Frich Insights: Future Plans📈

Let's talk about future plans! What are people planning for? How much are they saving? What do they want to achieve financially? Look no further⬇️

If you ask Frichies - the economy is boooooming! Two thirds of you said that money makes you feel confident & empowered. Heck yeaaaa!

For the rest of you that feel like you're in need of some guidance, make sure to subscribe to our newsletter where we cover money topics from every single angle imaginable. See you in your inbox!💌

Let's keep the good vibes going. Imagine you get a large sum of money. What do you do? Who do you ask for help? Do you already have an idea where you'd want the money to go?

Well, here's what everyone else is saying: 29% would ask a financial advisor for help, 15% would rely on their family members, 8% would ask your bank for support, 23% would search for advice online (proceed with caution!!!!!!!!) and 25% already know what they'd do with the money.

Let us offer a small piece of advice - if we're talking about truly large sums of money, it could be worth speaking to a professional. It doesn't really matter who you choose but try to speak to a couple of different people instead of relying on one source of information. We would also heavily caution you against relying soleley on information you can find online (yes, we realize how ironic this sounds coming from us). And even though you might already have a projection on an Excel sheet of how winning the lottery will turn you into the next multi-billionaire, do consider fact checking what you already have in mind :)

Curious if the people around you are on the same path as you are? Well, you know we have the answer to that 😉 These are the next big money moves for the people around you: 29% are currently building their emergency fund (here's our fav free emergency fund planner); 13% are focusing on paying off education debt; 21% are saving up for their future home; and 17% are saving up for a car. For the 21% of you that said you haven't started saving yet - our recommendation is to start with an emergency fund. Trust us, you'll be thankful you have one.