Manage a budget? What for?
To the question “Do you manage a budget for your household?” », only 42% of the citizens living in the Grand-Duchy and having the Luxembourg nationality answer positively, against 72% for foreign residents and 67% for the citizens of the other countries covered by the survey. These figures clearly indicate that a majority of Luxembourgers do not see the need to strictly control the monthly spendings of their household, feeling probably less impacted by the crisis than their neighbours.

A superior savings capacity for the Grand-Duchy
Following the question whether they regularly put some money aside, nearly 70% of Luxembourg residents confirm doing so, against 53% only for the citizens of other European countries.
For their pension, more than 50% of Luxembourg residents declare that they are preparing themselves to it by saving money, against 38% only for the citizens of the other European countries.
As far as housing is concerned, more than 60% of Luxembourgers also declare that they are building wealth by buying it, against 38% only in the other countries.

It is more complex to manage one’s personal finances now than 10 years ago
Finally, to the question to know whether managing one’s personal finances is more complex now than 10 years ago, more than 50% of the residents confirm this (58%), against (67%) for those living in other European countries.
Moreover, only 8% of Luxembourgers (against 16% for the European average) declare that they regularly argue about money, which could indicate that money is generally less a source of problems in the Grand-Duchy than in any other country in Europe.

For consumers, financial education is important because it helps them to manage their finances by making informed choices, thanks to good trainings and reliable quality information!

“For ING, financial information is key, especially in this crisis period. We strive to put at the disposal of our clients all the tools that will allow them to efficiently manage their finances, for their private or business related needs. If you have any question, the doors of our branches are open, our advisors are there to help you!”, explains Pierre Knoden, Head of Retail Banking ING Luxembourg.