77 69872 FINANCIAL LITERACY SURVEY Report on the Key Findings of the Survey Prepared for the World Bank June 2010 Sofia, Bulgaria 54 Iskar Str., 1000 Sofia, Bulgaria phone/fax: [+ 359 2] 983 60 67 phone/fax: [+ 359 2] 9869075 e-mail: headoffice@aresearch.org http://www.aresearch.org 1 CONTENTS INTRODUCTION ........................................................................................................................ 4 I. PART ONE: METHODOLOGICAL REPORT........................................................................ 5 1. METHODOLOGICAL APPROACH AND RELEVANT ACTIONS................................. 5 1.1 Preparation of the survey questionnaire.......................................................................... 5 1.2 Definition of sample size and sample frame................................................................... 5 1.3 Implementation of the sampling procedure .................................................................... 5 1.4 Development of training materials, delivery of trainings for supervisors and interviewers. Conducting a pilot survey. .............................................................................. 6 1.5 Fieldwork/Interviewing process...................................................................................... 6 1.6 Quality control and logic check ...................................................................................... 6 1.7 Creation of the required software and instructions for data entering. Entering and ....... 6 1.8 Preparation of Preliminary Technical Report. ................................................................ 7 1.9 Preparation of Key Findings Report and Presentation of the survey results (power point format) for the Dissemination Workshop. ............................................................................ 7 2. SOCIO-DEMOGRAPHIC STRUCTURE OF THE SAMPLE............................................ 8 II. PART TWO: ANALYSIS OF THE SURVEY RESULTS ................................................... 10 1. LEVEL OF CONFIDENCE IN THE FINANCIAL SECTOR........................................... 10 1.1. Confidence in the public institutions related with the financial sector........................ 10 1.2.Confidence in private financial institutions and expectations to the development of the financial markets................................................................................................................. 12 1.3. Dynamics of the confidence to the main financial institutions and expectations for their development................................................................................................................ 15 1.4. Confidence in the reaction of the institutions to emerging problems in the use of financial services................................................................................................................. 16 2. AWARENESS AND CONSUMER RIGHTS IN THE USE OF FINANCIAL PRODUCTS ................................................................................................................................................. 18 2.1. Sources of information................................................................................................. 18 2.2.Interest in financial information.................................................................................... 21 2.3. Intensity of the communication on financial matters................................................... 24 3. FINANCIAL LITERACY .................................................................................................. 26 3.1. Self-assessment of the financial literacy...................................................................... 26 3.2. Objective assessment of the financial literacy of the Bulgarian citizens..................... 27 3.3. Attitudes to the financial literacy program .................................................................. 30 4. HOUSEHOLD FINANCIAL MANAGEMENT................................................................ 32 4.1. Financial status of the Bulgarian households............................................................... 32 4.2. Management of household budget ............................................................................... 33 4.3. Financial strategies and investment activity ................................................................ 36 5. USE AND INTEREST IN FINANCIAL PRODUCTS...................................................... 38 6. KEY FINDINGS AND RECOMMENDATIONS ............................................................. 41 Recommendations....................................................................................................................... 45 ANEXES..................................................................................................................................... 47 2 ABBREVIATIONS AND ACCRONIMS USAID US Agency for International Development BNB Bulgarian National Bank APR Annual Percentage Rate EU European Union FLS Financial Literacy Survey CCP Commission for Consumer Protection FSC Financial Supervision Commission MHA Mutual Help Associations NGO Non-governmental organization NSI National Statistical Institute NUTS Nomenclature of Territorial Units for Statistics WB World Bank % Percentage BDIF Bulgarian Deposit Insurance Fund 3 INTRODUCTION The Financial Literacy survey is part of a World Bank Financial Governance/Consumer Protection in Financial Services Program in ECCU5 Countries. The Program aims to improve the levels of consumer protection and financial literacy in these countries—and thereby strengthen consumer confidence in the financial sectors. To this end the World Bank commissioned to the Alpha Research a baseline national representative survey. The objective of the study is to assess the level of financial literacy and consumer confidence of households and to outline the peculiarities in different target groups prior to the implementation of the action plan for increasing the financial literacy of the general population and in particular of the low- income groups. The fieldwork was accomplished in the period 17-25 May 2010 in Bulgaria. A total of 1432 respondents from a general population (18+) were interviewed in their homes. Additional booster sample of 186 youth aged 16-17 was implemented. The questionnaire is based on the model Financial literacy survey questionnaire used in Romania in order to achieve comparison of the results between the countries. The graphs and tables included in the report are based on the data, collected by the Financial Literacy survey in Bulgaria. In the cases where comparisons are made with other surveys, the source is duly referenced. The views expressed herein are those of Alpha Research experts and can therefore in no way be taken to reflect the official opinion of the World Bank. The report is structured in two main parts and 3 Annexes: Part one is methodological and has two chapters – Methodological approach and research activities; Socio-demographic structure of the sample. Part two presents the survey results in six chapters: Level of confidence in the financial sector; Awareness and Consumer rights in the use of Financial Products; Financial literacy; Household Financial management; Interest and use of financial products. Chapter six summarizes the Key findings and Recommendations. Annex 1 – Survey questionnaire. Annex 2 – Frequencies of the survey questions – results from the main sample and from the booster (age 16-17). Annex 3 – cross-tabulations of all the questions by socio-demographic profile of the respondents. 4 I. PART ONE: METHODOLOGICAL REPORT 1. METHODOLOGICAL APPROACH AND RELEVANT ACTIONS Following methodological approach and actions were taken in the implementation of the Financial Literacy Survey: 1.1 Preparation of the survey questionnaire The questionnaire is based on the model Financial Literacy Survey questionnaire used in Romania in order to achieve comparison of the results between the countries. Questions from previous surveys on financial literacy issues conducted in Bulgaria have been included in the questionnaire as well. This allows comparison of the survey results with those of previous studies. The questionnaire was reviewed with the relevant institutions – Bulgarian National Bank, Ministry of Economy, Energy and Tourism, World Bank. 1.2 Definition of sample size and sample frame 2.1. Sample size: based on statistical calculations in order to obtain max. standard deviation +/- 2.5% . Main sample - 1500 respondents general population Booster – 300 respondents 16-17 years old 2.2. Sample frame: random, two-staged stratified sample with probability, proportional to the size of the location. The sample include both urban and rural areas and is based on two stratification criteria: NUTS region (6 regions – North-West, North-Central, North-East, South-West, South-Central, South-East) Type of location (5 groups – Capital; Regional center with more than 100000 citizens, Regional center with less than 100000 citizens, Small town, Village) 1.3 Implementation of the sampling procedure All NUTS regions in Bulgaria have been ranged in descending order according to the size of the population. At the first stage the sample was distributed proportionally on the size of population in each of the 30 (6 NUTS X 5 type of location groups) strata different from zero. A cumulative column with the number of locations in each region was prepared. This cumulative column is used for defining the number of the sample points at the second stage of the sample and respectively – the number of the respondents in each location (proportionally to its’ size). The sample step was calculated according to the following formula: Sample step = Number of population in the region (N) divided on the number of respondents in the sample. A random starting number was defined. A number of 10 respondents in each sample nest have been set in order to minimize the influence of correlation error within the sample nest. The largest locations include a higher number of sample nests. The number of sample nests and the number of respondents in each location have been defined, proportionally to their size. At a second-stage, using the random selection based on the “last birthday in the household�, the respondents were selected within each sample point. The sample is representative for the adult population (18+). Additional sample booster of young people (16-17 years old) was prepared according to the same criteria. 5 1.4 Development of training materials, delivery of trainings for supervisors and interviewers. Conducting a pilot survey. The team was been given a special briefing session before the beginning of the study. They were acquainted with the survey objectives and tasks, the instruction for conducting the interview and the peculiarities of the questionnaire’s structure. 15 pilot interviews were conducted in order to test how the questionnaire would work in a local environment. Average length of the interview: 60 minutes. The shortest interview was 40 minutes and the longest - 90 minutes. The general observations from the pilot test were: o The questionnaire was twice longer than the 30 minutes length pointed out in the TOR. o There were long options that required repeat of question. The suggestion was to use a show card with the possible answers that could be shown to the respondents. 1.5 Fieldwork/Interviewing process The fieldwork was conducted by the team of 75 interviewers from Alpha Research. The average number of interviews per interviewer was 21. The fieldwork manager in the head office in Sofia was in permanent contact with the regional supervisors. There were no significant difficulties during the survey fieldwork. The interviews were conducted face-to-face at respondents’ homes during the following time schedule: o On weekdays – between 9.00 – 12.00h and 17:30 - 20:30h o During the weekend – between 10:00 - 20:00h o The average length of one interview was 55 minutes A total number of 1800 respondents were reached and 1618 interviews were conducted: o Main sample: total number of 1500 respondents were reached and 1432 were conducted: Response rate – 95% Refusal rate - 5% Main reason for refusals: the length of interview o Booster sample of young citizens aged 16 – 17 y.o.: total number of 300 respondents were reached and 186 interviews were conducted: Response rate – 62% Refusal rate – 38% Main reason for refusals: the subject of the survey 1.6 Quality control and logic check The supervisors’ team did quality control on the interviewers’ work from the head office in Sofia. 20% (325 respondents) of the total sample were back checked by phone: o 295 respondents were contacted personally and confirmed that they were interviewed. o 30 respondents were not available at the time of control, but another member of the household confirmed that the interview was conducted. Consistence and logic check on all completed questionnaires was carried out by the central office staff. No weighting procedures were applied. 1.7 Creation of the required software and instructions for data entering. Entering and cleaning data and preparation of clean data file (SPSS) for the main sample and for the booster. 6 1.8 Preparation of Preliminary Technical Report. 1.9 Preparation of Key Findings Report and Presentation of the survey results (power point format) for the Dissemination Workshop. 7 2. SOCIO-DEMOGRAPHIC STRUCTURE OF THE SAMPLE The sample designed and implemented by Alpha Research for the purposes of the Financial Literacy Survey ensures the national representativeness of the general population. The surveyed population has a similar pattern to the national demographic status. The sample structure reproduces the structure of the population in Bulgaria done by the census data of the National Statistical Institute (NSI). Table: Socio-demographic structure of the sample Type of residence Total Sofia Regional center Smaller town Village Count Col % Count Col % Count Col % Count Col % Count Col % Male 123 45,7% 235 48,6% 131 47,5% 193 47,9% 682 47,6% Gender Female 146 54,3% 249 51,4% 145 52,5% 210 52,1% 750 52,4% 18-30 71 26,4% 116 24,0% 62 22,5% 62 15,4% 311 21,7% 31-40 52 19,3% 93 19,2% 40 14,5% 58 14,4% 243 17,0% Age 41-50 46 17,1% 98 20,2% 51 18,5% 58 14,4% 253 17,7% 51-60 47 17,5% 77 15,9% 49 17,8% 84 20,8% 257 17,9% 60 + 53 19,7% 100 20,7% 74 26,8% 141 35,0% 368 25,7% Finished bachelor, master or higher 114 42,3% 97 20,1% 23 8,3% 9 2,2% 243 16,9% degree Highest level of Finished college 9 3,4% 21 4,3% 5 1,8% 3 0,7% 38 2,7% education Finished achieved 127 47,2% 248 51,1% 149 54,0% 162 40,0% 686 47,8% secondary school Finished elementary and 19 7,1% 118 24,4% 99 35,9% 229 57,0% 465 32,6% lower Bulgarian 264 98,1% 443 91,5% 226 81,9% 269 66,7% 1202 83,9% Turkish - - 21 4,3% 24 8,7% 101 25,1% 146 10,2% Ethnicity Roma 2 0,7% 17 3,5% 21 7,6% 22 5,5% 62 4,3% Other 3 1,1% 3 0,6% 5 1,8% 11 2,5% 22 1,5% No income 21 7,8% 49 10,1% 27 9,8% 38 9,4% 135 9,4% Less than 250 BGN 24 8,9% 92 19,0% 81 29,3% 157 39,0% 354 24,7% 251-500 BGN 66 24,5% 122 25,2% 78 28,3% 104 25,8% 370 25,8% 501-750 BGN 23 8,6% 43 8,9% 20 7,2% 10 2,5% 96 6,7% Personal monthly income 751-1000 BGN 33 12,3% 14 2,9% 3 1,1% 2 0,5% 52 3,6% More than 1000 18 6,7% 6 1,2% 2 0,7% 3 0,7% 29 2,0% BGN Don't know 2 0,7% 14 2,9% 12 4,3% 9 2,2% 37 2,6% NA 82 30,5% 144 29,8% 53 19,2% 80 19,9% 359 25,1% South-West 269 100,0% 42 8,7% 31 11,2% 40 9,9% 382 26,7% South Central - - 121 25,0% 65 23,6% 82 20,3% 268 18,7% South East - - 88 18,2% 63 22,8% 64 15,9% 215 15,0% Region North East - - 85 17,6% 24 8,7% 56 13,9% 165 11,5% North Central - - 82 16,9% 40 14,5% 96 23,8% 218 15,2% North West - - 66 13,6% 53 19,2% 65 16,1% 184 12,8% Total 269 100,0% 484 100,0% 276 100,0% 403 100,0% 1432 100,0% 8 Having in mind the peculiarities of the socio-demographic structure of the Bulgarian population and respectively, of the surveyed sample, the following characteristics should be taken into consideration: The women slightly outnumber the men (52%:48%). 72% of the country’s population lives in the urban area: one-fifth in the capital city and another 34% in the regional centers. The most densely populated NUTS is the Southwest (includes the capital), where a little over a quarter of the country’s population resides. The regions with the least population density are the Northeast and the Northwest, which according to the NSI data are also the regions with the least developed economy and the highest unemployment rates. 26% of the population are people over 60, mostly residing in the small towns and villages. The young age groups are predominant in the capital and the large cities, while the middle-aged – in the regional centers. The biggest part of the population (48%) has secondary education; every third citizen has only basic. The lower level of education is the most widespread among the elder people living in the villages and especially the ethnic minorities; 95% of the Roma have basic or lower education. People with higher education form about one-fifth of the country’s population. The main ethnic group is the Bulgarian (84%). The Turks are 10% and the Roma around 4%. Both minority groups and the Roma in particular have lower educational, social and economic status. 9 II. PART TWO: ANALYSIS OF THE SURVEY RESULTS 1. LEVEL OF CONFIDENCE IN THE FINANCIAL SECTOR 1.1. Confidence in the public institutions related with the financial sector The Bulgarian citizens trust “moderately� the main regulatory public institutions in the financial sector. Traditionally, the trust in the oldest Bulgarian financial institution Bulgarian National Bank (BNB) is the highest. Only for this institution the trust (37%) outweighs the distrust (20%). For the rest of the institutions – Financial Supervision Commission (FSC), Commission for Consumer Protection (CCP) and the Bulgarian Deposit Insurance Fund (BDIF) the negative (approx. 28-35%) and the neutral (22-26%) opinions dominate. The positive ones do not exceed 15-17%. (See Graph 1.1.1.) Graph 1.1.1. – Confidence in the financial institutions Trust in: (%) Bulgarian National Bank 9,6 27,1 33,4 11,4 9,1 9 Consumer Protection 4,4 13,1 25,9 16,2 18,6 22 Commission Financial Supervision 3,8 10,8 23,3 12,8 15,5 34 Commission Bulgarian Deposit 2,7 12,6 21,5 16,6 16,6 30 Insurance Fund 0% 20% 40% 60% 80% 100% Very much Much Average Little Does not trust at all Don't know Base: Main sample, N=1432 The young people (16-17) have lower level of distrust to the institutions, than the skepticism characteristic of the elderly. They, however, are characterized by a very high level of unawareness of the public regulatory bodies in the financial sector. With the exception of BNB, the remaining institutions are unfamiliar to some 60% of them. The most knowledgeable of the work of those institutions are the residents of the capital city, people with higher education, free-lancers and people with higher income. In the same time parts of these social groups are more critical to the performance of the regulatory institutions, in particular FSC and CCP. Very interesting result of the survey is the discrepancy between the /non/confidence in the Bulgarian economy and the confidence in the Bulgarian national currency (lev). The distrust prevails in the public attitude to the economy (44%:11%). Nevertheless, the confidence in the stability of the lev, that most probably derives from the trust and support of the Currency Board in Bulgaria, remain high (34% trust versus 22% distrust). No social group displays an explicit distrust to the national currency. (See Graph 1.1.2.) 