN DOWN BY LOAN SIZE "Roughly how many percent of your home purchase was financed with loan?" © Federation of Finnish Financial Services

RATIO OF DEBT SERVICE COSTS TO DISPOSABLE INCOME Approximately, how many percent of your monthly net income is used for installments and interest on loans? %, covers those who have loan of any kind (n=1275 in 2012) or housing loan (n=755 in 2012) © Federation of Finnish Financial Services

CHANGES IN REPAYMENT PLANS % of respondents (n=1,275 in 2012) "Have you repaid the loans according to the original plan or have you made changes to the original repayment plan?" © Federation of Finnish Financial Services

RISK FACTORS IN PERSONAL FINANCES Which of the following risk factors do you see as a threat to your financial situation ? % of respondents (n=2393 in 2012) © Federation of Finnish Financial Services

RISKS AFFECTING HOME LOANS What risks do you think may affect your housing loan? % of those who see risks that may affect their housing loans (n=104 in 2012) © Federation of Finnish Financial Services

LOANS COVERED BY LOANS INSURANCE Are any of your loans covered by payment protection insurance which secures repayment of the loan? % of respondents who have a loan (n=1275 in 2012) or housing loan (n=755 in 2012) © Federation of Finnish Financial Services

INTEREST RATE CAP Do you have an interest rate cap on your loan to ensure interest payments stay within agreed limit? © Federation of Finnish Financial Services

PREPARING FOR INTEREST RATE RISES Are you prepared for possible interest rate rises which would raise the cost of servicing your housing loan? % of respondents who have a housing loan (n=755 in 2012) © Federation of Finnish Financial Services

USE OF INTERNET © Federation of Finnish Financial Services % of respondents (n=2393 in 2012) %

TYPICAL WAYS OF PAYING BILLS © Federation of Finnish Financial Services of respondents (2393 in 2012) What is the most typical way you pay your bills?

RECEIVING BILLS ELECTRONICALLY % of those who pay bills on the web Do you receive e-bills to your online banking site? © Federation of Finnish Financial Services

APPROACH TO ELECTRONIC BILLING Would you like to get e-bills to your online banking site? Of those who pay bills online but do not receive e-bills (1362 in 2012) © Federation of Finnish Financial Services

AWARENESS OF ELECTRONIC BILLING Do you know what an electronic bill is? Of respondents (2393 in 2012) © Federation of Finnish Financial Services

PAYING FOR DAILY SHOPPING How do you pay your daily shopping normally? of respondents (2393 in 2012) © Federation of Finnish Financial Services