Money is one of the main concerns of the French. But with time, societal changes and new generations, Bad, French leader in online savings, wanted to know how this relationship is evolving and what place money will take in 2023.
If 52% of French people think that money brings happiness (38% totally and 14% moderately), not all generations have the same opinion on the issue. Indeed, while the most senior people mostly take the expression as true (68% of baby boomers and 61% of generation X), younger generations find it totally false (66% for Generation Z and 54% for Generation Y). Each generation has its own view of money. So, for people born between 1996 and 2010 (generation Z) money is associated with professional success. For millennials on the other hand, it is personal success that money echoes, while people between 42 and 57 years old (generation) associate money with comfort and well-being. Finally, for French people aged over 57, money is above all a guarantee of a certain quality of life.
Millennials and boomers more bling-bling
Beautiful cars, big jewelry, a lot of material goods... This is what most symbolizes wealth for more than 34% of generation Y and 39% of boomers. For Generation Z, be rich, it’s first of all having a lot of leisure, or take trips, for more than 36% of respondents. Much more pragmatic, people from Generation X believe that fortune rhymes with financial products, like investments, booklets, savings accounts, etc.
Riche, but not at any price
An essential notion brings together all generations. More than 58% of French people are not at all ready to do anything for the sole purpose of becoming rich. Only 4% say they are willing to do anything to achieve wealth..
A fairly present fear
To the question “are you afraid of never being “rich”? ? », 67% of French people answer “yes”. For this reason, 43% are moderately afraid of never being rich and 24% really fear it.
What does “being rich” mean? ?
Not everyone has the same definition or perception of wealth. So, for 71% of Generation Z, 55% of millennials and 41% of Generation X, wealth comes when you no longer have to worry about money. On the other hand, for 39% of baby boomers, to be fortunate, it's having a nice sum of money aside, quite simply.
Who says wealth, says savings
On this point, the French remain very consensual. Pour 46 %, real estate investments are the first source of savings to be considered “rich”. Second choice, 19% favor stock market investments, then in third position life insurance contracts (12 %).
METHODOLOGY
Survey carried out among 1,458 people representative of the French national population aged 18 and over. Survey carried out online from the panel of BuzzPress respondents (27,000 people in France) between March 27 and 31, 2023.