10 Graph 1.1.2. Confidence in the Bulgarian economy and the national currency Trust in: (%) The lev, the national 8,0 25,6 31,7 10,7 11,7 12 currency 1,9 The Bulgarian economy 9,0 30,9 20,7 23,5 14 0% 20% 40% 60% 80% 100% Very much Much Average Little Does not trust at all Don't know Base: Main sample, N=1432 Among the young the trend is similar. The difference is that they are less pessimistic about the economy and even grater optimist about the stability of the lev (31% positive versus just 10% negative opinions). However, the proportion of those who cannot express an opinion remains high (40-45%). (See Graph 1.1.3.) Graph 1.1.3. Confidence in the Bulgarian economy and the national currency (booster:16-17 y.o.) Trust in: (%) The lev, the national 12,9 17,7 19,4 5,9 4,3 40 currency The Bulgarian economy 3,8 10,2 23,1 10,2 7,0 46 0% 20% 40% 60% 80% 100% Very much Much Base: Booster (16-17 years old), N=186 Average Little Does not trust at all Don't know 11 1.2.Confidence in private financial institutions and expectations to the development of the financial markets Two main trends stand out in the opinions of the private institutions offering financial services: Relatively low level of familiarity with them Prevailing distrust at the activity and services of the majority of them, with the exception of the banks Graph 1.2.1. Confidence in the private financial institutions Trust in: (%) Mutual Help Associations 4,4 13,8 16,8 9,9 18,1 37 Commercial banks 3,2 17,6 32,9 16,2 19,6 11 Insurance companies 2,6 11,2 26,3 20,1 25,9 14 2,3 Leasing companies 8,7 16,3 14,9 28,1 30 Consumer credit companies 1,3 6,6 15,6 14,2 36,5 26 (e.g. Jet Credit, T.B.I, etc.) 1 Pawn shops 3,0 9,3 12,4 48,8 26 0,9 Private pension funds 4,5 12,2 14,9 36,5 31 0,8 Securities companies 5,4 14,5 15,9 31,1 32 0% 20% 40% 60% 80% 100% Very much Much Average Little Does not trust at all Don't know Base: Main sample, N=1432 The trust in the banks is relatively the highest, although the distrust still dominates by 15%. Those people who have used the Mutual Help Associations (MHA), popular during the communist period, have a positive disposition to them. The insurance and leasing companies, securities companies, private pension funds and consumer credit institutions generate a relatively high level of distrust. As it is evident from Graph 1.2.1, the negative opinions outnumber the positive 6 to 8 times. The most critical is the attitude of the Bulgarians towards the Pawn shops. The opinions of all socio-demographic groups on these shops are very negative. Socio-demographic factors as age, education level, place of residence, income level etc. influence the level of distrust in the financial institutions. The elder, less educated social groups with lower income trust them less. We should, however, keep in mind that a huge proportion of these social groups are practically excluded from the market of financial services and have no incentive to be interested in them. Thus, the low interest and awareness increase the basic distrust to such institutions. The quality assessment of the services offered by the various financial institutions is strongly influenced by the practice of their use and the general awareness of the citizens of their role. The most popular are the services offered by the banking and insurance companies. Their quality, as that of the MHA services, was defined as the highest. (See Graph 1.2.2.) 12 Graph 1.2.2. Quality assessment of the products and services offered by the financial institutions in Bulgaria Quality of financial products and services offered by the financial institutions in Bulgaria (%) Mutual Help Associations 4,3 14,8 20,3 6,9 4,0 50 Commercial banks operating 2,9 22,6 40,2 8,8 3,5 22 in Bulgaria Insurance companies 2,1 14,9 33,4 15,3 4,5 30 1,5 Leasing companies 8,5 21,2 15,3 8,1 45 Consumer credit companies 1,3 9,0 21,9 15,6 10,4 42 (e.g. Jet Credit, T.B.I, etc.) 1 Private pension funds 5,4 19,3 17,2 8,6 49 0,9 Securities companies 6,0 20,5 13,7 6,4 53 0% 20% 40% 60% 80% 100% Very good Good Fair Bad Very bad Don't know Base: Main sample, N=1432 The negative opinions of the services and products of the leasing and securities companies, private pension funds and consumer credit institutions exceed the positive two to three times. In the same time very large proportion of the population is absolutely ignorant about their services. Between 42 and 52 percent of the interviewed have no idea of them and could not express any opinion. In the young age groups this unawareness is even higher (59-82% for various products and services). (See Graph 1.2.3.) Graph1.2.3. Quality assessment of the products and services offered by the financial institutions in Bulgaria (age group 16-17) Quality of financial products and services offered by the financial institutions in Bulgaria (%) 4,3 Mutual Help Associations 2,7 6,5 2,7 82 1,6 Commercial banks operating 3,8 11,8 18,8 5,4 59 in Bulgaria 1,1 Insurance companies 3,8 8,1 15,6 4,81,1 67 Leasing companies 3,8 6,5 11,3 7,5 69 1,6 3,8 Securities companies 3,2 8,1 4,8 2,2 78 Consumer credit companies 3,2 8,1 7,5 4,8 5,4 71 (e.g. Jet Credit, T.B.I, etc.) 2,7 Private pension funds 3,2 5,4 8,1 2,7 78 0% 20% 40% 60% 80% 100% Very good Good Fair Bad Very bad Don't know Base: Booster (16-17 years old), N=186 13 In spite of the critical turn in the people’s opinions of the economic situation, the expectations for their personal economic situation and the stability of the financial markets in general are positive. (See Graph 1.2.4.) Graph 1.2.4. – Expectations for the personal life – comparison between main sample and booster How do you think your life is going to be over the next 12 months? (%) 100 Main sample Booster 80 60 46,2 40 37,6 27,5 28,5 22,7 20 9,1 8,1 5,6 7,0 2,6 4,0 1,1 0 Much better Better The same Worse Much worse Don't know Base: Main sample (N=1432), Booster (N=186) The majority of the interviewed expect their present situation either to remain the same (38%), or to improve (30%). Among the youngest the expectations are even much more positive – 55% expect an improvement versus only 9% - deterioration. Analogous, although to a lesser extent, are the expectations in the group of 18-30 year’ old, in Sofia, among the people with higher education and personal income exceeding 700 lv. In the group of economically active population the most anxious are the company owners for whom the economic recovery has not started yet. The expectations as regards the financial and banking sector are similarly – preservation of the current level and further development. (See Graph 1.2.5). Graph 1.2.5. – Expectations as regards the development of the financial markets Expectations to the development of: (%) Banking sector in Bulgaria 28,8 54,9 10,7 6 Insurance companies 18,6 58,9 13,7 9 Consumer credit companies 17,3 52,9 19,8 10 (e.g. Jet Credit, T.B.I, etc.) The capital market 16,6 50,6 20,4 12 Private Pension Funds 13,9 54,1 21,3 11 0% 20% 40% 60% 80% 100% It will remain stable and develop in a positive direction No change Destabilization and negative development Don't know Base: Main sample, N=1432 14 Positive are the expectations for the development of the banking and insurance markets. With regard to the capital market and the non-banking financial institutions slight fears are discernible. The residents of the capital city, people up to the age of 30 and especially the students, well educated, company owners and self-employed, people with higher income and those using several financial services expressed more positive expectations. Vice-versa, the most pessimistic are the people living in smaller settlements that are generally elder and with lower education and income. The most negative are the expectations to the private pension funds that persist in all social groups. 1.3. Dynamics of the confidence to the main financial institutions and expectations for their development A comparison of the present data with the results of a national representative survey, conducted by Alpha Research in November 20051 shows that in the past five years the public trust in the main financial institutions undergoes positive, although slow, changes. The comparison of the dynamics in the trust: distrust ratio, exhibited on Graph 1.3.1, displays a clear positive trend. (See Graph 1.3.1) Graph 1.3.1. Dynamics of the “confidence:non-confidence� ratio in the main financial institutions Dynamics of the ““confidence:non-confidence”� ratio in the main financial institutions 9 Bulgarian National Bank 7 16 -63 -46 17 Private pension funds -47 6 Capital market -41 -43 -32 11 Insurance companies -23 -18 5 Bulgarian Deposit Insurance Fund -24 -15 9 Commercial banks in Bulgaria 2006 -34 -14 20 Financial Supervision Commission 2010 -70 -50 -30 -10 10 30 50 70 BNB is the only financial institution with a positive balance, which even is growing up (with 7 percent). As already pointed out, the distrust still dominates as regards the rest of the institutions, although to a lesser extent than in 2005. At present, as well as five years earlier, the private pension funds generate the greatest distrust, but their negative balance has reduced by 17%. The negative attitudes to the FSC and the insurance companies have similarly settled down, by 20% and 11% respectively. The distrust at the securities market, which is largely 1 National representative survey, conducted by Alpha research Ltd. in November 2005 as part of the project Financial Sector Integrity implemented by “Emerging Markets Group� as the Contractor of USAID. The comparative data used in the report are derived from this survey. 15 unknown to the people, remains high. Nevertheless, even this institution enjoys a slight positive trend. The attitudes towards the commercial banks and BDIF have improved. The worldwide economic and financial crisis and its specific manifestations in Bulgaria have clearly adjusted the high expectations for a marked growth on the financial markets from end- 2005. As it is seen on Graph 1.3.2., the positive expectations for a development of the banking sector, although to a less extent, are maintained. However the trust in the recovery and development of the markets that were damaged most by the crisis – private pension funds and the capital market – is seriously shuttered. From the previous expectations for growth and development it has twisted into visions of stagnation and downturn. The strongest change concerns the capital market, which will most probably be unable to attract significant funds in the near future. See Graph 1.3.2. Graph 1.3.2. Change in the expectations for the development of the financial markets Expectations to the development of financial markets (ratio between positive and negative expectations) 31 The banking sector 18 17 17 The insurance market 5 18 The capital market -4 6 The private pension funds 2006 -7 2010 -35 -30 -25 -20 -15 -10 -5 0 5 10 15 20 25 30 35 1.4. Confidence in the reaction of the institutions to emerging problems in the use of financial services The people’s opinions of the reaction of financial institutions in the occasion of emerging problem are characterized by: Relatively low confidence that the problem will be solved in a fast and fair manner Preference to submit a complaint to the Management of the institution where the problem occurred, both as a result of poor information about the regulatory bodies and a preference for the fastest and most direct way of solving the problem 16 Graph 1.4.1. Confidence in the fast and fair solution of emerging problems in the use of financial services If a conflict with a financial organization (bank, insurance company or the like) arises regarding the provision of financial services to you, how sure are you in the quick and just resolution of the dispute? (%) In short time 2,6 14,6 29,7 26,3 12,8 14 Correctly 2 14,3 28,8 25,8 14,2 15 0% 20% 40% 60% 80% 100% I am completely sure I am rather sure Fifty-fifty Base: Main sample, N=1432 I am not quite sure I am not at all sure Don't know The Bulgarian citizens tend to distrust the possibility of a fast and fair response on behalf of the institutions where a problem has emerged. A total of 39% of the people are not at all convinced there would be a fast solution of the problem and 40% question its fairness. Thus, only 17% hope for a fast and 16% for a fair judgment. This attitude is slightly better among the residents of Sofia, the people with higher education and the company owners. The group that stands out with its skepticism much higher than the common distrust are the Roma who are 4 times less confident in the possibility of a fair solution of their problem. The general critical disposition to the adequacy in the actions of the Bulgarian institutions makes the majority of the people look for the most direct and recognized method to solve a problem – the institution’s management. See Graph 1.4.2. Graph 1.4.2. Who will you complain to, if you have a problem with your bank? Who would you complain to, if you have a problem with your bank? (%) To the bank management 62,2 To the media 17,5 To the Consumer Protection Commission 12,8 To a representative of the system of justice 12,3 To the Financial Supervision Commission 5,9 To the Bank Deposits Guarantee Fund 4,6 To Bulgarian National Bank 4,0 To some other state institution 2,4 To the Association of Banks in Bulgaria 1,7 To the Payments Conciliation Committee 0,2 Other 0,4 I will not complain to anyone 17,7 Base: Main sample, N=1432 17 The majority of the people, 62%, would turn to the bank’s management. This proportion is nearly four times larger than those of the next institutions that they would consider addressing their complaint to. The media rank second in the people’s preferences for submit a compliant (17.5%), and the judiciary comes forth with 12.3%. Looking for the most direct way of solving some problem is a usual practice. The answers of this question show however another aspect of the financial literacy – the very low familiarity and/or credibility of the public regulatory bodies. Only 12.8% would turn to the CCP, 5.9% to the FSC, 4.6% to the DBIF and 4% to BNB. The proportion of the people who would not complain at all is 17.7%. The majority among them lives in the villages, are elder people over 60, people with basic education and low income, Turkish and Roma – about a third would not search for assistance. Those are the groups that are generally least informed of their consumer rights, are unaware of the institutional mechanisms and bear the greatest risk in terms of their protection when a problem emerges. The poor awareness of the consumer rights as regards the financial services is equally evident in the answer to the question about the work of the CCP. (See Graph 1.4.3.) Graph 1.4.3. Awareness of the work of CCP with regard to the financial services in Bulgaria Awareness of the Consumer Protection Commission activity concerning financial services Don't know Yes 15,2% 17,0% No 67,8% Base: Main sample, N=1432 As seen on Graph 1.4.3., only 17% define themselves as familiar with its work, but every third respondent from them would turn to it for assistance. This shows that a greater awareness would lead to a more adequate use of the protection mechanisms provided by the institutions. In order to boost the general trust of the citizens, however, they shall have to take more active efforts. 2. AWARENESS AND CONSUMER RIGHTS IN THE USE OF FINANCIAL PRODUCTS 2.1. Sources of information The usual information channels used by the Bulgarian citizens are: television, radio stations, newspapers, local radio stations, regional newspapers. (See Graph 2.1.1) 18 Graph 2.1.1 Sources of information used by the Bulgarian citizens Media usage (%) 1,4 Watch the national TV 89,7 7,3 0,4 programs 1,2 Listen to the national radio 34,5 22,1 12,1 9,2 22,1 stations Watch the local TV 24,4 19,8 11,6 7,8 36,3 programs Read the national 20,4 24,5 20,5 16,5 18,1 newspapers Listen to the local radio 14,8 16,0 12,6 12,4 44,3 stations Read the local newspapers 5,4 15,4 17,5 21,7 40,0 0% 20% 40% 60% 80% 100% Daily Few times a week Few times a month Once a month or less Never Base: Main sample, N=1432 Although with some differences in the intensity, this hierarchy is valid for all the socio- demographic groups, with one important exception – the young people. The booster sample differs from the main sample by: Lower intensity in the use of all traditional media sources (by 8 to 10%) at the expense of internet. 74% of them use internet every day, while for the main sample this share is just 29%. (See Graph 2.1.2.) Table 2.1.2. Frequency of the internet use (based on the entire sample and on the users of computers) Main sample Booster (Age group 18+) (Age group 16-17) Computer users Total sample Computer users Total sample Daily 65.2% 29.4% 85.5% 75.8% Few times a week 22.1% 10.0% 10.9% 9.7% How often do you use the Internet (including e-mail)? Few times a month 7.7% 3.5% 1.8% 1.6% Once a month or less 3.3% 1.5% 1.2% 1.1% Never 1.7% 55.7% 0.6% 11.8% Total 100.0% 100.0% 100.0% 100.0% The young people listen to the radio much more than they read newspapers. When the use of the World Wide Web is added, the press ranks third after the televisions and the internet. The groups with lower social status, education and income, just as the elderly persons, get almost exclusively informed from the television. In contrast, the middle-aged generation, the working population and people with higher education and qualification, although expressing 19 preferences for the television, use much more often the newspapers and internet as sources of information. Compared with five years ago the total share of the Bulgarian internet users has increased by 20 percent – from 24% to 44%. Despite this is the fastest growing information source, the coverage of the World Wide Web in Bulgaria remains unequal. More than 70% of the people in the villages, 84% of those with basic education, 90% of the Rome and 73% of the Turkish, as well as 90% of those over 60 do not use computers and internet. That is why, while the internet would be one of the most effective means of informing the young on financial matters, for other risk and less informed groups, such as the quoted above, other communication channels shall have to be employed. For people without specialized knowledge it is difficult to comprehend the financial information. Therefore the majority express preferences either for materials/brochures of the financial institutions (31%) or for the advice of friends and relatives (29%) where they can count on “tested� personal experience. Internet ranks first (with 21%) among the media sources, followed by advertisements (18%) and educational programs on the radio and television (17%). (See Graph 2.1.3.) Graph 2.1.3. Preferred sources of information on financial matters (general sample and booster) How would you prefer to receive information on financial matters? (%) Information materials of financial companies on their 31,0 tariff 13,4 28,5 Advice of friends and relatives 21,0 20,9 Internet resources 36,0 18,2 Advertisements 17,7 16,9 Education programs on the radio and television 8,1 5,9 Analytical materials published in mass media 2,7 Recommendations of independent financial 5,8 consultants/brokers 2,2 5,0 Consultants working for providers of a required service 2,7 5,0 Main sample Specialized information center/ call center 4,8 Booster 2,0 Employer's advice 1,1 0,5 Other 1,6 0,1 No sources 20,1 Don't know 33,3 Base: Main sample (N=1432), Booster (N=186) Internet is undoubtedly the number-one source for young people (36%), followed by the advice of friends and relatives (21%) and at a very close distance by the advertisements that have a strong influence on this group. The other more specialized sources are much less known and the interest to them is logically much weaker both in the entire surveyed population and in the sub- groups. 20% of the main sample and 32% of the booster are not sure which are the best information sources for them. In case of urgent situation it will be highly probable that they would turn to occasional channels. The existence of basic financial literacy that would allow the people to distinguish the reliable from the unreliable sources of information will be an important step towards a more confident and effective use of financial services. 20 2.2.Interest in financial information A total of 53% of the interviewed respondents say they are interested and follow at least one trend in the field of finance. Nearly half of them (27%) keep track of three or more. Those are mainly people with higher education, the middle-aged with higher income, those living in the urban area and in particular in Sofia. 