November 29, 2020

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Additional concern for money in the corona crisis Money

Additional concern for money in the corona crisis Money

“We’ve been watching Dutch people’s financial fears for a year or two, and they’ve eased due to the corona crisis,” said Marieke Commandeur, director of the Expertise Center for Financial Resilience at SNS Bank, who conducted the study. “People feel less in control.”

Mental calm

Most people who worry about financial matters fear job loss. It may also mean that more than a third of respondents say they would prefer to postpone changing jobs or buying a home until the pandemic is under control. Once someone has more savings, there is less worry. “A buffer gives peace of mind,” says Commandeur.

During the corona crisis, more people came to the bank to discuss their financial problems, Commandeur says. “People believe that the corona pandemic is really an external factor, something that happened to all of us. The threshold for asking for help seems lower. That is a glimmer of hope. “

stress

Among other things, small business owners knocked on the door of the bank or people who could no longer pay their mortgage due to job loss. “But we also have financial advisors who can deal with income and expenses. This can already ensure that you get a better grip on your financial affairs and avoid stress. Because that in turn often means that only short-term attention is paid and less sensible decisions are made. “

For young people who have less financial security due to fixed-term contracts and a student loan, talking to a professional about finance can be very beneficial. They are most likely to suffer. No less than 82% of Dutch people under 35 are worried, compared to just 41% of those over 55.