According to the results of the Cofidis and CSA barometer, the purchasing power of the French has deteriorated sharply. On average, they believe they lack 490 euros per month to live decently. Young people, single-parent families and workers are the first to be affected by the situation.
To cope with the crisis, the French have already changed their consumption habits and adapted their financial strategies, even betting on consumer credit, underlines Mathieu Escarpit, Marketing Director at Cofidis. And for good reason, their purchasing power has deteriorated in 2021.
Result, on average, the French believe they lack 490 euros per month to live decently, according to the Cofidis and CSA barometer published on Thursday. A sum up by 23 euros over one year. And the rise in prices linked to galloping inflation, which will flirt with 6% by the summer, will not help matters. Young people, single-parent families and workers are the first to be affected by the situation.
Limit heating
According to the results of the study, more than 8 out of 10 French people (81%) think that they will have to restrict themselves on their essential expenses in 2022. Significant fact, over the next twelve months, 25% of French people plan to limit their heating, 23% on food and 20% on water and electricity. These items of expenditure nevertheless come after leisure, travel or culture. Nearly a third of the French (29%) also plans to postpone or give up their plans, such as holidays, work or even the purchase of a new car, also writes Cofidis.
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To pass the course, 42% of respondents plan to dip into their personal savings in order to finance their needs. 15% plan to temporarily use their bank overdraft, 8% plan to call on those around them to help them financially and 6% of French people plan to take out consumer credit.