43% do not read any financial information and among the young (16-17) this share reaches 79%. (See Graph 2.2.1.) Graph 2.2.1. Number of financial trends that the interviewed keep track of Number of the tendencies followed personally: (%) 100 80 60 43,0 40 26,7 20 16,1 14,2 0 One Two Three and more None Base: Main sample, N=1432 The most followed trends by the people are those that are the most closely related to their everyday life. (See Graph 2.2.2.) Graph 2.2.2. Specific trends followed by the interviewed (only the “yes� answers) Tendencies that you follow personally: (%) Changes in the level of public pensions, benefits 33,1 and tax exemptions Changes in the inflation 29,1 rate Changes of interest rates 27,9 on credits Changes of interest rates 23,3 on deposits Changes in the property 22,7 market Price fluctuations for oil, 12,6 gold, metals, etc. Changes of quotations and indices in the capital 4,3 market Base: Main sample, N=1432 21 The highest is the interest to the level of the pensions, benefits and taxes exemptions (33%) that affect directly almost everyone in the country. Following suit is the inflation rate (29%), the changes in the interest rates on loans (28%) and on deposits (23%). The fluctuations of the real estate market (23%) and especially of the price of petrol, gold and metals (13%) and the capital market quotations (4%) attract the interest of smaller groups, directly affected by them. Even the most popular among the trends – taxes, pensions, benefits and the inflation – are virtually absent from the attention of the people living in the small towns and villages, with basic education, low income and the people over 60. The most wide-spread source of information for those 53% of the people who follows some financial trend are the media (press, radio, television) – 54%. Second and third with a marginal difference are the friends and relatives (19.4%) and the specialized internet sites (18.5%). (See Graph 2.2.3.) Graph 2.2.3. Main sources of information about the financial trends Main sources of information regarding the tendencies followed (%) Newspapers, magazines, TV programs specializing on 53,4 financial issues Friends and acquaintances 19,1 Specialized web sites 17,9 Advertising 11,3 Bank officers, employees of insurance and management 8,6 companies, during a personal visit or by phone Independent financial 1,6 consultants or brokers Base: Main sample; Those who follow at least one of the tendencies N=816 In spite of the similar share of respondents, who mentioned „friends and relatives� and „internet�, they were chosen by very different social groups. The advice of friends and relatives is the preference of people living in the small towns, employed in manual labor, the elderly, representativeness of the minorities, with lower education and without the self-confidence of being able to orientate themselves in financial matters. Therefore they rely to persons with higher authority and reputation. Internet is the choice of people who are familiar with the capacity of the network and utilize it to diversify and enlarge their sources of information and to compare different opinions. Those are mostly representatives of the active social groups from the larger urban centers, officers and business owners, with higher education and, most significantly, of the younger age groups. In their personal practice if they need to take a loan for example, the main information that the interviewed are looking for is the interest rate and the cost of the loan. (See Graph 2.2.4.) 22 Graph 2.2.4. The most important factors the people would be interested in when choosing a loan institution. Factors for choosing a financial institution to take a credit from (%) 66,4 Credit interest rate and the 54,7 credit cost 54,6 15,9 Reputation (fame) 7,5 9,1 2,4 he way the personnel treat 2,5 you 3,2 0,6 View of the office 0,4 1,8 0,5 Gifts and advertising 1,4 campaigns 1,6 0,3 Other 0,6 0,5 13,8 Banks Don't know 32,8 Consumer credit 29,1 companies Leasing companies Base: Main sample, N=1432 The comparative Graph 2.2.4. shows that: No matter whether it refers to a bank, a leasing or a non-banking institution, the people’s attention is mostly focused on the interest rate and the cost of the loan. The authority of the institution that in the years of recurrent bankruptcies and instability of the banking system was the leading factor, is now far behind (four times lower) the specific conditions offered by the institutions. As already pointed out, with the exception of the banks the rest of the financial institutions are much less known to the people. Therefore the share of those people who cannot express an opinion about them is much larger (28-33%). In principle the interest rates are the most important indicator that people monitor in the field of crediting. The bank commissions have less weight and the annual percentage rate (APR) is virtually unknown to the majority of the Bulgarians. A mere 5% would attribute priority importance to this standardized indicator. (See Graph 2.2.5.) Graph 2.2.5. The most important factor when taking a loan from a bank When taking a credit from a bank, what would you give more importance to...? (%) Credit interest rates 36,7 Both, commissions and 26,6 credit interest rates Annual Percentage Rate 4,7 Commissions charged by 0,7 the bank I wouldn't' take any credit 23,3 Don't know 8,0 Base: Main sample, N=1432 23 Another important element of the informed choice is the comparison of the general conditions offered by variety of financial companies before using a given financial service. The survey showed a series of blank spots in this respect. A total of 34% of the interviewed never or very rarely compare the conditions. Only 19% do it sometimes or always. Most often the conditions are compared by people using a greater number of financial services (46% of them do it often or always versus 19% for the entire sample). More attentive and selective in their choice are the people with higher education, the company owners and people with higher income. The weak personal activity in comparing the different conditions of the financial institutions has an impact on the way the company whose services will be used is chosen. Unlike the monitoring of various trends (where the media rank first) and the collection of general financial information (where first are the brochures and printed materials of various financial institutions), here the choice number one is the advice of friends and relatives (32%). In other words when choosing a financial institution the informal channels and the use of someone else’s experience matter more than the targeted personal effort. The information brochures come second (with 25%). Very close in terms of influence are the advertisements (17%) and internet (15%). The specialized sources are used very rarely. (See Graph 2.2.6.) Graph 2.2.6. Sources of information when choosing a financial service company in the past five years Sources of information you had paid attention to when choosing a company to buy a service from in the last five years: (%) Advice of friends and relatives 31,9 Information materials of financial companies on their tariff 24,7 Advertisements 17,0 Internet resources 15,4 Education programs on the radio and television 6,6 Analytical materials published in mass media 3,7 Recommendations of independent financial 3,0 consultants/brokers Employer's advice 2,6 Consultants working for providers of a required service 1,9 Specialized information center/ call center 1,2 Personal meetings at the financial institution 0,3 Other 0,2 I don't use any sources 0,9 Don't know 36,4 Base: Main sample, N=1432 2.3. Intensity of the communication on financial matters Although the economic situation of the households is the major concern of the Bulgarians, conversations about financial services and institutions are isolated in their everyday life. 35% say they never discuss such topics with their friends and just 21% talk about them at least several times a month. (See Graph 2.3.1) 24 Graph 2.3.1 Frequency of conversations about financial institutions and services When you meet your relatives, colleagues, friends, how often do you talk about financial institutions and services? (%) 100 80 60 43,3 40 34,8 20 13,2 5,4 3,4 0 Daily Few times a week Few times a month Once a month or Never less Base: Main sample, N=1432 Among the residents of the villages every second respondent says they never talk to friends on such topics. For people with basic or lower education this share is 54%, and it is the same among the Roma. Those who talk most often about financial matters are the persons with higher education, the residents of Sofia and the company owners. The disturbing trend is that not only the lowest status groups but also the middle-aged people, people with secondary education and mid-level work positions do not actively discuss those topics. It could be assumed that such conversations are more often about complaining than discussing strategies or opportunities for solving the problems. Not only the informal communication on financial matters is poor. The survey also showed that the institutions offering financial services are also not active in acquainting and informing the people with their services and the opportunities they provide. (See Graph 2.3.2.) Graph 2.3.2 Frequency of visits/talks with financial institutions’ representatives Personal contacts or contacts through phone during the last 12 months: (%) Never 0,3 Bank officers or bankers 6,6 35,7 56,5 1,0 Representatives of insurance 0,2 companies / private pension 15,9 82,5 fund 1,5 Representatives of a non- 0,1 banking financial institution , 0,2 9,6 88,3 such as Jetcredit or T.B.I. Credi 1,8 0,1 Pawn houses personnel 0,9 3,1 95,9 0,1 Independent financial advisers or brokers 0,7 2,7 96,4 0,1 Representatives of securities 0,6 companies (for share deals) 2,0 97,3 0 20 40 Daily Few times a week Few times a month Once a month or less Base: Main sample, N=1432 25 Relatively the most intense is the communication of the Bulgarians with bank officers, which correlates with the fact that the banks are the institutions most widely used. Second in intensity is the communication with the insurance sector and third with representatives of non-banking financial institutions. The less informed the people are, the less they search for information and the lower their confidence to address a financial institution is. The diversification of the channels of contacts of these institutions with the citizens would have a great impact in strengthening the interest and the usage of the financial information for improving the personal living standard. 3. FINANCIAL LITERACY 3.1. Self-assessment of the financial literacy The self-assessment of the Bulgarian citizens about their financial literacy is predominantly negative (See Graph 3.1.1.). Only narrow social groups have a more positive self-assessment than the average. In other words the use, the trust, and the awareness of financial services is concentrated among a small part of the Bulgarian citizens - 10% - 15% of the country’s adult population. Graph 3.1.1. Self-assessment of the financial literacy Self-evaluation of financially literacy (%) 100 80 60 40 33,8 26,5 19,8 20 13,3 5,0 1,5 0 Excellent Good knowledge Satisfactory Unsatisfactory No knowledge Don't know knowledge and and skills knowledge and knowledge and and skills skills skills skills Base: Main sample, N=1432 Higher than the average assess their financial knowledge: The residents of the capital city (23%) 31 – 50 year’-olds (18% - 22%) People with higher education (30%) Officers (20%), company owners (34%), free lancer professionals (28%) High income groups (35% - 49%) Active users of financial products (25%) The lowest self-assessment have the residents of the smallest settlements, the eldest citizens, but also the young generations, low educated people, manual workers, unemployed, pensioners and the people with the lowest income. The share of people in these social groups who assess their financial knowledge as more or less unsatisfactory exceeds 60% and even reaches close to 26 80% in the one of the lowest status groups, namely the Roma (77%) and the households with the lowest income (78%). Predominantly negative is likewise the self-assessment of the 16 – 17 year’ old youth that are supposed to join the financial service market within years. 53% believe their knowledge in the field is unsatisfactory versus 9%, who think of it as very good or excellent. Due to the not very well developed financial service market in Bulgaria, the Bulgarian citizens are relatively unprepared when entering on it and only later, with the practice of consumption, do they gradually enrich their financial knowledge. 3.2. Objective assessment of the financial literacy of the Bulgarian citizens The objective measurement of the financial literacy of the Bulgarian citizens corresponds to the subjective assessment of their knowledge in the field (See Graph 3.2.1). A significant part of the interviewed experience difficulties when they have to perform basic financial operations and are not acquainted with the role of the state in guaranteeing the deposits of the citizens: Only 2% of the interviewed were able to answer correctly all the eight questions, checking the level of basic financial literacy. The Bulgarian citizens can answer correctly up to three questions on average. The lower their opinion of their financial knowledge is, the more difficulties they experience with simple financial operations and vice versa – the people with high self-assessment of their knowledge give more than the average number of correct answers to the questions. Table 3.2.1 Self-assessment of financial literacy Average number of correct Share from the adult answers population I have excellent knowledge and skills 5.73 15% I have good knowledge and skills 4.90 I have satisfactory knowledge and skills 4.27 34% I have unsatisfactory knowledge and skills 2.93 46% I have no knowledge and skills 1.07 Don’t know 1.32 5% Average for the country 3.24 100% Graph 3.2.2 shows that the financial literacy of the Bulgarian citizens boils down mostly to their ability to calculate the more profitable discount (66%) and a simple interest amount (53%) – a task, more or less easily performed by both the higher-status groups (better informed and more active users of financial services), and the lower-status groups (who at present are actually excluded from the financial market). 27 Graph 3.2.2: Answers to the discount and simple interest questions Let’’s assume that you deposited 10,000 lev in a bank account at 8% annual interest rate. How much money will you have in your account in 2 years if you do not withdraw from or add to this account any money? (%) 100 80 60 54,4 40 33,0 20 9,2 3,4 0 More than 10,800 BGN Exactly 10,800 BGN Less than 10,800 BGN Don't know Base: Main sample, N=1432 Let’’s assume that you saw a TV-set of the same model on sales in two different shops. The initial retail price of it was 1,000 lev. One shop offered a discount of 150 lev, and the other - 10% discount. Which one is a better 100 bargain? (%) 80 66,6 60 40 28,1 20 3,9 1,5 0 A discount of 150 lev There are the same A 10% discount Don't know Base: Main sample, N=1432 Between 43% and 46% of the people have an adequate understanding of inflation and its consequences on their economic situation. There are significant differences on this matter between the social groups. The topic of inflation is difficult for the less educated, less qualified, as well as for the younger (16 – 17 year’ old) Bulgarians – i.e. the most vulnerable in the situation of a financial crisis. The challenge to calculate a complex interest rate on a deposit or a loan is within the ability of a limited group of high-status users, better acquainted and active on the financial market. Even they however are not very familiar with the role of the state in guaranteeing the people’s deposits. Although 70% of the country’s adult population think it is reasonable for the state to compensate the users in the occasion of bankruptcy, only one-third of those self-defined as familiar with financial matters and some 10% of those unfamiliar know the actual ceiling of state guarantee of deposits - BGN 100 000 (EUR 50 000). Even smaller is 28 the proportion of those respondents who were informed that the state does not guarantee investments in shares. Graph 3.2.3: Answers to the two questions of the state guarantees: on deposits and shares If a citizen has a deposit in a Bulgarian bank and this bank becomes bankrupt, do you know what maximum level of a deposit is entirely insured by the government? (%) 100 80 60,4 60 40 21,0 20 7,0 4,6 2,5 4,5 0 The government The equivalent in The equivalent in The equivalent in The government Don't know does not insure the lev of 30 000 euro lev of 50 000 euro lev of 100 000 insures all bank bank deposits euro deposits in their full amount Base: Main sample, N=1432 If a citizen owns shares in the unit fund, and the value of shares plummeted because of a large scale financial crisis, what is an approximate level of losses insured by the government? (%) 100 80 74,4 60 40 20 10,9 7,4 3,3 1,7 2,3 0 The government The equivalent in The equivalent in The equivalent in The government Don't know does not insure lev of 30 000 euro lev of 50 000 euro lev of 100 000 insures all unit against losses euro fund shares in from the reduction their full amount of value of the unit fund shares Base: Main sample, N=1432 The familiarity with the role of the state in guaranteeing deposits shows a positive trend in the last five years. It has increased from 17% to 21%, but is still known to a limited circle of well educated people occupying high social positions and actively participating in the financial market. The majority of the general population is not familiar with that matter. In the small settlements, for example, among the eldest and the youngest (16 – 17), Roma and people with the lowest income, the level of unawareness exceeds 70%. 29 3.3. Attitudes to the financial literacy program The low awareness level of the Bulgarian citizens justifies the necessity for implementing a financial literacy program. The first challenge will be to identify the target groups of his program. It shall fully depend on its key objectives: If the main goal of the program is to educate the poorest and illiterate social groups whose financial literacy is close to zero, it should consider the fact that those people have serious difficulties defining what exactly they want to learn about. This is largely due to their lack of knowledge but also to their disinterest in the topic. Because of their exclusion from the financial market the people with lower social and economic status show nearly no interest in this sphere. If the main goal of the program is to improve the knowledge of the current users of financial service, it should consider their interest in a wide range of issues. Graph 3.3.1: Preference to topics to be included in the financial literacy program Aspects of managing personal finances that should necessarily be part of a financial training course for people (%) What to do not to get up to one's neck in debt when using credits 75,8 What consumer rights protection laws are available and what one 75,6 needs to do when one's consumer rights are violated What information should a user pay attention to when signing a 75,5 contract with a bank or another financial company Banking services - current accounts, saving deposits, and plastic 71,4 cards How does the pension scheme work and what methods are available 71,2 to secure one's old age income Consumer credit for purchasing goods and services 68,1 How to plan purchases of durables and evaluate one's abilities to 65,3 implement them Parameters used to compare the services offered by banks and other 63,6 financial companies Sources of information on financial services 63,3 Insurance and insurance products 61,4 Private pension fund 61,0 Mortgage loan 61,0 How to form one's own financial targets and draw a personal current 60,7 financial plan Capital markets, stock and unit fund shares, and how to use it 49,1 Base: Main sample, N=1432 The survey tested fourteen possible topics that can be included in the financial literacy program. Depending on the interest they generate, the topics were classified in three main groups (See Graph 3.3.1): The most attractive topics for the public are: „what should I do, so that I don’t sink deep into loans� (75%), „what are the active consumer protection laws and what should one do when their consumer rights are violated� (74%), „what kind of information should the user pay attention to when signing a contract with a bank or some other financial institution� (74%), „which are the main bank services – payment accounts, deposits, cards� (70%) and „on what principle does the pension system function and what opportunities does a person have to secure income for their old age� (69%). These are the main issues for the people regardless of their financial literacy level and current activity. Therefore these topics could form the mandatory basis for financial education of the population. These topics will attract the broadest possible public interest and, on the other hand, will create the necessary conditions for achieving efficient results. The only exception in this group of topics is the understandably weak interest of the 16 – 17 year’ old group to the principles of the pension security system. 