Three out of four Romanians declare they are a little or not at all financially prepared, whih has impact on future financial prospects, according to a study made by BrandNarry and supported by the Romanian Commercial Bank, on the occasion of the World Savings Day. Moreover, the result analysis of financial education tests indicate not only a low level of knowing financial banking and economic concepts and terms, but also a low capacity of making simple mathematic calculations. 77% of participants did not exceed 50% of correct answers, while only 3.5% of respondents had a correct answer rate higher than 75%. The study pointed out that 40% of participants are not financially resilient and would not be able to ensure the same living standard as now, not even for a month in case, in an unhappy situation, they would be left without an income source. Only one out of five Romanians estimate they could preserve their present living standard for more than 6 months. The degree of financial literacy in Romania is only 8%, the lowest percentage in Europe. Over 50% of Romanians consider they are facing financial difficulties in everyday life. As for financial inclusion, most participants in the study declared they held and used a bank account (80.7%), a debit card (70%) and used online banking (70%). The survey revealed differences between gender groups concerning money. The report shows that women tend to concentrate on money handling practices, while men associate money to freedom and well being. These differences show the need for a more nuanced approach in public policies and in financial education programs which shouod take into account needs and promote a healthy and balanced relation with money for everybody.
The agency plans to expand its team and reach a turnover of EUR 450,000 by year-end. June Communications (JUNE), a business-to-business PR and integrated communications agency, has appointed Bianca Caragea as its new Operations Manager. The step strengthens the agency’s management team as it enters a new stage of growth after seven years of sustained […]
The Babeș-Bolyai University of Cluj-Napoca (UBB) has established an endowment fund, which the institution described as a "strategic" financial mechanism aimed at supporting academic excellence and ensuring the long-term sustainability of university projects. The initiative is a first of its kind in the local academia, UBB said. The endowment fund involves attracting donations/financial resources and […]
Romanian authorities are reportedly considering imposing an access fee for the Transfăgărășan mountain road. The funds would be used for setting up decent parking areas, selecting merchants, and similar initiatives. The beautiful, winding road is one of the most visited tourist attractions in the country. Local authorities say the funds from an eventual toll would […]
Colombian reggaeton superstar J Balvin will perform in Dubai for the first time this November, headlining Untold, the globally recognized festival born in Romania. The event will take place from November 6 to 9 at Dubai Parks and Resorts, featuring more than 100 international acts across five stages. The festival is staged in partnership with […]
More than 17% of Romania’s population faced severe material and social deprivation last year, which was one of the highest shares in the EU, according to the statistical bureau of the European Union - Eurostat. In 2024, 6.4% of people in the European Union faced severe material and social deprivation, a slight decrease compared to […]
The Freedom and Respect for Every Earthling association will hold the March for Animal Rights in Bucharest on October 4, to mark International Animal Day. The march will start at 11 AM at the National Theater Park, and will go on to Piața Victoriei. Organizers say they aim to bring to the forefront the suffering […]
