Most Romanians are satisfied with their financial decisions in 2023, Revolut survey shows

Most Romanians are satisfied with their financial decisions in 2023, and 2 out of 10 do not regret their expenditures, according to a Revolut-Dynata study, the RevReview 2023.

Six out of ten Romanians felt that their spending in 2023 was "satisfactory", stating that they generally made good decisions and were frugal with expenses.

Men are more satisfied with their financial choices than women (61% vs 55%), and likewise, older individuals over 65 years (69%). Millennials (25-34 years) have mixed feelings about their financial behavior - 44% believe they made good decisions in some cases but wasted money in others. Respondents aged 45-54 regret their 2023 expenditures the most - 6% (vs. the national average of 4%).

Romanians also believe that their greatest financial achievement this year was effectively learning how to save money (31%). For 27% of respondents, maintaining their financial status stable in 2023 is a significant accomplishment. However, 11% consider their financial situation has worsened.

Both men and women respondents aged 35-44 years (32%) say they have learned to manage their money better this year. The study shows that the Boomer generation (55-64 years) was most affected, with 18% of responses. Conversely, Generation Z (18-24 years) were the champions of saving (41%) and equally active investors (21%), according to the same study.

Regardless of how well Romanians end the year financially, there are still areas for improvement in 2024. 17% wish they had added new income sources, 13% to invest more, and 11% to improve their personal fund management skills. Women regret not saving more than men (38% vs 27%). Generation Z (18-24 years) also views saving behavior as very important (36%).

The study shows that as Romanians become more experienced and age, they become less "emotional" about money - older segments aged 65+ have fewer regrets about money management than younger ones from Generation Z (30% vs 15%). Of all age categories, the 55-64 segment is the most dissatisfied with not finding additional income sources (22%).

The same survey showed that Romanian users made nearly 289 million Revolut card payments this year. 54% of these were physical card payments made locally to merchants in Romania, indicating a predominant use of the app for routine purchases.

According to Revolut's internal data, in the first 11 complete months of 2023, an average Romanian client spent RON 1,726 per month with Revolut for various products and services. The typical Romanian user continued to prefer the physical card for payments to merchants, making 81 payments per user from January 1 to November 30, 2023. The average for transactions with virtual cards was 36 per client for the entire year. Romanian clients also generated over 2 million single-use virtual cards for various purchases.