30 The second group includes questions related to information about specific products and services – how can you get a consumer or mortgage loan, how to utilize the insurance products, what should one pay attention to when comparing the offers of various banks and insurance companies, how differentiate between advertising and objective information. The interest to these topics is greater among the actual users of financial services: the better educated and economically active residents of the urban centers who utilize most actively the opportunities created by the financial market. Therefore it would be best to include them in the program mostly in the form of practical examples and cases, helping the users get orientated in a life situation. The third group includes development of skills for financial goal-setting and planning, private pension security funds, opportunities for joining the capital market. They were pointed out by the best informed citizens for whom the participation on this market is a form of investment. Those are the people with the highest income and high ranking positions in the occupational hierarchy and generally speaking the most attractive clients of the financial institutions. It would be most effective for the program respectively to include such topics in the form of consulting rather than training. Graph 3.3.2: Preferred institutions to implement a financial literacy program Trainers suitable for delivery of financial literacy program (%) Mass media (journalists and TV presenters) 28,8 Government entities regulating these markets 28,6 Higher education institutions of economic and financial 28,5 profile Non-government organizations or public organizations 19,3 involved in consumer rights protection A commercial bank 18,7 Independent financial consultants 14,7 Pension fund and/or insurance companies 6,0 Unit investment funds (management companies) 4,8 Other 0,5 Don't know 23,6 Base: Main sample, N=1432 An important element in the planning of the financial literacy program is to analyze the people’s opinion of the most appropriate trainers on these matters (See Graph 3.3.2). No single institution appears as the respondents’ favorite for the purpose. The expectations are directed at several main training and information channels. The top three positions in this classification are occupied by the media (29%), the public regulators of the financial market (29%) and the universities with economic or financial profile (29%). NGO, the commercial banks and the independent financial consultants form the second group of appropriate trainers. The opinion of the most appropriate trainers on financial matters is heavily dependent on two factors: accessibility of the training institutions and confidence in them. The media and state institutions are the most accessible for the wide range groups of people, i.e. as pointed out earlier in the analysis, they enjoy the greater trust of the users compared with the private financial companies. 31 At the same time there is a small difference in the preferences of the different social groups, resulting mostly from their social status and economic activity. The broad public prefers the media, while the better acquainted with the financial matters citizens prefer the higher education institutions, NGOs and independent financial consultants. 4. HOUSEHOLD FINANCIAL MANAGEMENT 4.1. Financial status of the Bulgarian households The self assessment of the personal financial situation is predominantly negative. The largest part of the Bulgarian citizens (38%) stated they were hardly able to satisfy their basic needs. Every fifth respondent has money for food, but the purchase of clothes already creates financial difficulties. A quarter of the respondents have no problem buying food and clothes but experience difficulties when they need to provide goods for long-term use. Only 10% of the country’s adult population enjoys the comfort of being able to buy the most necessary but also the more expensive goods. Graph 4.1.1: Self-assessment of financial situation Which of the descriptions comes closest to your household’’s income nowadays? (%) 100 80 60 40 35,9 24,1 20,6 20 9,3 8,3 1,8 0 We hardly make the Enough money to buy Enough money to buy No trouble buying We can afford quite Don't know ends meet food but buying food and clothes, but durable goods, but expensive things clothes causes purchase of durable purchase of a really financial difficulties goods is problematic expensive thing like a Base: Main sample, N=1432 car is hard The survey results show that the income of the Bulgarian households as of April 2010 was on average at 720 lv. (about 360 Euros) total for the household and around 390 lv. (about 200 Euros) personal earnings. Two important trends related to the financial status of the households are registered: Strong differentiation of the income and economic status, depending on: the education level, age, place of residence, social status. The better educated, higher in the social hierarchy and living in a bigger settlement the people are, the higher is the average amount of their income. Conversely, the lower social status means considerably lower income (See table 4.1.2.) In Bulgaria the remuneration gap between men and women remains a significant problem (although compared with the average level for the EU Bulgarian is among the member states with lower levels of inequality). 32 The two major sources of income are the salary (46%) and the pension (26%). One-tenth of the adult citizens declared absence of any personal income. Younger persons up to 30, people with low education level, students and Roma mention this option more frequently. Table 4.1.2 Average household income, Average personal income, April 2010 April 2010 (in BGN) (in BGN) Sofia 1117 633 Regional center 763 403 Type of residence Smaller town 602 338 Village 482 277 18 – 30 912 469 31 – 40 830 494 Age 41 – 50 849 466 51 – 60 695 403 61+ 467 270 Finished bachelor, master or higher 1174 664 degree Finished college 810 511 Education Finished secondary 776 410 school Finished elementary 420 242 and lower Bulgarian 749 415 Turkish 550 306 Ethnicity Roma 342 204 Other 569 310 Male 731 438 Gender Female 684 352 Total for the country 718 389 The income level is one of the key factors determining the financial activity of the Bulgarian citizens. The higher their income is, the more active they are in using financial services (a detailed picture of the financial consumption will be presented further down in the analysis). 4.2. Management of household budget As it can be seen on Graph 4.2.1., the large majority of the adult population routinely makes a financial plan of their household income and expenses. The only exception are the Roma who say they make no financial plans and the 16 – 17 year’ olds of the booster sample, where the majority have no information whether this practice exists or not in their households. 33 Graph 4.2.1: Household’s financial plan In your household do you usually have a financial plan, thus you know how to cover current monthly expenses? Don't know 6,4% No 20,5% Yes 73,0% Base: Main sample, N=1432 The daily practices of the households show substantial differences in the people’s understanding on the accountancy of the financial resources. The largest part (39%) have rather a general idea of the income and expenses in their household, 28% keep all records from their financial operations and another 22% simply keep all records without calculating what they earn and spend: The most conscious and strict in their personal accounting practices are the pensioners from the urban areas who either have very low income or higher than the average for the country. The practice of keeping the receipts without actually accounting their resources is typical for citizens with medium economic status living in the urban areas who are currently at the end of their career in pre-retiring age. The economically active generations, the working and the most active users of financial services are the people who keep a general track of their economic situation without focusing in detail on individual income and expenses. Graph 4.2.2: Spending practices How often during the last 12 months your household…… (%) Spent in a month exactly the money earned in the 7,8 19,8 28,6 16,0 13,1 14,9 previous month Remained without money 7,5 18,0 30,7 17,8 16,1 9,8 from month to month Remained with unspent 2,4 money from month to 5,4 22,1 25,6 36,4 8,1 month? 0% 20% 40% 60% 80% 100% Always Very often Sometimes Very rarely Never Don't know Base: Main sample, N=1432 34 As Graph 4.2.2. shows the majority of the Bulgarian households manage to spend within the framework of their monthly income. The saving of larger sums and indebtedness as a result of systematic lack of money are isolated cases. Two factors have the greatest impact on the way the households manage their monthly expenses. The first is of course the economic status. The second is the financial literacy. The better the knowledge of the citizens of financial products and services is, the better they manage their financial expenses. 8% of the country’s adult population manage to save periodically some amount of their monthly income. The patterns of use of the unspent money show that the Bulgarians try to avoid the risk and prefer more secure options: bank deposits, keeping cash, buying consumer goods. Investments with higher potential profit, and respectively, greater risk, (such as investments in own business, capital market investments, in gold or jewelry etc) remain far behind. (See Graph 4.2.3). Graph 4.2.3: Saving practices When your household remains with unspent money from month to month, generally what do you do with them? (%) We deposit it or do not withdraw it from the account 50,0 50,0 We keep it in cash 33,0 67,0 We spend it on consumer goods 31,3 68,8 We invest it in our own business 17,9 82,1 We lend it to friends or relatives 16,1 83,9 We invest it in the capital market 4,5 95,5 We invest it in gold and jewellery 2,7 97,3 Other 1,8 98,2 0% 20% 40% 60% 80% 100% Base: Main sample, money remains unspent always or very often, N=112 Yes No Respondents with higher status from the larger cities who have higher confidence in the banks use more often the bank deposits. Conversely, the citizens with lower status continue to keep their saving in cash because they do not trust the banks. One-forth of the households periodically runs out of money before the end of the month. In this situation they most often minimize their spending (78%), or borrow without interest from relatives or friends (75%). In one-third of the cases the people opt for shopping on credit from a store. This practice exists mostly in the smallest settlements among the elder generations, the unemployed and especially the Roma. The share of people in need who turn to the financial institutions is much smaller. The reason is not only in the public attitudes. In fact the distrust is in the reverse direction – from the institutions to the citizens. It is a common practice of the financial institutions to reject applications for loans coming from persons in difficult economic situation. 35 4.3. Financial strategies and investment activity The financial strategies of the Bulgarian citizens are mostly short-term. They are more oriented at „handling the situation� than at accumulating additional wealth. This conduct is driven by several basic arguments: The majority (62%) of the citizens spends their monthly income in full and is unable to save due to its scarcity. The people prefer to prevent from indebtedness their household than to live “on credit�. The largest part (43%) asserts they have no hanging debts and among those who have the amount does not exceed double their monthly income. The income of 36% of the people has collapsed suddenly and considerably in the past three years. This problem had affected most the residents of smaller towns, the economically active generations and the low-qualification workers. The leading factors in the income reduction are external and do not result from the households’ budget management. In the majority of cases the income’s drop is due to a job lost during the economic crisis (49%) and to a reduced or delayed salary (44%). However, even when their income has fallen sharply, the respondents try to avoid borrowing. Their strategies for handling the eventual grave financial crisis of the household is analogous to the measures currently applied to the penury situation: reduced expenses, loans from relatives, searching for a second job (See Graph 4.3.1). Graph 4.3.1: Practices for handling the situation of reduced income If tomorrow, your household incomes would suddenly be reduced with one quarter for a period of 3 months or more, how would you manage? (%) We will cut down expenses and save 79,3 13,9 6,8 We will borrow money from relatives, friends and acquaintances 55,1 38,1 6,8 We will work extra hours/additional jobs 30,4 62,7 6,8 We will buy on credit from shops 17,5 75,6 6,8 We will apply for social benefits 16,0 77,2 6,8 We will spend our savings in lev 15,6 77,5 6,8 We will use a credit card 9,3 83,9 6,8 We will take a bank loan 6,1 87,1 6,8 We will borrow from non-bank credit institution 4,1 89,1 6,8 We will pawn jewellery or other goods 3,9 89,2 6,8 Other 0,7 92,5 6,8 Yes No 0% 20% 40% 60% 80% 100% Base: Main sample, N=1432 Nothing special because our household has sufficient savings and incomes The most disturbing is the respondents’ judgment of what period the household would be able to manage its need in case of significant income reduction. Only 11% believe they would be able to manage in this situation for more than six months – mostly the high-status residents of the big cities. The majority are of the opinion they would manage for one to six months. Again those are mostly people whose status is higher than the average – economically active persons performing high-qualification jobs and actively using financial products. The financial strategies in the case of economic wealth also follow the current practices. The respondents’ priorities cover: savings, securing the education of the children and purchasing 36 home goods. The lower-status residents of the smaller towns, the older generations and people with low income prefer to buy consumer goods than to make savings. (See Graph 4.3.2). Graph 4.3.2: Preferred ways of spending larger sums of money Let’’s assume that in addition to your regular income your family got some money in the amount of 50,000 lev, meaning approximately 25,000 euro. What would you do with this money most likely? (%) I'll make reserves (for unexpected event, special events) 35,4 I'll spend it on education and development of my children 29,1 I'll spend it on the purchase of household goods 22,6 I'll invest it in my own business 19,7 I'll try to add money and buy a plot of land, a car, etc. 19,1 I'll repay my earlier debts 17,8 I'll make long-term savings to accumulate money 16,1 I'll spend it on my medical treatment and that of my family 15,4 I'll invest it in the bank deposit at an interest rate 14,8 I'll spend it on entertainment, on travel or vacation 13,7 I'll spend it on upgrade of my skills or a new vacation/profession 6,7 I'll buy gold, jewels and the like 2,4 I will help my children 2,1 I'll buy an insurance policy, spend it on voluntary pension 1,9 To repair property (house, apartment) 1,3 I'll buy shares and other stock of Bulgarian companies 0,9 Other 1,3 Base: Main sample, N=1432 Don't know 3,6 The intentions of the 16 – 17 year’ old of the booster sample are for fast spending of the extra money for increasing their personal living standard – entertainment, travel or vacation (35%), buying a car or (27%) and home goods (23%). Only the strategies of the economically active and wealthier at the moment social layers differ. They are more ready to start their own business or to invest in other enterprises that could bring higher profit in the long-term perspective. At present the large majority of the Bulgarian citizens (90%) make no investments at all. Probably due to the economic crisis the trend in the investment activity is negative compared to five years ago. At the end of 2005 those who said they had never made investments were 77%. The proportion of Bulgarian citizens who had invested in real estate has reduced almost twice (from 13% to 6%). Even bigger is the reduction of investments in pension funds (from 5% to 1%). Similar to back in 2005 is only the level of investments in life insurance. The highest-income users of financial services from the large urban centers are the most active in the investments. Just like five years ago the perception of a most profitable investment is the real estate. The opinions of the securities are controversial: on the one hand they rank second in profitability, but on the other they are on top as the instruments bearing the greatest risk. The opinion of the risk and profitability of pension funds and life insurance is identical: they are considered less profitable and at the same time bearing sufficient risk, which is why they are not yet attractive for the general public. The opinions are common for both, the poorly informed passive participants in the financial markets, and for the better informed more active users. 37 In the situation of economic crisis and low living standard it would not be realistic to expect any growth of the investment activity. Nevertheless one of the important objectives of the financial literacy program could be to strengthen the public awareness about 1/ the effective management of personal funds mechanisms; 2/ the accessibility, profitability and risks of financial products and 3/ last but not least, the role of the state as the market regulator. 5. USE AND INTEREST IN FINANCIAL PRODUCTS The economic crisis has pulled back the consumption of financial products in 2010 to its end- 2005 level. (See Graph 5.1.). During the past year the share of users of all financial services has shrunk. The drop is biggest in the credit products. This is the result of not only the attitudes of the users but also the policies of the banks that made the crediting conditions much stricter. Graph 5.1.: Usage of financial services and products Financial services usage (%) 37 Bank debit card 37 33 20 Insurance policies 14 40 16 Consumer loan 24 14 9 Bank deposit 12 20 9 Current account 14 9 8 Bank credit card 12 4 4 Private pensions 7 8 3 Loans from relatives, friends, acquaintances 3 Loans from non-banking financial 3 Buying on credit (informally) from food shops 2 Mortgage loan 4 2 1 Loans from Mutual Help Associations 1 Buying on credit from the electrical appliances shops 1 Car loans 0 Pawning goods 0 Investments in shares 2010 0 2009 Investment funds 2005 Base: Main sample, N=1432 Among the active users of financial services the high-status urban residents stand out: the age group 31 – 60 with high education and medium to high personal income. Most widely used are the debit cards, consumer loans, time deposits, payment accounts and credit cards. More or less popular is also the insurance – 20% of the interviewed stated that a member of the household has an insurance. This is actually the result mostly of the “Casco� insurance that 13% of the households possess (See Graph 5.2). Still, a huge part of the vehicles do not have a “Casco� (52% of the households said they own a car and just 13% that they have a Casco). 38 Graph 5.2: Usage of insurance products Insurance product usage (%) Car insurance - CASCO 12,9 Life insurance 9,7 House insurance 6,5 Medical insurance 3,8 Terrains and/ or crop 0,7 insurance Other 2,1 Base: Main sample, N=1432 Next in consumption are the “Life� and “Property� insurances. Although is has been making progress on the market in the last years, the medical insurance is still used by a limited portion of the citizens – 4%. In the majority of the cases the decision to get insured is a matter of personal choice. This is the case twice more often than policies, accompanying some other financial product. The larger part of the Bulgarian citizens does not get insured not only because of lack of financial resources. Most of them are convinced they do not need such a product (See Graph 5.3). The insurance companies are confronted with the challenge to explain the benefit and affordability of their products to the customers because one of the leading arguments against the use of insurances is their high cost for the Bulgarian consumer. Graph 5.3: Opinion of the personal insurance policy Insurance policy (%) 100 Life insurance House insurance 80 60 40 40 37,4 36,2 34,4 20 9,5 9,6 8,8 10,7 6,8 4,5 1,3 0,8 0 My life /house are My life /house are My life /house need My life /house need We don't need Don't know insured for the insured for some to be insured, but it is to be insured, but I insurance required amount amount but in may too expensive don’’t believe that the opinion it is lower insurance companies than required will keep their contract terms and pay the insured Base: Main sample, N=1432 amounts 39 The users of financial services in Bulgaria still lack the confidence to withstand their rights before the financial institutions. 