Money can not buy happiness. And yet… For more than one in three French people, if. In any case, this is what the barometer conducted by the Society and Consumption Observatory (ObSoCo) reveals for the online bank BforBank. In this study on the French people’s relationship with money, published on March 29, 2024, we learn that 76% of respondents – a sample of 2,000 people representative of the population, aged 18 to 75 – believe that their situation financial contribution directly to their well-being. And unfortunately, even more so in this period of inflation, six out of ten French people currently say they are dissatisfied with their financial condition.
Two thirds say they regularly think about money, which even constitutes a source of stress for 28% of them. This is even more the case among single-parent families. Because we know: money plays an important role in the realization of certain future projects, and can therefore constitute an obstacle to carrying out, for example, renovation work, as is the case for 70% of respondents, or to changing cars or jobs. And while raising a child would cost around 750 euros per month, 39% of French people take their financial situation into account before considering the arrival of a new member in the family.
What is the ideal budget to finally achieve “financial well-being”?
But how to achieve this famous “financial well-being”? For the most part, 93% of those surveyed, it’s mainly about having a regular income every month. “Financial well-being obviously covers different dimensions depending on individuals and personal situations. Nevertheless, the study reveals that it is above all linked to a feeling of control: the regularity of one’s income, the ability to cope with unforeseen events, more than a question of income level., explains Agnès Crozet, the deputy general director of ObSoCo. Moreover, this barometer also reveals what would be the ideal income supplement: 897 additional euros each monththat’s who would allow the French to achieve a certain financial well-being. Of course, this amount changes according to “the cycle of life” : it is therefore proportional to the current income level, and increases with age. Those aged 55-64 estimate that they would need 1,014 euros more, while families with children would need 1,077 euros.