42% of French People Let Their Money Sit Idle: Survey Reveals the Reasons

Convertir votre argent : les meilleures stratégies pour 2023<br>

The survey identifies several factors explaining financial inaction. Caution is the first. Fifty-four percent of French people keep their available money « just in case, » with this proportion reaching 64% among those aged 65 and over and in rural communities, compared to 48% in cities with more than 100,000 inhabitants. Among the obstacles mentioned, 43% of the French cite at least one psychological or relational barrier: fear of losing money (23%), anxiety about making the wrong choice (16%), and mistrust of financial actors (15%). A lack of knowledge (13%), difficulty in comparing offers (10%), and complexity of information (9%) round out this overview.
Households earning less than €2,000 per month are significantly more affected, with 51% citing these barriers compared to 37% of those earning more than €3,500. On an emotional level, only 27% of French people approach saving with motivation. More than half of women experience mixed or negative emotions about investments, compared to 42% of men.

Shifting Paradigms: AI and Finfluencers Compete with Banking Advisors

Among 18-24 year-olds, artificial intelligence now rivals a bank advisor as the primary financial point of contact, with 18% and 20%, respectively. Another finding: 16% of this age group would turn primarily to social media and content creators for managing their savings, compared to just 1% of those aged 50 and over.
The study further highlights a distinct social paradox: 31% of French individuals earning less than €2,000 per month have consulted financial influencers for advice, versus 16% of those with incomes above €3,500. Overall, 56% of 18-24 year-olds have already consulted financial influencers (with 13% doing so regularly), while 74% of those aged 65 and over view them with skepticism.

This brings financial education to the forefront: 8 out of 10 respondents believe that financial literacy should not be an individual responsibility alone, with one-third even wishing for it to be integrated into the school curriculum.