11% say they have experienced problems, mostly in the use of credit products such as consumer loans, credit cards and loans from non-banking institutions. In nearly half of the cases the users did not undertake any remedy actions and in another quarter of the cases they simply gave up the use of the respective product. A compliant to the service supplier or a state body was only filed by 18 percent of the affected. In this sense acquainting the users with their rights is not only one of the preferred, but also one of the most urgent topics that have to be included in the financial literacy program. Otherwise the use of financial services is likely to remain underdeveloped and the trust in the financial institutions – low. The short-term intentions of the users for the next two years are related to credit products – consumer loans and credit cards. The debit cards and the insurances are also among the planned financial priorities (See Graph 5.4). Graph 5.4. Intention to use financial products in the next two years From the folowing financial services, which ones do you plan to use the the next 2 years? (%) A consumer loan 9,1 An insurance policy 3,2 A bank credit card 3,1 Bank deposit 2,9 Buying on credit (informally) from food shops 2,9 Loans from relatives, friends, acquaintances 2,8 Current account 2,5 A bank debit card 2,4 Loans from Mutual Help Associations 2,1 A mortgage loan 2,0 Buying on credit from the electrical appliances shops 2,0 Private pensions 1,9 A car loan 1,7 Loans from non-banking financial institutions 0,9 Investment funds 0,7 Investment in shares 0,6 Pawning goods 0,4 Loans from usurers 0,1 Base: Main sample, N=1432 The plans of the youngest (16 – 17 year’ old) potential clients of the financial market cover mostly the bank cards and various forms of short-term consumer crediting in order to purchase personal belongings (ranging from accessories to a vehicle). Judging by the citizens’ intentions the strengthening of the financial consumption in short-term could come from the current participant in the financial markets - working urban middle class (See Table 5.5). The plans of lower social groups to use financial services are considerably more limited. Table 5.5 Intention to use financial services in next two years Plans to use new services Does not plan to use new services Uses financial services at the 38% 62% Current use of financial moment services Does not use financial services at 24% 76% the moment Average for the country 32% 68% 40 6. KEY FINDINGS AND RECOMMENDATIONS The survey results can be summarized in the following key findings: The assessment of the personal financial situation of the Bulgarians is predominantly negative. The average personal income of the respondents for the month of April was 389 lv. (around 200 euro). In spite of the growth in the GDP and in the purchasing power in the last several years only 10% feel confident and free in their consumption. Every second respondent can meet his or her daily expenses, but experiences more or less serious difficulties when long-term goods need to be bought. 38% barely manage to satisfy their basic needs. The two main sources of income are the salary (46%) and the pension (26%). One-tenth of the adult population says they have no personal income. There is a strong differentiation of incomes as a result of several factors: level of education, age, place of residence and social status. The income gap between the respondents living in the capital city and the rural areas is almost 3:1. The majority (73%) of the respondents say they make financial plans for their monthly income and expenses. The daily practices of the households show, however, substantial differences in the people’s understanding on the accountancy of their financial resources. The largest part (39%) only have a general idea of their income and expenditure, 28% keep all records and account all their financial operations and another 22% simply keep the records without calculating what they earn and spend. In spite of the relatively low income level, the major part of the Bulgarian households (74%) manages to spend within their monthly income. Bigger savings and indebtedness are rather isolated cases. Two are the main factors that have strongest impact on the way the people manage their monthly expenses. The first is their financial situation. The second is their financial literacy. The better the citizens’ awareness of the financial products and services is, the more effective they are in handling their financial expenses. 8% of the country’s adult population manage to save some amount on their monthly income. The patterns of use of the unspent money show that the Bulgarians try to avoid the risk and prefer more secure options: bank deposits, keeping cash, buying consumer goods. The respondents from the bigger cities with higher education and income usually put their free money on a bank deposit and the people in the smaller towns with lower education and income keep it in cash. The young tend to spend it on consumer goods. A quarter of the households periodically run out of money before the end of the month. In such situation they normally cut down their expenses (78%) or borrow without interest from relatives or friends (75%). One-third, mostly residents of small settlements, shop on credit from the store. The share of people in need who turn to the financial institutions is much smaller. Even in the occasion of an unexpected significant reduction in their income (that happened to 36% of the households in the last three years) the Bulgarians avoid borrowing money. This is partly due to the cultural attitudes and partly – to institutions’ practices. Very often they reject loans to people in difficult economic situation. The financial strategies in cases of additional finance resources are similarly focused on short-term objectives – small savings, securing the education of the children and purchasing household goods. 90% of the respondents do not invest at all. The initially weak investment activity has further decreased as a result of the economic crisis. The share of those people who invest in real estate has reduced to a half; the investments in private pension funds have 41 shrunk from 5% to 1% and only the share of people with life insurance has remained more or less unchanged (5%). The economic crisis has also decreased the overall consumption of financial services, which has dropped back to its end-2005 level. In April 2010 54% of the population use some financial service. More active users are the residents of the bigger cities in the age group 31 – 60, with higher education and medium to high personal income. The short-term intentions for the next two years are mostly for renewed use of bank credit products – consumer loans (9%), insurances and credit cards (3%), followed by debit cards (2.4%). In spite of the positive trend in the last five years, the trust in the main financial institutions remains relatively low. A large part of the Bulgarians, especially the young generations, is not familiar with the activity of either the private financial institutions or the state regulatory bodies in the field. The only institution that enjoys stable trust (37%) is the BNB. Among the private institutions relatively the most popular and best trusted are the banks, followed by the insurance companies. The greatest is the distrust to the pawn shops. The people’s estimation of the quality of services offered by the financial institutions depend on the level they use them and they are aware of them. The most popular and best trusted are the services of the banks and insurance companies. The negative opinions of the services and products of leasing and securities companies, the private pension funds and the consumer crediting institutions prevail the positive ones two to three times. Between 42% and 52% of the general population and between 59% and 82% of the young people do not know them at all. The survey results show that, those who are excluded from the financial service market are more distrustful and critical in their attitude. Regardless of the declared distrust to most financial institutions and the Bulgarian economy in general, the expectations for stability of the Bulgarian currency (lev), and for the development of the financial markets remain positive. The attitudes to the market development of banks and insurance companies are predominantly optimistic. The fears are biggest towards the capital market and the non-banking financial institutions. Compared with five years ago, the confidence in the recovery and development of the markets most affected by the crisis – private pension funds and the capital market – is seriously shuttered. From expectations for growth and development they have converged into estimations of stagnation and decline. An indirect indicator of trust to the most developed and used financial sector, the banking, is the fact that the main factors for respondents when choosing a financial institution are the specific conditions it offers (64%). The reputation (fame) of the institution that during the years of bankruptcies and instability of the banking system were leading factors are now lagging far behind with about 4 time lower percentages. Judging by the current citizens’ intentions and plans, any short-term increase of the financial consumption would come mostly from the people with medium and higher status living in the urban areas and to a much lesser extent from the inclusion in this market of the poor, low educated and low qualified residents of the smaller towns and villages. The fact however that 25% of those not using any financial services intend to use such in the years to come shows, that the financial education of the “new users� is particularly important in order to strengthen their opportunities to use financial services without risking the financial stability of their families. 42 The self-assessment of the Bulgarian citizens of their financial literacy is predominantly negative (27% say they have unsatisfactory knowledge and skills in this matter and 20% declare they have no at all). More than 60% of the residents of villages, the eldest population and the younger generations (16-17), the less educated, low qualified and unemployed assess their financial knowledge as very poor. The objective indicators measuring the financial literacy correspond to this assessment. Only 2% of the interviewed were able to give correct answers to all the eight questions aiming to check the basic financial literacy of the population. The majority of the interviewed have the skills to calculate a more profitable discount (66%) and a simply interest amount (53%), but calculating a complex interest on a deposit or a loan creates serious difficulties for most of the respondents. Furthermore, although in the last five years the number of people aware of the role of the state in guaranteeing the bank deposits has increased, their proportion remains relatively low (increase from 17% to 21%). The majority of the respondents are not familiar with their rights when using financial services. The poor knowledge goes hand in hand with the distrust in the adequate reaction of the institutions to an emerging problem. 39% of the people are not convinced their problem could find a fast solution, and 40% it could find a fair solution. Of the opposite opinion are 2.5 times less persons. Therefore half of those who had encountered a problem did not undertake any action and a quarter simply gave up on the product. A complaint to the service provider or to a state body was filed by 18 percent of the affected. The low awareness and trust of the Bulgarian citizens towards the financial institutions and services justify the necessity for a financial literacy program. Depending on the interest in the tested financial topics three priority areas were outlined: 1/ Topics related to basic financial knowledge – household budgeting, planning a loan, consumer rights, the opportunities of bank services, principles of the pension system etc. A broad group of citizens are interested in the above topics, mostly people with a lower economic and educational status, not using actively any financial services; 2/ Information about specific products and services. Interest in them was demonstrated by the urban residents, employees, people with medium income and status, using some financial services who would like to develop their consumption. 3/ Acquiring skills for financial goal-setting and planning, private pension funds, opportunities to join the capital market. The latter are the focus of the citizens with the best knowledge of financial matters. For them the participation on this market is a form of investment. The main sources of information used by the Bulgarian citizens are: television (90%), radio stations (35%), newspapers (20%), and for 16-17 year’ old internet (74% - use it every day versus 29% for the main sample). In spite of the fast penetration of the world wide web in the country (its users have increased from 24% to 44% in five years), the huge part of the people with poor financial literacy, coming from the low-status social groups, do not use computers and internet and only pay attention to the television. Bulgarians are not active in the search of specific financial information. 35% never discuss financial services with friends and relatives. The financial institutions are as well not active in informing the people of their services and products. 57% have never talked with bank officers and 83% - with insurance agents. For the majority of the Bulgarians the financial information is too specialized and difficult to understand. Therefore, depending on the specific cases and needs, they use different sources of information. Thus for example those 53% of the Bulgarians who follow some 43 financial trends (mostly the fluctuations in the taxes, securities, pensions and inflation rate and, to a lesser extent, interest rates on loans and deposits), use mainly the media. When information about financial services is needed, the people prefer the brochures of the financial institutions and for a choice of a bank or other institution – “the advice of friends and relatives�. The absence of clear information preferences is evident in the people’s opinions of which will be the most appropriate training institution to implement a financial literacy program. The broad public has preference for the media and the state regulatory institutions, while the citizens more knowledgeable of financial matters are more in favor of the higher education institutions and independent financial consultants. 44 Recommendations Based on the analysis and the key findings of the survey three priority target groups of a Financial Literacy Program could be outlined. In the following table we summarize the specific topics of interest, the information channels and the approaches to each one of them: Groups: Youth (16-17) People with medium social status and People with low social status and income, employees, urban population income, low education, rural Approaches: population, pensioners and unemployed 1. Topic of interest What are the main bank services How can I get a consumer or mortgage loan, Family budget management, monthly Consumer rights and what to do when What insurance products to use financial accounts they are violated What indicators should one pay attention to, What are the main bank services How to differentiate between advertising when comparing the offers of various banks and Consumer rights and what to do when they and full objective information insurance companies, are violated What important information should one How to differentiate between advertising and What important information should one be be aware of, when signing a contract with full objective information aware of when signing a contract with a a financial institution Principles of the pension system financial institution Planning and accountancies when using a Private pension security funds and capital Principles of the pension system credit card market 2.Information Internet, social networks, higher Media – television, press, internet; brochures, Media – television, radio; visits of NGO’s channels education institutions consultants/experts representatives, financial officers 3. Rights when using This group has very little knowledge of For this group it is important to increase its Due to its weak participation in the market of financial services the financial institutions and in the same knowledge of: financial services, this group did not show time is a promising new participant on the ways and channels to respond to an any interest in those matters in general. The this market. It badly needs to become emerged problem information on these topics should be more familiar with the main consumer the consumer rights when using different accompanied by the explication how to use rights – which are the main regulatory financial services and institutions. the financial services. bodies, what are their powers, where and how to file a complaint; how to prepare it. 4.Strengthening the Providing general information about the More detailed information about the leasing Building awareness of what services are awareness of financial institutions – scope of work, companies, capital markets and non-banking offered by the different types of institutions. opportunities and services provided. consumer credit institutions. Increasing the access of the population living financial institutions Developing skills to search, to use and to More detailed and precise information about in small settlements to wider range of and services compare financial information from new services and combined use of products. financial services (opening branches and/or different sources Developing skills to search, to use and to mobile bankers). compare financial information from different Learning people to follow basic financial sources information – inflation rate, taxes, securities, interest rates. 45 5. Increasing the The trust level in this group is quite high. Development of special modules for increasing Presentation of successful cases of persons confidence in the The proper focus on this topic would be to the awareness and trust in the financial who have defended their rights when using provide information and build confidence institutions and especially the role of the state in financial services – what they exactly did. financial institutions to defend Consumers rights when using guaranteeing the citizens’ deposits. More information and explanation of the role products and services. Active behavior of the insurance companies and of the state in this field and which institutions the capital market to win the citizens’ trust. should be addressed in the case of emerging problem (this group is very often the victim of fraud because of its ignorance of the institutions). 6. Making more Special products tailored for the youth to More active policy of the financial institutions More direct access to the financial “user friendly� the teach them plan and monitor the risk when towards these groups – creation of consulting institutions using financial services web pages; modules “FAQ�, personal Training of the financial officers to provide use of financial Presentations of the bank products in the consultants. information to people with low education and services and the schools, the universities, etc. poor financial literacy, periodical communication with communication with them the institutions 7. Improving the The young are strongly inclined to spend This is a priority target group for raising the To pay priority attention to the pension investment culture their income on consumer goods and not to investment culture – binding the investments security, since a huge part of this group is not invest money. The proper focus for them with the insurance and pension plans. The secured, or invests only tiny sums. To explain on this topic would be how to plan, people from this group need more expert the risks of this practice. calculate and make investments with information and consultancy. potential higher profit 46 ANEXES 47 Financial literacy and financial services in Bulgaria NRCHEST |__|__|__|__|__| Use the questionnaire number from the sampling list May-June 2010 Interview result Interview operator name and signature |___| RI 1 interview accepted ........ 2 refusal 3 person who is not in the locality the entire month Voting section: |__|__|__||__|__|__| 4 person who is abroad 5 person who is in the locality but could not be contacted Position on the sampling list: |__|__|__| after 3 visits 6 person who is impossible to be contacted (ex. Interview date: |__|__| |__|__| 2010 deceased) 7 empty dwellings Interview start time: |__|__|:|__|__| 8 other situation, namely............................ Q45. As a whole, how satisfied are you with your life nowadays? Very satisfied Rather satisfied Rather dissatisfied Very dissatisfied know 4 3 2 1 9 Q46. How do you think your Much Better The same Worse Much life is going to be over the better worse know next 12 months? 5 4 3 2 1 9 Few times a Few times a Once a month or Never Daily week month less P1. read the national newspapers 4 3 2 1 0 P1a. read the local newspapers 4 3 2 1 0 P2. listen to the national radio stations 4 3 2 1 0 P2a. listen to the local radio stations 4 3 2 1 0 P3. watch the national TV programs 4 3 2 1 0 P3a. watch the local TV programs 4 3 2 1 0 PP6. Do you know to use a computer? 