Luxembourg residents feel they have a handle on their finances – even more so than most Europeans. They feel prepared to meet their financial wants and needs both now and in the future. One in two people in Luxembourg (48%) describe their financial situation as “very good”, compared with a European average of 35%.

The best way to test a household’s financial health is its ability to handle unexpected payments. A total of 41% of the survey’s European participants feel prepared to do just that. Luxembourg also scored better in this category with 65%, ranking second after the Netherlands (69%).

When it comes to longer-term decisions – like investments or pension plans – fewer Luxembourg survey participants consider them difficult to make (19% and 16%, respectively) compared with participants from other European countries (29% and 20% respectively).

Making important financial decisions seems to be a difficult task in all countries, but this difficulty is felt more in some countries than in others. A total of 41% of survey participants expressed difficulty, and Luxembourg’s score is near the European average (38%).

To improve money management, nothing beats a financial education!  Three out of four Europeans (and 74% of Luxembourgers) feel that it is more important for young people today to learn how to manage their finances than it was for their parents’ generation.

Lastly, one in two Europeans do not expect to receive help from their bank when making a financial decision. If you break it down by country, Luxembourg scored the lowest (35%) and the United Kingdom scored the highest (62%). In other words, most Luxembourg residents do expect help from their bank when it comes to making important financial decisions.

Further details on eZonomics.com: http://www.ezonomics.com/ing_international_survey/think_forward_initiative_-_financial_behaviour_unveiled