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.
President Klaus Iohannis is to hold consultations with the parliamentary parties on nominating a candidate for the prime minister job on Sunday, December 22, the Presidential Administration announced. The president, whose mandate has been extended after the
Step into 2025 with music, excitement, and unforgettable performances! New Year’s Eve at JW Marriott Bucharest Grand Hotel is not just a celebration – it’s a grand spectacle where world-class entertainment, live music, and vibrant energy come together for a night to remember. This year, we’ve curated a sensational lineup of artists and performers to […]
The Bucharest Police recently announced that the city will host several commemorative ceremonies marking 35 years since the Romanian Revolution of December 1989, causing traffic restrictions around the city. The restrictions will be in place from Friday to Sunday, December 20-22, 2024. On Friday, December 20, at around 10:00 AM, a religious/military ceremony with wreath-laying […]
Alex Florența, the General Prosecutor of Romania, said on Friday, December 20, that harsher punishments are needed to combat incitement to violence and Legionnaire propaganda (related to Mișcarea Legionară, a Romanian interwar fascist movement) in public spaces effectively. To that end, the office of the General Prosecutor will propose new measures to combat such phenomena. However, […]
Dennis Lloyd, Inna, Damian & Brothers, and Killa Fonic are among the artists who will perform at Flight Festival 2025. The festival is scheduled to take place between June 20 and June 22 at Timișoara’s Banat Village Museum. For three days, the venue “will open its doors for an experience that combines music, nature, and […]
Around 67% of Romanians believe that the economic situation will worsen, 7% higher than the previous year, according to the EY Consumer Index Romania 2024. Findings suggest a challenging start of 2025 both economically and politically in Romania. Additionally, in 2024, more than half of respondents (59%) were extremely concerned about conflicts and external wars. […]