1. Yes 2. No For those who know to use the computer (Code 1 at PP6) Few times a Few times a Once a month or Daily Never week month less P6. use the Internet (including e-mail) 4 3 2 1 0 48 A) Attitudes and opinions regarding the financial market Very Much Average Little Very little much know T1. Commercial banks operating in Bulgaria 5 4 3 2 1 9 T2. Insurance companies 5 4 3 2 1 9 T3. Securities companies 5 4 3 2 1 9 T4. Mutual Help Associations 5 4 3 2 1 9 T5. Leasing companies 5 4 3 2 1 9 T6. Pawn shops 5 4 3 2 1 9 T7. Private pension funds 5 4 3 2 1 9 T8. Consumer credit companies (e.g. Jet Credit, 5 4 3 2 1 9 T.B.I, etc.) T9. Other, non-banking financial institutions 5 4 3 2 1 9 T9. The Bulgarian economy 5 4 3 2 1 9 T10. Bulgarian National Bank 5 4 3 2 1 9 T11. Financial Supervision Commission 5 4 3 2 1 9 T12. Consumer Protection Commission 5 4 3 2 1 9 T13. Bulgarian Deposit Insurance Fund 5 4 3 2 1 9 T14. The lev, the national currency 5 4 3 2 1 9 Generally, the quality of financial products Very services offered by the financial institutions Good Fair Bad Very bad good know AO1. Commercial banks operating in Bulgaria 5 4 3 2 1 9 AO2. Insurance companies 5 4 3 2 1 9 AO3. Mutual Help Associations 5 4 3 2 1 9 AO4. Securities companies 5 4 3 2 1 9 AO5. Private pension funds 5 4 3 2 1 9 A06. Leasing companies 5 4 3 2 1 9 A07. Consumer credit companies (e.g. Jet 5 4 3 2 1 9 Credit, T.B.I, etc.) It will remain stable Destabilization What are your expectations to the and develop in a No change and negative know positive direction development BG1. Banking sector in Bulgaria 1 2 3 BG2. Private Pension Funds 1 2 3 BG3. Insurance companies 1 2 3 BG4. The capital market 1 2 3 BG5. Consumer credit companies (e.g. Jet 1 2 3 Credit, T.B.I, etc.) 49 BG5. Who would you complain to, if you have a 1. To the bank management problem with your bank? 2. To a representative of the system of justice Multiple response 3. To Bulgarian National Bank 4. To the Bank Deposits Guarantee Fund 5. To the Association of Banks in Bulgaria 6. To the Consumer Protection Commission 7. To the Financial Supervision Commission 8. To the Payments Conciliation Committee 9. To some other state institution 10. To the media 11. Other (please 12. I will not complain to anyone AO8. If a conflict with a financial organization (bank, 5. I am completely sure insurance company or the like) arises regarding the provision 4. I am rather sure of financial services to you, how sure are you in the quick and 3. Fifty-fifty just resolution of the dispute? 2. I am not quite sure A. in short time |__| 1. I am not at all sure B. correctly |__| Use the corresponding code from the scale A09. What do you think deserves primary A.Bank B.Leasing C.Consumer attention when one has to compare between the company Credit Company credit institutions to choose the one where to take a credit from? 1. Reputation (fame) 1 1 1 2. View of the office 2 2 2 3. The way the personnel treat you 3 3 3 4. Credit interest rate and the credit cost 4 4 4 5. Gifts and advertising campaigns 5 5 5 6. Other.................................................. 6 6 6 9. 9 9 9 One answer only AO10. If you considered taking a credit from a 1. A credit in lev bank, what would you prefer? 2. A credit in a foreign currency Do not read answer 3 AO11. When taking a credit from a bank, what 1. Commissions charged by the bank would you give more importance to...? 2. Credit interest rates 3. Both, commissions charged by the bank and Do not read answer 5 credit interest rates 4. Annual Percentage Rate credit 50 AO12. When do you think buying on 1. If a shop has sales for the goods you need credit is justified? 2. If a person needs to pay for education which would allow to get a better paid job Here the credit refers to the use of a 3. If a person really needs a vacation but does not have credit card, the use of a consumer money at the moment credit or buying on credit (informally - 4. Other, namely....................................................... Do not read B) Information on Financial Services If Yes ISF1a. What is the main ISF1. What tendencies from the ones given below you source of information: Yes No 1. Advertising follow personally? 2.Newspapers, magazines, TV a. Changes in the property market 1 2 programs specializing on financial issues b. Changes of quotations and indices in the capital market 1 2 3. Specialized web sites c. Changes of interest rates on deposits 1 2 4. Bank officers, employees of d. Changes of interest rates on credits 1 2 insurance and management companies, e. Changes in the inflation rate 1 2 during a personal visit or by phone f. Changes in the level of public pensions, benefits and tax 5. Independent financial consultants or 1 2 brokers exemptions g. Price fluctuations for oil, gold, metals, etc. 6. Friends and acquaintances 1 2 ISF1X. |__| ISF1Y. |__| ISF2. Are you aware of the Consumer Protection Commission activity 9. 1. Yes 2. No concerning financial services? know ISF3. During the last 12 months, how many visits Few times a Few times a Once a / personal contacts or through phone did you Daily Never week month month or less have with...? a. bank officers or bankers 4 3 2 1 0 b. representatives of insurance companies / private 4 3 2 1 0 pension fund c. representatives of securities companies (for share 4 3 2 1 0 deals) d. independent financial advisers or brokers 4 3 2 1 0 e. representatives of a non-banking financial 4 3 2 1 0 institution , such as Jetcredit or T.B.I. Credit f. pawn houses personnel 4 3 2 1 0 ISF4. When you meet your relatives, colleagues, Few times a Few times Once a month Daily Never friends, how often do you talk about financial week a month or less institutions and services? 4 3 2 1 0 ISF5. In the last five years, how often do you compare the terms and conditions for provision of financial services by various companies before you buy such a service? 97. I do not use any 99. 4. Always 3. Sometimes 2. Rarely 1. Never financial service know Do not read 51 ISF6. In the last five years, what sources of information do you pay attention to when choosing a company to buy a service from (pension plan, investment, savings, credit, etc.)? Multiple Response 1. Advertisements 7. Advice of friends and relatives 2. Information materials of financial companies on 8. Internet resources their tariffs and services of various types 3. Advice of consultants working for providers of a 9. Education programs on the radio and television required service 4. Recommendations of independent financial 10. Specialized information center/ call center consultants or brokers 5. Analytical materials published in mass media 11. Other......................................... BG8. How would you prefer to receive information on financial matters? Multiple Response 1. Advertisements 7. Advice of friends and relatives 2. Information materials of financial companies on 8. Internet resources their tariffs and services of various types 3. Advice of consultants working for providers of a 9. Education programs on the radio and television required service 4. Recommendations of independent financial 10. Specialized information center/ call center consultants or brokers 5. Analytical materials published in mass media 11. Other......................................... C) Financial literacy CSF1. Do you consider yourself a financially literate person? 5. Excellent 4. Good 3. Satisfactory 2. Unsatisfactory 1. No knowledge and knowledge and knowledge and knowledge and knowledge and 9. skills skills skills skills skills CSF2. lev in a bank account at 8% annual interest rate. How much money will you have in your account in 2 years if you do not withdraw from or add to this account any money? 1. More than 18,000 BGN 2. Exactly 18,000 BGN 3. Less than 18,000 BGN 9. CSF3. lev in a bank account at 10% annual interest rate. The interest will be earned at the end of each year and will be added to the principal. How much money will you have in your account in 5 years if you do not withdraw either the principal or the interest? 1. More than 15,000 BGN 2. Exactly 15,000 BGN 3. Less than 15,000 BGN 9. CSF4. Imagine, than you deposited the money in a bank account at 8% interest rate, while the annual inflation rate was 10%. Do you think the money from your account can buy more or less, or the same amount of goods and services on average now as a year ago? 1. More than a year ago 2. The same 3. Less than a year ago 9. 52 CSF5. ome is twice as now, and the consumer prices also grow twofold. Do you think that in 2012 you will be able to buy more, less, or the same amount of goods and services as today? 1. More than today 2. Exactly the same 3. Less than today 9. CSF6. -set of the same model on sales in two different shops. The initial retail price of it was 1,000 lev. One shop offered a discount of 150 lev, while the other one offered a 10% discount. Which one is a better bargain a discount of 150 lev or 10%? 1. A discount of 150 lev 2. There are the same 3. A 10% discount 9. took a bank credit of 10,000 lev to be paid back during a year in equal monthly payments. The credit charge is 600 lev. Give a rough estimate of the annual interest rate on your credit. 1. 3% 2. 6% 3. 9% 4.12% 9. CSF8. If a citizen has a deposit in a Bulgarian bank and this bank becomes bankrupt, do you know what maximum level of a deposit is entirely insured by the government? 5. The government 1. The government 2. The equivalent 3. The equivalent 4. The equivalent 9. insures all bank does not insure the in lev of 30.000 in lev of 50.000 in lev of 100.000 deposits in their full bank deposits euro euro euro know amount CSF9. If a citizen owns shares in the unit fund, and the value of shares plummeted because of a large scale financial crisis, what is an approximate level of losses insured by the government? 1. The government does not insure 5. The government 2. The equivalent 3. The equivalent 4. The equivalent 9. against losses from insures all unit fund in lev of 30.000 in lev of 50.000 in lev of 100.000 the reduction of value shares in their full euro euro euro know of the unit fund amount shares CSF10. In which of the following 1. The bank which went bankrupt cases it is appropriate for the 2. Shares of a unit fund whose market value plunged government to compensate 3. Shares of a private company, and the value of shares dropped individuals for the losses on the significantly financial market? 4. Apartment prices dropped at the moment when one needs to sell them Multiple response 5. None of the above 99 ISF5A. Which of the following organizations do you see as the most suitable to deliver financial literacy program in Bulgaria? Choose up to 3 answers 1. A commercial bank 5. Government entities regulating these markets 2. Pension fund and/or insurance 6. Higher education institutions of economic and financial profile companies 3. Unit investment funds (management 7. Independent financial consultants companies) 4. Non-government organizations or 8. Mass media (journalists and TV presenters) public organizations involved in consumer 9. Other................................................................... rights protection 53 ISF6A. Which of the following aspects of managing personal finances do you Yes No believe that should necessarily be part of a financial training course for people...? know 1 2 9 1 2 9 c. How to plan purchases of durables (car, apartment, dacha 1 2 9 abilities to implement them d. 1 2 9 old age income e. Banking services current accounts, saving deposits, and plastic cards 1 2 9 f. Consumer credits to purchase goods and services 1 2 9 g. Mortgage loans 1 2 9 h. Insurance and insurance products 1 2 9 i. Private pension funds 1 2 9 j. Capital markets, stock and unit fund shares 1 2 9 k. Sources of information on financial services, how to interpret the information and how 1 2 9 to differentiate the advertising information from the objective one l. What parameters are used to compare the services offered by banks and other 1 2 9 financial companies m. What consumer rights protection laws are available and what one needs to do when 1 2 9 n. What information should a user pay attention to when signing a contract with a bank 1 2 9 or another financial company D) Managing household finances GF1. In your household do you usually have a financial plan, thus you 1. Yes 2. No 9. know how to cover current monthly expenses? know GF2. Is your household 1. Yes, we keep records of everything, entering all revenues and all expenditures used to keeping records 2. Yes, we keep records of everything, but not all revenues and expenditures are of income and entered expenditures? money is received and spent during a month. 4. No, we vague idea of how much money is received and spent during a month GF3. How often during the last 12 months your Very Very Always Sometimes rarely Never often know a. remained with unspent money from month to month 5 4 3 2 1 9 b. remained without money from month to month 5 4 3 2 1 9 c. spent in a month exactly the money earned in the 5 4 3 2 1 9 previous month If money spent = money earned always or very often (codes 5 and 4 at GF3c) GO TO GF4 If left without money always or very often (codes 5 and 4 at GF3b) GO TO GF3Y If money remains unspent always or very often (codes 5 and 4 at GF3a) GO TO GF3X 54 GF3X. When your household remains with unspent money from month to month, generally what do you do with them? Yes No Yes No a. We spend it on consumer goods 1 2 e. We lend it to friends or relatives 1 2 b. We keep it in cash 1 2 f. We invest it in our own business 1 2 c. We deposit it or do not withdraw it from 1 2 g. We invest it in gold and jewellery 1 2 the account d. We invest it in the capital market 1 2 h. Other....................................................... 1 2 GF3Y. When your household runs out of money from month to month, generally, what do you do? Yes No Yes No a. We cut down expenses 1 2 g. We spend our savings in lev 1 2 b. We borrow money from relatives, h. We exchange in lev our savings in foreign 1 2 1 2 friends and acquaintances without interest currency c. We borrow money from relatives, 1 2 i. We borrow from a bank 1 2 friends and acquaintances with interest d. We buy on credit (informally - 1 2 j. We use a credit card 1 2 from shops e. We borrow from non-banking financial 1 2 k. We work extra hours or do additional jobs 1 2 institutions (Jet Credit, T.B.I., etc.) f. We pawn jewellery or other goods 1 2 l. Other....................................................... 1 2 GF4. Please tell us 1. Yes, because someone in the household has lost his job due to financial crisis whether there are such 2. Yes, because of unfortunate series of events (a sudden death or loss of a job by a households among your breadwinner, a divorce, an accident, etc.) acquaintances or friends 3. Yes, because of a wrong money management or lack of ability to plan its finances who used to be relatively (they were buying too much, took too many credits, did not plan their future, lived for well-to-do and then the moment, etc.) suddenly encountered 4. Yes, other............................................................................... financial problems? If so, 5. I do not know such families then what was the reason in your opinion? GF5. Did your household experience an unexpected significant 1. Yes 2. No 9. reduction of your income over the last three years? know GO TO GF6 If Yes (code 1 at GF5) GF5A. What was the reason for this reduction of your income? Yes No Yes No a. Loss of employment due to economic 1 2 d. Breakup, separation or divorce 1 2 crisis b. Loss of employment because of an 1 2 e. Retirement of the main breadwinner 1 2 accident, illness or disability c. Considerable reduction of salary, or 1 2 f. Other........................................................... 1 2 delays with salary payment 55 GF5B. How did you (your family) manage to make the ends meet when your income suddenly dropped? Yes No Yes No a. We cut down expenses 1 2 g. We spend our savings in lev 1 2 b. We borrow money from relatives, h. We exchange in lev our savings in foreign 1 2 1 2 friends and acquaintances without interest currency c. We borrow money from relatives, 1 2 i. We borrow from a bank 1 2 friends and acquaintances with interest d. We buy on credit (informally - ) 1 2 j. We use a credit card 1 2 from shops e. We borrow from non-banking financial 1 2 k. We work extra hours or do additional jobs 1 2 institutions (Jet Credit, T.B.I., etc.) f. We pawn jewellery or other goods 1 2 l. Other....................................................... 1 2 Very Very GF6. How often during the last 12 months your Always Sometimes Never often rarely know household had to borrow to pay back your other debts? 5 4 3 2 1 9 GF6a. If tomorrow, your household incomes wo quarter for a period of 3 months or more, how would you manage? yes no yes No 0. Nothing special because our household has sufficient savings and 1 2 6.We will use a credit card 1 2 incomes 1.We will cut down expenses and save 1 2 7.We will pawn jewellery or other goods 1 2 2.We will borrow money from relatives, 1 2 8.We will spend our savings in lev 1 2 friends and acquaintances 1 2 9.We will work extra hours/additional jobs 1 2 shops 4. We will take a bank loan 1 2 10.We will apply for social benefits 1 2 5. We will borrow from non-bank credit 1 2 11.Other......................................................... 1 2 institution (Jet Credit, T.B.I, etc.) GF6b. How long do you think you can manage in this situation? 1) less than 2) one 3) 1-3 4) 3-6 5) 6-12 6) One year 9) a week week-less months months months or more know than 1 month GF7A. Comparing to your total monthly household income, approximately how much are your debts? These are non-serviced debts (e.g. non-serviced credits from non-bank financial institutions, public utilities, debts from friends or relatives, from shops)? Exclude loans with collateral to banks and leasing for cars or properties 2. approx. 1-2 5. approx. 7- 9. 1. Less than the 3. approx. 2- 4. approx. 4- 6. More than the monthly 12 monthly monthly income 3 6 annual income incomes incomes know 56 GF8. money in the amount of 50,000 lev, meaning approximately 25,000 euro. What would you do with this money most likely? Choose maximum 3 answers, Show card 1 2 -term savings to accumulate money for more expensive things (a house, apartment, 3 expensive car, etc.) ial events, for a rainy day, etc.) 4 5 6 7 on/profession 8 9 10 11 pension fund) ewels and the like 12 13 14 like) Other........................................................................................................................... 15 99 GF9. Does your 1. I try to save something and spend the rest of the money on the everyday household usually needs manage your everyday 2. I spend money on the everyday needs and save the rest revenues? 3. I spend all the money on everyday needs and do not save anything If household saves (codes 1 and 2 at GF9) GF9A. Comparing to your total monthly household income, approximately how much are your savings? 1. Less than 2. approx. 1- 5. approx. 7- 6. More than 9. 3. approx. 2- 4. approx. 4- the monthly 2 monthly 12 monthly the annual 3 6 income incomes incomes income know GF9B. What are the reasons to have made savings? Multiple response 1. For a rainy day, for unexpected expenses 6. I like saving rather than spending money 2. For retirement 7. This is a family tradition 3. To leave something for children to inherit 8. Other............................................ 4. To get income in the form of interest, increased 99. market value of assets, etc. 5. To increase my living standards in the future 57 If household does not make savings (code 3 at GF9) GF10. What are the reasons? Multiple response 4. I cannot resist the temptation to spend the financial institutions money on shopping 2. I cannot do this because of a low income 5. Other....................................... BG9. Have you personally invested in 1. Securities the last five years in? 2. Real estate 3. Pension fund 4. Life insurance 5. Other/please specify/ 6. I have not invested any money BG11. Which of these investment options do you consider the most profitable? (arrange them in an order of priority, marking with 1 the most profitable, and with 4 the least profitable) BG12. And which one of them has the highest risk? (arrange them in an order where 1 has the highest risk, and 4 has the lowest risk) BG11. Most BG12. Highest profitable risk 1. Securities 2. Real estate 3. Pension fund 4. Life insurance 5. Other/please specify/ (only if code 5 at BG9) Don t know 99 99 GF 14. What services of the above would you like to know better or get additional information about? a. Consumer credit b. Bank current account c. Band deposit account d. Currency exchange e. Credit card f. Bank card g. Mortgage loan h. Insurance policies i. Investments in unit funds j. Investments in companies' stock k. Private pension fund policies l. None of the above m. I find it difficult to answer this question 58 E) Attention! Section A to be completed with data regarding all household members. The data regarding the respondent (the person mentioned in the sampling list) is written in the first line of the table. (CPERS = 01). Then, persons aged 15+ and children aged 0-14 are registered. 