SAVING, BORROWING
AND PAYING IN
FINLAND
2012
Spring
SURVEY
Coverage
2,393 (aged 15 to 74)
Sample is large enough to be reliable
Representative random sample, Finland in miniature
Time of interviews:
January-February 2012, one year after previous survey
Interviewed by:
IRO Research Oy
© Federation of Finnish Financial Services
CURRENT FINANCIAL SITUATION
Which of the following statements describes your financial situation?
% of respondents (2 393 in 2012)
© Federation of Finnish Financial Services
SAVINGS AND INVESTMENT
Do you hold savings or investments at the moment? ”YES”
© Federation of Finnish Financial Services
SAVINGS AND INVESTMENT VEHICLES
Which of the following vehicles do you hold?
© Federation of Finnish Financial Services
SAVING AND INVESTMENT CRITERIA
How much was your choice of savings or investment vehicle impacted by the following
factors?
% of respondents (2.393 in 2012)
Security
Free of risk
Return
Ethical
aspects,
responsibility
76
72
72
72
70
2008
2009
2010
2011
2012
62
60
60
62
60
2008
2009
2010
2011
2012
2008
2009
2010
2011
2012
2010
2011
2012
Ecological
aspects
2010
2011
2012
Provision for
retirement
2009
2010
2011
2012
20
22
23
21
24
44
44
43
39
31
30
32
29
32
51
43
45
43
46
30
25
29
48
26
21
24
29
28
24
25
0%
38
37
20%
Very much
© Federation of Finnish Financial Services
20
23
22
48
22
27
25
Somewhat
31
32
36
36
60%
Not at all
2
2
1
2
1
8 2
11
2
10 1
12
2
14
1
48
37
39
40%
5
8
7
8
8
39
50
50
49
31
4 2
41
5 2
5 1
80%
2
3
1
2
2
1
2
1
2
1
100%
Cannot say
CREDIT SITUATION
Do you hold a loan or credit at the moment?
% of respondents (n=2,393 in 2012)
© Federation of Finnish Financial Services
BORROWING PLANS
Are you planning to take a new loan or credit during the next 12 months? ”YES”
% of respondents (n=2,393 in 2012)
© Federation of Finnish Financial Services
HOUSING LOAN REPAYMENT PERIOD, 2012
What was the original repayment period of your housing loan?
% of housing loans taken during the last two years (n=235 in 2012)
© Federation of Finnish Financial Services
AVERAGE HOME LOANS
How big is your home loan at the moment?
€
Respondents who currently have a home loan (n=755 in 2012)
© Federation of Finnish Financial Services
HOW MUCH OF HOME PURCHASE IS FINANCED
WITH LOAN, BROKEN DOWN BY LOAN SIZE
"Roughly how many percent of your home purchase was financed with loan?"
% of respondents who had raised the loan within 2 years (n=235 in 2012)
2007
71
2008
72
2009
76
2010
74
2011
71
2012
73
Less than €40,000
58
€40,001-60,000
64
€60,001-100,000
75
€100,001-150,000
78
More than €150,000
81
0
© Federation of Finnish Financial Services
20
40
60
80
100
RATIO OF DEBT SERVICE COSTS TO DISPOSABLE
INCOME
Approximately, how many percent of your monthly net income is used for installments and interest on loans?
%, covers those who have loan of any kind (n=1275 in 2012) or housing loan (n=755 in 2012)
© Federation of Finnish Financial Services
CHANGES IN REPAYMENT PLANS
"Have you repaid the loans according to the original plan or have you made changes to the original repayment plan?"
% of respondents (n=1,275 in 2012)
© Federation of Finnish Financial Services
RISK FACTORS IN PERSONAL FINANCES
Which of the following risk factors do you see as a threat to your financial situation?
% of respondents (n=2393 in 2012)
© Federation of Finnish Financial Services
RISKS AFFECTING HOME LOANS
What risks do you think may affect your housing loan?
% of those who see risks that may affect their housing loans
(n=104 in 2012)
© Federation of Finnish Financial Services
LOANS COVERED BY LOANS INSURANCE
Are any of your loans covered by payment protection insurance which secures repayment of the loan?
% of respondents who have a loan (n=1275 in 2012) or housing loan (n=755 in 2012)
© Federation of Finnish Financial Services
INTEREST RATE CAP
Do you have an interest rate cap on your loan to ensure interest payments stay within agreed limit?
© Federation of Finnish Financial Services
PREPARING FOR INTEREST RATE RISES
Are you prepared for possible interest rate rises which would raise the cost of servicing your housing loan?
% of respondents who have a housing loan (n=755 in 2012)
© Federation of Finnish Financial Services
USE OF INTERNET
% of respondents (n=2393 in 2012)
%
© Federation of Finnish Financial Services
TYPICAL WAYS OF PAYING BILLS
What is the most typical way you pay your bills?
of respondents (2393 in 2012)
© Federation of Finnish Financial Services
RECEIVING BILLS ELECTRONICALLY
Do you receive e-bills to your online banking site?
% of those who pay bills on the web
© Federation of Finnish Financial Services
APPROACH TO ELECTRONIC BILLING
Would you like to get e-bills to your online banking site?
Of those who pay bills online but do not receive e-bills (1362 in 2012)
© Federation of Finnish Financial Services
AWARENESS OF ELECTRONIC BILLING
Do you know what an electronic bill is?
Of respondents (2393 in 2012)
© Federation of Finnish Financial Services
PAYING FOR DAILY SHOPPING
How do you pay your daily shopping normally?
of respondents (2393 in 2012)
© Federation of Finnish Financial Services