Only 40% of Romanians have a financial plan for next 12 months, study says

Only 40% of Romanians have a financial plan for the next 12 months, according to the first national study evaluating the impact of a financial education program.

The study was launched by Banometru, a free financial education program developed by the Education for Real Life Association (AEVR) with the support of ING Bank Romania.

One of the study’s most important findings related to financial planning, one of the key indicators of financial health. Among the general population, only 40% of respondents said they have a financial plan for the next 12 months.

Only 43% of Romanians follow a budget at least to some extent. At the same time, 56% of them say they have money left over at the end of the month. Finally, only 42% of Romanians save for long-term goals.

The data showed that preparing for unexpected expenses and building a financial reserve continue to pose significant challenges.

The results suggested that financial education helps people link today’s decisions to their long- term goals: managing their expenses and saving regularly, maintaining financial stability from month to month, and, over time, building an emergency fund or a financial retirement plan. People who have a better understanding of money take steps to increase their income.

Launched in 2016 to support people facing financial difficulties and debt-related problems, Banometru has evolved into a comprehensive financial wellness program that combines one- on-one coaching sessions, financial education, practical tools, and community support.

Over its 10 years of operation, Banometru has reached approximately 350,000 participants, provided 15,569 hours of financial coaching, and served as the first exposure to financial education for 70% of its beneficiaries. Between 2021 and 2026, participants reported mobilizing over RON 8.18 million: RON 3.86 million in repaid debt, RON 2.49 million in savings, and RON 1.84 million in additional income.

“Simply reading or hearing about what you should do is, unfortunately, not enough. For us, the most important conclusion is that change happens when you respect each person’s pace and their own idea of what’s best for them. Change is seen in everyday actions,” said Corneliu Ionescu, president and founder of AEVR and the initiator of Banometru.

The study “Banometer—10 Years. In Your Financial Shoes” was conducted by Claudia Petrescu, Research Scientist at the Institute for Quality of Life Research of the Romanian Academy, and Raluca Șandru, a professor at the Faculty of Business at Babeș-Bolyai University, with contributions from Silvia Mișu, Director of Development and Innovation at AEVR.

The study uses OECD/INFE indicators and methodological benchmarks and compares three groups: individuals who participated in the Banometru program at least 12 months before the survey, individuals entering the program before accessing its services, and a comparison group from the general population, representative by gender, age group, and region, composed of individuals who have not participated in financial education programs.