4. Ethnicity 5. Highest level of education 6. Main occupational status in the present A achieved 1.Bulgarian 1. No school 1. Employee 2.Turkish 2. Primary (1- 4 classes) 2. Other status of employed persons (daily worker, black 3.Roma 3. Gymnasium (5-8 classes) market worker etc.) 4.Armenian 4. First level of high school (9-10 3. Business owner 5.Other classes) 4. Self-employed person in non-agricultural activities 5. General high school (9-12 classes) (include PFA, AF, liberal professionals) 6. Professional high school (9-12 5. Self-employed person in agricultural activities classes) 6. Family helper 8. College degree 7. Registered as unemployed 9. University (including Master degree)8. Unregistered unemployed (no longer receives an 10. Doctoral studies unemployment allowance / support allowance and looks for work) 9. Retired - due to age 10. Retired - other causes 11. Pupil, student 12. Housewife Attention! Mention the highest degree 13. Person unable to work achieved and not ongoing studies. 14. Another status of non working person (pre-school, dependant) 1 2 3 4 5 6 Sex Age Nationality Highest level of education Main occupational status in the code achieved present 1-M 2-F CPERS SEX AGE NAT NIVE STOCUPAN Respondent (01) |__|__| 02 |__|__| 03 |__|__| 04 |__|__| 05 |__|__| 06 |__|__| 07 |__|__| 08 |__|__| 09 |__|__| 10 |__|__| 11 |__|__| 12 |__|__| 59 Attention! Section B to be completed only for the persons aged 15+, members of the household. B 7. Main occupation FOR PERSONS WITH OCCUPATION ONLY (codes 1 to 6, column 6) 1. Managers, business owners, entrepreneurs, mayor, local counsellor 2. Intellectual occupations: teacher, physician, economist, lawyer, etc. 3. Technicians or foremen: nurses, primary school teachers, accountant with secondary studies, etc. 4. Clerks: secretary, librarian, cashier etc. 5. Workers in services and commerce: train conductor, fire fighter, policeman etc. 6. qualified farmers or self-employed in agriculture 7. Craftsmen and maintenance mechanics: builders, carpenters, plumbers, electricians, painters, mechanics, welders, blacksmiths, locksmith, textile workers, workers in the leather or food industry etc. 8. Skilled workers and operators 9. Unskilled workers in non-agricultural sectors: doormen, janitors, dustmen, sweepers, maid, etc. 10. Daily workers/black market workers in agriculture, silviculture and fishery 11. Daily workers/black market workers in non-agricultural activities 12. Military officer 1 7 8 Main occupation Main source of 8. Main source of income code income 0. No income 1. Salary/ wages (including wages for medical leave, CPERS OCP VEN maternity leave and in-kind incomes) 3. Income from self-employed authorized non-agricultural Respondent activities (including profit, incomes from crafts, services, (01) liberal professions, rights of intellectual property) 02 4. Daily paid or occasional incomes, inclusively black market employment 03 5. Old age pension 6. Disability, illness, veteran pension 04 7. Agricultural (CAP) pension 8. Unemployment/redundancy benefit 05 9. Scholarship 06 10. Child allowance 11. The minimum guaranteed income, social allowance 07 12. Other social transfers (incl. emergency benefits, allowance for fire wood, food, other assistance DPC) 08 13. Money received from relatives who work, permanently or temporarily, abroad 09 14. Private transfers (e.g. child support, donations from parents/ other persons) 10 15. Income from investments, savings or proprieties 16. Income from self-employment agricultural activities 11 17. Other 12 60 VENG. Last month (April 2010), the total amount received from salaries, pensions, child (including the respondent) was approximately... I__I__I__I__I__I BGN 0. No income 8. 9. No answer VENP. And the total amount received by the respondent (CPERS=01) I__I__I__I__I__I BGN 0. No income 8. 9. No answer F) Use of the financial services: What type of financial services do you use? Attention! Section C to be completed only for the persons aged 15+, members of the household. In case of bank deposits/ insurance policies made by the parents for their children aged under 15, the code C List of financial services 1. Consumer loan 11. Loans from Mutual Help 15. Loans from usurers 2. Mortgage loan Associations 16. Loans from relatives, friends, 3. Current account 12. Car/ terrain loans acquaintances. 13. Pawning goods 17. Buying on credit (informally - 4. Bank deposit 14. Loans from Jet Credit, T.B.I or ) from food shops 5. Bank debit card other non-banking financial 18. Buying on credit from the 6. Bank credit card institutions electrical appliances shops 7. Insurance policies 8. Private pensions Attention! 9. Investments in shares Use the codes corresponding to each financial service used in the 10. Investment funds present by each person 15 years old and over. 1 9 10 11 12 13 14 Financial Financial Financial Financial Financial Financial code service 1 service 2 service 3 service 4 service 5 service 6 CPERS SF1 SF2 SF3 SF4 SF5 SF6 Respondent (01) 02 03 04 05 06 07 08 09 10 11 12 61 If the respondent has insurance policies USF1a. What type of insurances policies do you have? Yes No Yes No a. Life insurance 1 2 d. Car insurance - CASCO 1 2 b. Medical insurance 1 2 e. Terrains and/ or crop insurance 1 2 c. House insurance 1 2 f. Other.......................................... 1 2 USF1b. Did you buy the insurance policy/ies on 1. Bought them on my own your own or they were imposed with other 2. Imposed with other financial services financial services (credit, leasing, etc.) 3. Both situations, only if he/she has more than one insurance policy If the respondent has loans Data regarding the loans a. b. c. Loan 1 Loan 2 Loan 3 USF2. Name of the bank or non-banking financial institution USF3. Loan reimbursement period (no of months) USF4. Loan type 1. Consumer 2. Mortgage USF5. Currency 1. Lev 2. Foreign currency USF6. Interest rate 1. Fixed 2. Variable USF7. Now, do you have any delays in paying your monthly instalments? 1. Yes 2. No USF8. Do you face any difficulties paying the monthly instalments? 1. Yes 2. No For everybody USFAV. and USFAL. How do you assess your insurance policies Life House insurance insurance My life /house are insured for the required amount 1 1 My life /house are insured for some amount but in my opinion it is lower 2 2 than required My life /house need to be insured, but it is too expensive 3 3 My life /house need to be insured, but I 4 4 companies will keep their contract terms and pay the insured amounts 5 5 6 6 USFCHOICE. The financial 1. I chose it on my own, the bank, insurance company, etc. institutions you work with 2. It was imposed from work (salary card, pension card etc.) were imposed or did you 3. I had access only to this financial institution ( in my town, in my choose them on your own? neighborhood etc.) 4. Other ....................................................................................... 97. Multiple response 62 For all respondents USF8. In the last 5 years, did you happen to buy 1. Yes 2. No 7. Does not use 9. a financial service which you were sorry about any Financial later as the service did not meet your needs? GO TO Service know VENSUB (First line in table C is empty) If Yes (code 1 at USF8) USF8A. What kind of service was it? Multiple response 1. A consumer loan 11. Loans from Mutual Help 15. Loans from usurers 2. A mortgage loan Associations 16. Loans from relatives, 3. Current account 12. A car loan friends, acquaintances. 13. Pawning goods Buying on credit (informally - 4. Bank deposit 14. Loans from Jet Credit, T.B.I or ) from food shops 5. A bank debit card other non-banking financial 18. Buying on credit from the 6. A bank credit card institutions electrical appliances shops 7. An insurance policy 8. Private pensions 9. Investment in shares 10. Investment funds USF8B. What did you do after you discovered the problem?  Multiple response 3. I submitted a grievance to the company which sold me the product 1. Nothing 4. I submitted a claim to the appropriate government 2. I stopped using the service before the authority contract expired (closed the deposit, account, sold the unit shares, canceled 5. Other............................................... the insurance contract, etc.) VENSUB. 1. We hardly make the ends meet. Which of the 2. We have enough money to buy food but buying clothes causes financial difficulties. descriptions 3. We have enough money to buy food and clothes. But purchase of durable goods (a TV- comes closest set, a refrigerator) is problematic. to your 4. We have no trouble buying durable goods, but purchase of a really expensive thing like a car is hard for us. income 5. We can afford quite expensive things. nowadays? USF10. From the folowing financial services, which ones do you plan to use the the next 2 years? Multiple response 1. A consumer loan 11. Loans from Mutual Help 15. Loans from usurers 2. A mortgage loan Associations 16. Loans from relatives, 3. Current account 12. A car loan friends, acquaintances. 4. Bank deposit 13. Pawning goods 17. Buying on credit (informally 5. A bank debit card 14. Loans from Jet Credit, T.B.I or - 6. A bank credit card other non-banking financial 18. Buying on credit from the 7. An insurance policy institutions electrical appliances shops 8. Private pensions 9. Investment in shares 10. Investment funds 63 UTIL. Does your household have...? Yes No Yes No a. Car 1 2 c. Computer (PC) 1 2 b. Landline telephone 1 2 d. Access to Internet 1 2 1. in a central area of the village/town/city 1. in a good area 2. in a peripheral area of the village/town/city 2. in a poor area 3. in other area of the village/town/city 3. in a bad-famed area 4. in a rather good area D1. After 2000 Yes No a. Did you travel abroad? 1 2 b. Did you work abroad? 1 2 c. Did anyone else from your household work abroad? 1 2 D2. After graduating did you take any other courses for 1. Yes 2. No 7. N/A specialization / requalification? (she/he is in school now) D3. Beside your mother language, what other languages do you speak well enough to take part in a conversation? Multiple response 1. Bulgarian 3. Romani 5. English 7. Russian 9. Italian 2. Turkish 4. German 6. French 8. Spanish VERIF. Alpha Research could check the way I did the interview. Would you agree to give your phone number where Alpha Research could make the verification? Interview end time: |__|__|:|__|__| 64 65 Sample Total Main sample Booster Col % Col % Col % Very dissatisfied 15,6% 3,8% 14,2% Rather dissatisfied 35,2% 16,7% 33,1% As a whole, how satisfied are you with Rather satisfied 44,2% 61,8% 46,2% your life nowadays? Very satisfied 2,1% 10,8% 3,1% Don't know 2,9% 7,0% 3,4% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Much worse 5,6% 1,1% 5,1% Worse 22,7% 8,1% 21,0% How do you think your life is going The same 37,6% 28,5% 36,6% to be over the next 12 months? Better 27,5% 46,2% 29,7% Much better 2,6% 9,1% 3,3% Don't know 4,0% 7,0% 4,3% Total 100,0% 100,0% 100,0% How often do you…… Sample Total Main sample Booster Col % Col % Col % Never 18,1% 33,9% 19,9% Once a month or less 16,5% 24,7% 17,4% How often do you read the national Few times a month 20,5% 23,7% 20,9% newspapers? Few times a week 24,5% 12,9% 23,2% Daily 20,4% 4,8% 18,6% Never 40,0% 54,3% 41,7% Once a month or less 21,7% 23,1% 21,9% How often do you read the local Few times a month 17,5% 14,0% 17,1% newspapers? Few times a week 15,4% 6,5% 14,4% Daily 5,4% 2,2% 5,0% Never 22,1% 24,7% 22,4% Once a month or less 9,2% 8,6% 9,1% How often do you listen to the national radio Few times a month 12,1% 16,7% 12,6% stations? Few times a week 22,1% 22,6% 22,1% Daily 34,5% 27,4% 33,7% Never 44,3% 43,5% 44,2% Once a month or less 12,4% 8,6% 11,9% How often do you listen to the local radio Few times a month 12,6% 14,5% 12,8% stations? Few times a week 16,0% 11,8% 15,5% Daily 14,8% 21,5% 15,6% Never 1,2% 3,2% 1,4% Once a month or less ,4% 1,1% ,5% How often do you watch the national TV Few times a month 1,4% 2,7% 1,5% programs? Few times a week 7,3% 14,5% 8,2% Daily 89,7% 78,5% 88,4% Never 36,3% 39,2% 36,7% Once a month or less 7,8% 10,8% 8,2% How often do you watch the local TV Few times a month 11,6% 13,4% 11,8% programs? Few times a week 19,8% 14,0% 19,2% Daily 24,4% 22,6% 24,2% Total 66 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Do you know to use Yes 45,1% 88,7% 50,1% a computer? No 54,9% 11,3% 49,9% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Never 1,7% ,6% 1,5% Once a month or less 3,3% 1,2% 2,8% How often do you use the Few times a month 7,7% 1,8% 6,5% Internet (including e-mail)? Few times a week 22,1% 10,9% 19,9% Daily 65,2% 85,5% 69,3% Total 100,0% 100,0% 100,0% Computer users, N=811 67 How much do you trust……? Sample Total Main sample Booster Col % Col % Col % Does not trust at all 19,6% 7,5% 18,2% Little 16,2% 5,9% 15,0% Commercial banks operating in Average 32,9% 23,7% 31,8% Bulgaria Much 17,6% 9,1% 16,6% Very much 3,2% 8,1% 3,8% Don't know 10,5% 45,7% 14,5% Does not trust at all 25,9% 7,0% 23,7% Little 20,1% 10,2% 19,0% Average 26,3% 19,4% 25,5% Insurance companies Much 11,2% 6,5% 10,7% Very much 2,6% 4,8% 2,8% Don't know 13,8% 52,2% 18,2% Does not trust at all 31,1% 7,5% 28,4% Little 15,9% 5,9% 14,8% Average 14,5% 10,2% 14,0% Securities companies Much 5,4% 2,2% 5,1% Very much ,8% 4,8% 1,3% Don't know 32,1% 69,4% 36,4% Does not trust at all 18,1% 5,4% 16,6% Little 9,9% 5,4% 9,4% Average 16,8% 5,9% 15,6% Mutual Help Associations Much 13,8% 3,8% 12,6% Very much 4,4% 2,7% 4,2% Don't know 37,0% 76,9% 41,6% Does not trust at all 28,1% 10,2% 26,1% Little 14,9% 7,5% 14,0% Average 16,3% 14,0% 16,0% Leasing companies Much 8,7% 6,5% 8,4% Very much 2,3% 3,8% 2,5% Don't know 29,7% 58,1% 33,0% Does not trust at all 48,8% 18,3% 45,3% Little 12,4% 7,5% 11,8% Average 9,3% 14,0% 9,8% Pawn shops Much 3,0% 4,3% 3,2% Very much 1,0% 3,8% 1,4% Don't know 25,5% 52,2% 28,6% Does not trust at all 36,5% 10,8% 33,6% Little 14,9% 4,8% 13,8% Average 12,2% 7,5% 11,6% Private pension funds Much 4,5% 3,8% 4,4% Very much ,9% 3,2% 1,2% Don't know 30,9% 69,9% 35,4% Does not trust at all 36,5% 11,3% 33,6% Little 14,2% 6,5% 13,3% Consumer credit companies (e.g. Average 15,6% 10,8% 15,0% Jet Credit, T.B.I, etc.) Much 6,6% 8,6% 6,8% Very much 1,3% 4,3% 1,7% Don't know 25,8% 58,6% 29,6% Does not trust at all 23,5% 7,0% 21,6% Little 20,7% 10,2% 19,5% Average 30,9% 23,1% 30,0% The Bulgarian economy Much 9,0% 10,2% 9,1% Very much 1,9% 3,8% 2,1% Don't know 14,0% 45,7% 17,7% Total 100,0% 100,0% 100,0% 68 And how much do you trust……? Sample Total Main sample Booster Col % Col % Col % Does not trust at all 9,1% 3,8% 8,5% Little 11,4% 4,8% 10,6% Average 33,4% 24,7% 32,4% Bulgarian National Bank Much 27,1% 14,0% 25,6% Very much 9,6% 9,7% 9,6% Don't know 9,4% 43,0% 13,3% Does not trust at all 15,5% 7,0% 14,5% Little 12,8% 5,9% 12,1% Financial Supervision Average 23,3% 15,6% 22,4% Commission Much 10,8% 2,7% 9,9% Very much 3,8% 5,9% 4,1% Don't know 33,7% 62,9% 37,0% Does not trust at all 18,6% 9,1% 17,5% Little 16,2% 8,6% 15,3% Consumer Protection Average 25,9% 17,2% 24,9% Commission Much 13,1% 7,0% 12,4% Very much 4,4% 7,5% 4,8% Don't know 21,8% 50,5% 25,1% Does not trust at all 16,6% 6,5% 15,4% Little 16,6% 8,1% 15,6% Bulgarian Deposit Insurance Average 21,5% 11,3% 20,3% Fund Much 12,6% 7,0% 12,0% Very much 2,7% 5,9% 3,1% Don't know 30,0% 61,3% 33,6% Does not trust at all 11,7% 4,3% 10,9% Little 10,7% 5,9% 10,1% The lev, the national Average 31,7% 19,4% 30,3% currency Much 25,6% 17,7% 24,7% Very much 8,0% 12,9% 8,5% Don't know 12,4% 39,8% 15,5% Total 100,0% 100,0% 100,0% 69 Generally, the quality of financial products services offered by the financial institutions in Bulgaria is……? Sample Total Main sample Booster Col % Col % Col % Very bad 3,5% 1,1% 3,2% Bad 8,8% 5,4% 8,4% Commercial banks operating in Fair 40,2% 18,8% 37,7% Bulgaria Good 22,6% 11,8% 21,4% Very good 2,9% 3,8% 3,0% Don't know 22,0% 59,1% 26,3% Very bad 4,5% 1,1% 4,1% Bad 15,3% 4,8% 14,1% Fair 33,4% 15,6% 31,4% Insurance companies Good 14,9% 8,1% 14,1% Very good 2,1% 3,8% 2,3% Don't know 29,7% 66,7% 34,0% Very bad 4,0% 1,6% 3,7% Bad 6,9% 2,7% 6,4% Fair 20,3% 6,5% 18,7% Mutual Help Associations Good 14,8% 2,7% 13,4% Very good 4,3% 4,3% 4,3% Don't know 49,7% 82,3% 53,5% Very bad 6,4% 2,2% 5,9% Bad 13,7% 4,8% 12,7% Fair 20,5% 8,1% 19,0% Securities companies Good 6,0% 3,2% 5,7% Very good ,9% 3,8% 1,2% Don't know 52,5% 78,0% 55,4% Very bad 8,6% 2,7% 7,9% Bad 17,2% 8,1% 16,1% Fair 19,3% 5,4% 17,7% Private pension funds Good 5,4% 3,2% 5,1% Very good 1,0% 2,7% 1,2% Don't know 48,5% 78,0% 51,9% Very bad 8,1% 1,6% 7,4% Bad 15,3% 7,5% 14,4% Fair 21,2% 11,3% 20,0% Leasing companies Good 8,5% 6,5% 8,3% Very good 1,5% 3,8% 1,8% Don't know 45,4% 69,4% 48,1% Very bad 10,4% 5,4% 9,8% Bad 15,6% 4,8% 14,4% Consumer credit companies (e.g. Jet Fair 21,9% 7,5% 20,3% Credit, T.B.I, etc.) Good 9,0% 8,1% 8,9% Very good 1,3% 3,2% 1,5% Don't know 41,8% 71,0% 45,1% Total 100,0% 100,0% 100,0% 70 What are your expectations to the development of……? Sample Total Main sample Booster Col % Col % Col % NA 5,6% 14,0% 6,6% It will remain stable and 28,8% 26,3% 28,6% develop in a positive direction Banking sector in Bulgaria No change 54,9% 52,2% 54,6% Destabilization and negative 10,7% 7,5% 10,3% development NA 10,7% 17,2% 11,4% It will remain stable and 13,9% 14,5% 14,0% develop in a positive direction Private Pension Funds No change 54,1% 53,8% 54,1% Destabilization and negative 21,3% 14,5% 20,5% development NA 8,8% 15,1% 9,5% It will remain stable and 18,6% 20,4% 18,9% develop in a positive direction Insurance companies No change 58,9% 53,8% 58,3% Destabilization and negative 13,7% 10,8% 13,3% development NA 12,4% 19,4% 13,2% It will remain stable and 16,6% 15,1% 16,4% develop in a positive direction The capital market No change 50,6% 54,3% 51,1% Destabilization and negative 20,4% 11,3% 19,3% development NA 9,9% 16,7% 10,7% It will remain stable and 17,3% 18,3% 17,4% Consumer credit companies develop in a positive direction (e.g. Jet Credit, T.B.I, etc.) No change 52,9% 52,2% 52,8% Destabilization and negative 19,8% 12,9% 19,0% development Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % To the bank management 62,2% 51,1% 60,9% To the media 17,5% 21,5% 18,0% I will not complain to anyone 17,7% 18,3% 17,7% To a representative of the system of justice 12,3% 11,8% 12,2% To the Consumer Protection Commission 12,8% 7,0% 12,2% To the Financial Supervision Commission 5,9% 3,8% 5,7% Who would you complain to, if you To the Bank Deposits Guarantee Fund 4,6% 4,3% 4,6% have a problem with your bank? To Bulgarian National Bank 4,0% 3,2% 3,9% To some other state institution 2,4% 2,2% 2,4% To the Association of Banks in Bulgaria 1,7% 3,2% 1,9% Other ,3% ,5% ,3% To the Payments Conciliation Committee ,2% ,2% I will change the bank ,1% ,1% Parents ,5% ,1% 71 If a conflict with a financial organization (bank, insurance company or the like) arises regarding the provision of financial services to you, how sure are you in the quick and just resolution of the dispute? Sample Total Main sample Booster Col % Col % Col % I am not at all sure 12,8% 10,8% 12,5% I am not quite sure 26,3% 16,1% 25,2% If a conflict with a financial organization (bank, insurance company or the like) arises Fifty-fifty 29,7% 25,8% 29,3% regarding the provision of financial services to you, how sure are you in the quick and just resolution of the dispute? - in short time I am rather sure 14,6% 10,2% 14,1% I am completely sure 2,6% 4,3% 2,8% Don't know 14,0% 32,8% 16,1% I am not at all sure 14,2% 9,1% 13,6% I am not quite sure 25,8% 16,7% 24,8% If a conflict with a financial organization (bank, insurance company or the like) arises Fifty-fifty 28,8% 22,6% 28,1% regarding the provision of financial services to you, how sure are you in the quick and just resolution of the dispute? - correctly I am rather sure 14,3% 10,2% 13,8% I am completely sure 2,0% 4,3% 2,3% Don't know 14,8% 37,1% 17,4% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Credit interest rate and the credit cost 66,4% 51,1% 64,6% Reputation (fame) 15,9% 17,2% 16,1% Don't know 13,8% 23,1% 14,9% What do you think deserves primary attention when one has to compare between the banks to he way the personnel treat you 2,4% 5,9% 2,8% choose the one where to take a credit from? View of the office ,6% 2,2% ,7% Gifts and advertising campaigns ,5% ,5% ,5% Other ,3% ,3% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Credit interest rate and the credit cost 54,6% 37,6% 52,7% Don't know 29,1% 39,8% 30,3% Reputation (fame) 9,1% 12,4% 9,5% What do you think deserves primary attention when one has to compare between the leasing companies to choose he way the personnel treat you 3,2% 3,2% 3,2% the one where to take a credit from? View of the office 1,8% 3,8% 2,0% Gifts and advertising campaigns 1,6% 3,2% 1,8% Other ,5% ,4% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Credit interest rate and the credit cost 54,7% 43,5% 53,5% Don't know 32,8% 37,6% 33,4% What do you think deserves primary attention when Reputation (fame) 7,5% 11,8% 8,0% one has to compare between consumer credit he way the personnel treat you 2,5% 2,7% 2,5% companies to choose the one where to take a credit from? Gifts and advertising campaigns 1,4% 2,7% 1,5% Other ,6% 1,1% ,6% View of the office ,4% ,5% ,4% Total 100,0% 100,0% 100,0% 72 Sample Total Main sample Booster Col % Col % Col % A credit in lev 56,2% 35,5% 53,8% If you considered taking a credit from A credit in a foreign currency 9,1% 16,7% 10,0% a bank, what would you prefer? I wouldn't take any credit 27,1% 24,7% 26,8% Don't know 7,5% 23,1% 9,3% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Commissions charged by the bank ,7% 1,6% ,8% Credit interest rates 36,7% 32,8% 36,3% When taking a credit from a bank, what Both, commissions and credit interest rates 26,6% 16,7% 25,5% would you give more importance to...? Annual Percentage Rate 4,7% 4,8% 4,7% I wouldn't' take any credit 23,3% 18,3% 22,7% Don't know 8,0% 25,8% 10,0% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % If a shop has sales for the goods you need 10,5% 4,8% 9,9% To pay for education to get a better paid job 32,4% 51,6% 34,6% If a person really needs a vacation 2,6% 2,2% 2,5% Other, namely 2,2% ,5% 2,0% I wouldn't buy on credit in any circumstance 20,3% 8,6% 18,9% Don't know 16,9% 24,7% 17,8% For medical treatment 5,2% 2,2% 4,9% For house purchase, property 1,9% 1,6% 1,9% When do you think buying For working capital or investment in business 2,3% 1,1% 2,2% on credit is justified? For repairs, insulation, windows 1,1% 1,0% Household electric appliances and machinery ,4% ,4% Helping the children ,1% ,1% In financial difficulties, urgent needs 2,9% 1,6% 2,7% Education of children ,4% ,4% It depends on the case and the person ,3% ,3% For a vehicle ,3% 1,1% ,4% To cover debt ,1% ,1% Total 100,0% 100,0% 100,0% 73 What tendencies from the ones given below you follow personally? Sample Total Main sample Booster Col % Col % Col % Yes 22,7% 5,9% 20,8% Changes in the property market No 77,3% 94,1% 79,2% Yes 4,3% 1,1% 3,9% Changes of quotations and indices in the capital market No 95,7% 98,9% 96,1% Yes 23,3% 5,4% 21,3% Changes of interest rates on deposits No 76,7% 94,6% 78,7% Yes 27,9% 8,1% 25,6% Changes of interest rates on credits No 72,1% 91,9% 74,4% Yes 29,1% 12,4% 27,1% Changes in the inflation rate No 70,9% 87,6% 72,9% Changes in the level of public pensions, benefits and tax Yes 33,1% 6,5% 30,0% exemptions No 66,9% 93,5% 70,0% Yes 12,6% 10,8% 12,4% Price fluctuations for oil, gold, metals, etc. No 87,4% 89,2% 87,6% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Press, TV programs specializing on financial 53,4% 45,0% 53,0% issues Friends and acquaintances 19,1% 15,0% 18,9% What are the two main sources of Specialized web sites 17,9% 30,0% 18,5% information: Advertising 11,3% 30,0% 12,1% Bank officers,employees of insurance & 8,6% 2,5% 8,3% management companies Independent financial consultants or brokers 1,6% 2,5% 1,6% Those who follow at least one of the tendencies, N=856 Sample Total Main sample Booster Col % Col % Col % Yes 17,0% 9,7% 16,2% Are you aware of the Consumer Protection Commission activity concerning financial No 67,8% 66,7% 67,7% services? Don't know 15,2% 23,7% 16,1% Total 100,0% 100,0% 100,0% 74 During the last 12 months, how many visits /personal contacts or through phone did you have with...? Sample Total Main sample Booster Col % Col % Col % Never 56,5% 92,5% 60,6% Once a month or less 35,7% 7,0% 32,4% bank officers or bankers Few times a month 6,6% ,5% 5,9% Few times a week 1,0% ,9% Daily ,3% ,2% Never 82,5% 98,9% 84,4% representatives of insurance companies / private Once a month or less 15,9% 1,1% 14,2% pension fund Few times a month 1,5% 1,3% Few times a week ,2% ,2% Never 97,3% 99,5% 97,6% representatives of securities companies (for share Once a month or less 2,0% 1,7% deals) Few times a month ,6% ,6% Few times a week ,1% ,5% ,1% Never 96,4% 98,9% 96,7% Once a month or less 2,7% 1,1% 2,5% independent financial advisers or brokers Few times a month ,7% ,6% Few times a week ,1% ,1% Never 88,3% 97,8% 89,4% Once a month or less 9,6% 1,6% 8,7% representatives of a non-banking financial institution , Few times a month 1,8% 1,6% such as Jetcredit or T.B.I. Credit Few times a week ,2% ,5% ,2% Daily ,1% ,1% Never 95,9% 93,0% 95,6% Once a month or less 3,1% 4,8% 3,3% pawn houses personnel Few times a month ,9% 1,6% 1,0% Few times a week ,1% ,5% ,2% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Never 34,8% 73,7% 39,2% Once a month or less 43,3% 19,4% 40,5% When you meet your relatives, colleagues, friends, how often do you talk about financial Few times a month 13,2% 5,9% 12,4% institutions and services? Few times a week 5,4% 1,1% 4,9% Daily 3,4% 3,0% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Never 15,8% 17,7% 16,0% Rarely 18,8% 1,1% 16,7% In the last five years, how often do you compare the Sometimes 12,5% 11,1% terms and conditions for provision of financial services by various companies before you buy such a service? Always 6,3% 1,6% 5,7% I do not use any financial service 23,6% 48,9% 26,5% Don't know 23,0% 30,6% 23,9% Total 100,0% 100,0% 100,0% 75 Sample Total Main sample Booster Col % Col % Col % Don't know 36,4% 77,4% 41,1% Advice of friends and relatives 31,9% 10,2% 29,4% Information materials of financial companies on their tariff 24,7% 3,2% 22,2% Advertisements 17,0% 11,8% 16,4% Internet resources 15,4% 10,8% 14,9% Education programs on the radio and television 6,6% 2,2% 6,1% In the last five years, what sources of Analytical materials published in mass media 3,7% 3,3% information do you pay attention to when choosing a company to buy a service from? Recommendations of independent financial consultants/brokers 3,0% 1,1% 2,8% Employer's advice 2,6% ,5% 2,3% Consultants working for providers of a required service 1,9% ,5% 1,7% Specialized information center/ call center 1,2% 1,1% I don't use no sources ,9% ,5% ,9% Personal meetings at the financial institution ,3% ,2% Other ,2% ,2% Sample Total Main sample Booster Col % Col % Col % Information materials of financial companies on their tariff 31,0% 13,4% 29,0% Advice of friends and relatives 28,5% 21,0% 27,6% Internet resources 20,9% 36,0% 22,6% Don't know 20,1% 33,3% 21,6% Advertisements 18,2% 17,7% 18,2% Education programs on the radio and television 16,9% 8,1% 15,9% Analytical materials published in mass media 5,9% 2,7% 5,5% How would you prefer to receive Recommendations of independent financial 5,8% 2,2% 5,4% information on financial matters? consultants/brokers Specialized information center/ call center 5,0% 4,8% 5,0% Consultants working for providers of a required service 5,0% 2,7% 4,7% Employer's advice 2,0% 1,1% 1,9% Other ,3% 1,6% ,5% Personal meetings at the financial institution ,1% ,1% I don't use no sources ,1% ,1% Post ads ,1% ,1% Sample Total Main sample Booster Col % Col % Col % No knowledge and skills 19,8% 33,3% 21,4% Unsatisfactory knowledge and skills 26,5% 19,4% 25,6% Do you consider yourself a Satisfactory knowledge and skills 33,8% 26,9% 33,0% financially literate person? Good knowledge and skills 13,3% 8,6% 12,8% Excellent knowledge and skills 1,5% ,5% 1,4% Don't know 5,0% 11,3% 5,7% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % More than 10,800 BGN 54,4% 41,9% 53,0% Let's assume that you deposited 10,000 lev in a bank account at 8% annual interest rate. How much money will Exactly 10,800 BGN 9,2% 13,4% 9,7% you have in your account in 2 years if you do not withdraw Less than 10,800 BGN 3,4% 2,2% 3,2% from or add to this account any money? Don't know 33,0% 42,5% 34,1% Total 76 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Let's assume that you deposited 10,000 lev in a bank account at 10% More than 15,000 BGN 40,5% 29,6% 39,2% annual interest rate. The interest will be earned at the end of each Exactly 15,000 BGN 17,7% 20,4% 18,0% year and will be added to the principal. How much money will you have in your account in 5 years if you do not withdraw either the Less than 15,000 BGN 5,0% 4,8% 4,9% principal or the interest? Don't know 36,9% 45,2% 37,8% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % More than a year ago 3,7% 3,8% 3,7% Imagine, than you deposited the money in a bank account at 8% interest rate, while the annual inflation rate was 10%. Do you think the money The same 9,7% 15,1% 10,3% from your account can buy more or less, or the same amount of goods Less than a year ago 47,8% 30,6% 45,8% and services on average now as a year ago? Don't know 38,8% 50,5% 40,2% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % More than today 2,9% 5,4% 3,2% Let's assume that in 2012 your income is twice as now, and the consumer prices also grow twofold. Do you think that in 2012 you Exactly the same 43,5% 37,1% 42,8% will be able to buy more, less, or the same amount of goods and Less than today 22,8% 17,2% 22,2% services as today? Don't know 30,7% 40,3% 31,8% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % A discount of 150 lev 66,6% 61,3% 65,9% Let's assume that you saw a TV-set of the same model on sales in two different shops. The initial retail price of it was 1,000 lev. One shop offered a discount of There are the same 3,9% 4,3% 4,0% 150 lev, while the other one offered a 10% discount. Which one is a better A 10% discount 1,5% 1,1% 1,4% bargain - a discount of 150 lev or 10%? Don't know 28,1% 33,3% 28,7% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % 3% 2,0% 2,2% 2,0% Let's assume that you took a bank credit of 10,000 BGN to be paid back 6% 39,0% 31,7% 38,2% during a year in equal monthly payments. The interest amount paid back 9% 4,0% 4,3% 4,0% on top of the credit is 600 BGN. Give a rough estimate of the annual percentage rate on your credit? 12% 2,2% 2,2% 2,2% Don't know 52,8% 59,7% 53,6% Total 100,0% 100,0% 100,0% 77 Sample Total Main sample Booster Col % Col % Col % The government does not insure the bank deposits 4,6% 2,2% 4,3% The equivalent in lev of 30.000 euro 7,0% 4,3% 6,7% If a citizen has a deposit in a Bulgarian bank and this bank becomes bankrupt, do you know what The equivalent in lev of 50.000 euro 21,0% 8,6% 19,6% maximum level of a deposit is entirely insured by the The equivalent in lev of 100.000 euro 2,5% ,5% 2,3% government? The government insures all bank deposits in their full amount 4,5% 2,2% 4,2% Don't know 60,4% 82,3% 62,9% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % The government does not insure against such losses 10,9% 7,5% 10,5% The equivalent in lev of 30.000 euro 3,3% 1,6% 3,1% If a citizen owns shares in the unit fund, and the value of shares plummeted because of a large scale financial crisis, The equivalent in lev of 50.000 euro 7,4% 4,3% 7,0% what is an approximate level of losses insured by the The equivalent in lev of 100.000 euro 1,7% ,5% 1,6% government? All unit fund shares in their full amount 2,3% 1,6% 2,2% Don't know 74,4% 84,4% 75,5% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % The bank which went bankrupt 70,0% 46,8% 67,3% Don't know 24,7% 49,5% 27,5% In which of the following cases it is Shares of a unit fund whose market value plunged 10,5% 4,3% 9,8% appropriate for the government to compensate individuals for the losses on Apartment prices dropped when one needs to sell them 3,6% 2,7% 3,5% the financial market? None of the above 3,6% 2,7% 3,5% Shares of a private company, and the value of shares dropped 2,2% 4,3% 2,5% significantly Sample Total Main sample Booster Col % Col % Col % Higher education institutions of economic and financial profile 28,5% 35,5% 29,3% Mass media (journalists and TV presenters) 28,8% 26,3% 28,5% Government entities regulating these markets 28,6% 16,1% 27,1% Don't know 23,6% 35,5% 25,0% A commercial bank 18,7% 14,0% 18,2% Non-government organizations or public organizations involved in 19,3% 8,1% 18,0% Which of the following organizations do you see consumer rights protection as the most suitable to deliver financial literacy Independent financial consultants 14,7% 12,4% 14,4% program in Bulgaria? Pension fund and/or insurance companies 6,0% 2,2% 5,6% Unit investment funds (management companies) 4,8% 4,8% 4,8% Internet ,1% ,5% ,2% At school ,2% ,2% Other ,1% ,1% Information Desks ,1% ,1% 78 Which of the following aspects of managing personal finances do you believe that should necessarily be part of a financial training course for people...? Sample Total Main sample Booster Col % Col % Col % Yes 60,7% 51,1% 59,6% How to form one's own financial targets and draw a personal current financial plan No 13,0% 9,7% 12,6% Don't know 26,3% 39,2% 27,8% Yes 75,8% 67,7% 74,9% What to do not to get up to one's neck in debt when using credits No 5,7% 3,8% 5,5% Don't know 18,4% 28,5% 19,6% Yes 65,3% 55,4% 64,2% How to plan purchases of durables (car, apartment) and evaluate one's abilities to implement No 12,9% 11,8% 12,8% them Don't know 21,8% 32,8% 23,1% Yes 71,2% 47,8% 68,5% How does the pension scheme work and what methods are available to secure one's old age No 6,9% 6,5% 6,9% income Don't know 21,9% 45,7% 24,7% Yes 71,4% 62,4% 70,4% What is banking services - current accounts, saving deposits, and plastic cards, and how can No 8,0% 7,0% 7,9% I use it Don't know 20,5% 30,6% 21,7% Yes 68,1% 61,8% 67,4% What is consumer credit for purchasing goods and services, and how can I use it No 9,8% 5,4% 9,3% Don't know 22,1% 32,8% 23,3% Yes 61,0% 55,4% 60,4% What is mortgage loan and how can I use it No 13,5% 6,5% 12,7% Don't know 25,4% 38,2% 26,9% Yes 61,4% 54,3% 60,6% What is insurance and insurance products and how can I use it No 12,4% 7,0% 11,8% Don't know 26,2% 38,7% 27,6% Yes 61,0% 41,4% 58,7% What is private pension fund and how can I use it No 13,8% 10,8% 13,4% Don't know 25,3% 47,8% 27,9% Yes 49,1% 45,2% 48,6% What is capital markets, stock and unit fund shares, and how can I use it No 19,0% 8,6% 17,8% Don't know 31,9% 46,2% 33,6% Yes 63,3% 52,2% 62,1% Sources of information on financial services, how to interpret the information and how to No 10,3% 8,6% 10,1% differentiate the advertising information from the objective one Don't know 26,3% 39,2% 27,8% Yes 63,6% 51,6% 62,2% What parameters are used to compare the services offered by banks and other financial No 9,2% 7,0% 9,0% companies Don't know 27,2% 41,4% 28,8% Yes 75,6% 63,4% 74,2% What consumer rights protection laws are available and what one needs to do when one's No 3,7% 1,6% 3,5% consumer rights are violated Don't know 20,7% 34,9% 22,3% Yes 75,5% 61,8% 73,9% What information should a user pay attention to when signing a contract with a bank or No 4,1% 3,2% 4,0% another financial company Don't know 20,4% 34,9% 22,1% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Yes 73,0% 40,3% 69,3% In your household do you usually have a financial plan, thus you know how to cover No 20,5% 20,4% 20,5% current monthly expenses? Don't know 6,4% 39,2% 10,2% Total 100,0% 100,0% 100,0% 79 Sample Total Main sample Booster Col % Col % Col % Yes, we keep records of everything, entering all revenues and all expenditures 27,9% 15,1% 26,4% Yes, we keep records of everything, but not all revenues and expenditures are 22,4% 18,3% 21,9% entered Is your household used to keeping No, we don't keep records of everything, but we know in general how much 38,8% 23,7% 37,1% records of income and expenditures? money is received and spent during a month No, we don't keep records of family's resources, and we don't have even a 3,4% 7,5% 3,8% vague idea of how much money is received and spent during a month Don't know 7,5% 35,5% 10,8% Total 100,0% 100,0% 100,0% How often during the last 12 months your household…… Sample Total Main sample Booster Col % Col % Col % Never 36,4% 18,8% 34,4% Very rarely 25,6% 11,8% 24,0% How often during the last 12 months your household Sometimes 22,1% 15,1% 21,3% remained with unspent money from month to month? Very often 5,4% 5,9% 5,5% Always 2,4% 3,2% 2,5% Don't know 8,1% 45,2% 12,4% Never 16,1% 14,0% 15,9% Very rarely 17,8% 10,2% 16,9% How often during the last 12 months your household Sometimes 30,7% 14,5% 28,8% remained without money from month to month? Very often 18,0% 10,8% 17,2% Always 7,5% 3,2% 7,0% Don't know 9,8% 47,3% 14,2% Never 13,1% 7,5% 12,4% Very rarely 16,0% 11,8% 15,5% How often during the last 12 months your household Sometimes 28,6% 16,7% 27,2% spent in a month exactly the money earned in the previous month? Very often 19,8% 7,5% 18,4% Always 7,8% 3,2% 7,2% Don't know 14,9% 53,2% 19,3% Total 100,0% 100,0% 100,0% When your household remains with unspent money from month to month, generally what do you do with them? Sample Total Main sample Booster Col % Col % Col % Yes 31,3% 47,1% 33,3% We spend it on consumer goods No 68,8% 52,9% 66,7% Yes 33,0% 47,1% 34,9% We keep it in cash No 67,0% 52,9% 65,1% Yes 50,0% 41,2% 48,8% We deposit it or do not withdraw it from the account No 50,0% 58,8% 51,2% Yes 4,5% 3,9% We invest it in the capital market No 95,5% 100,0% 96,1% Yes 16,1% 23,5% 17,1% We lend it to friends or relatives No 83,9% 76,5% 82,9% Yes 17,9% 35,3% 20,2% We invest it in our own business No 82,1% 64,7% 79,8% Yes 2,7% 11,8% 3,9% We invest it in gold and jewellery No 97,3% 88,2% 96,1% Yes 1,8% 1,6% Other No 98,2% 100,0% 98,4% Total 100,0% 100,0% 100,0% 80 Money remains unspent always or very often, N=129 When your household runs out of money from month to month, generally, what do you do? Sample Total Main sample Booster Col % Col % Col % Yes 77,6% 73,1% 77,3% We cut down expenses No 22,4% 26,9% 22,7% We borrow money from relatives, friends and Yes 74,6% 61,5% 73,7% acquaintances without interest No 25,4% 38,5% 26,3% We borrow money from relatives, friends and Yes 3,3% 3,8% 3,3% acquaintances with interest No 96,7% 96,2% 96,7% Yes 31,7% 15,4% 30,6% We buy on credit (informally - "pe caiet") from shops No 68,3% 84,6% 69,4% We borrow from non-banking financial institutions (Jet Yes 6,3% 3,8% 6,1% Credit, T.B.I., etc.) No 93,7% 96,2% 93,9% Yes 4,1% 19,2% 5,1% We pawn jewellery or other goods No 95,9% 80,8% 94,9% Yes 12,3% 26,9% 13,3% We spend our savings in lev No 87,7% 73,1% 86,7% Yes 1,9% 3,8% 2,0% We exchange in lev our savings in foreign currency No 98,1% 96,2% 98,0% Yes 4,1% 3,8% We borrow from a bank No 95,9% 100,0% 96,2% Yes 10,1% 9,4% We use a credit card No 89,9% 100,0% 90,6% Yes 24,9% 23,1% 24,7% We work extra hours or do additional jobs No 75,1% 76,9% 75,3% Yes ,8% ,8% Other No 99,2% 100,0% 99,2% Left without money always or very often, N=392 Sample Total Main sample Booster Col % Col % Col % Yes, because someone in the household has lost 28,8% 18,8% 27,6% his job due to financial crisis Yes, because of unfortunate series of events 7,5% 4,8% 7,2% Yes, because of a wrong money management or 10,1% 7,0% 9,8% lack of ability to plan its finances Please tell us whether there are such households among Yes, other ,4% ,5% ,4% your acquaintances or friends who used to be relatively well-to-do and then suddenly encountered financial I do not know such households 37,8% 42,5% 38,4% problems? If so, then what was the reason in your opinion? Don't know 15,0% 26,3% 16,3% Go abroad ,1% ,1% Integrated responses from the front ,1% ,1% Their business goes bankrupt ,1% ,1% Lowering of wages due to crisis ,1% ,1% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Yes 36,1% 23,7% 34,7% Did your household experience an unexpected significant reduction of your No 57,8% 53,8% 57,4% income over the last three years? Don't know 6,1% 22,6% 8,0% Total 100,0% 100,0% 100,0% 81 What was the reason for this reduction of your income? Sample Total Main sample Booster Col % Col % Col % Yes 49,1% 63,6% 50,3% Loss of employment due to economic crisis No 50,9% 36,4% 49,7% Loss of employment because of an accident, Yes 7,2% 6,6% illness or disability No 92,8% 100,0% 93,4% Considerable reduction of salary, or delays with Yes 43,7% 43,2% 43,7% salary payment No 56,3% 56,8% 56,3% Yes 3,5% 4,5% 3,6% Breakup, separation or divorce No 96,5% 95,5% 96,4% Yes 6,6% 6,1% Retirement of the main breadwinner No 93,4% 100,0% 93,9% Yes 10,8% 10,0% Other No 89,2% 100,0% 90,0% Total 100,0% 100,0% 100,0% Those who experienced an significant reduction of their income over the last three years, N=561 How did you (your family) manage to make the ends meet when your income suddenly dropped? Sample Total Main sample Booster Col % Col % Col % Yes 84,5% 84,1% 84,5% We cut down expenses No 15,5% 15,9% 15,5% We borrow money from relatives, friends and Yes 59,4% 36,4% 57,6% acquaintances without interest No 40,6% 63,6% 42,4% We borrow money from relatives, friends and Yes 3,3% 3,0% acquaintances with interest No 96,7% 100,0% 97,0% Yes 21,1% 11,4% 20,3% We buy on credit (informally - "pe caiet") from shops No 78,9% 88,6% 79,7% We borrow from non-banking financial institutions (Jet Yes 3,9% 2,3% 3,7% Credit, T.B.I., etc.) No 96,1% 97,7% 96,3% Yes 3,9% 9,1% 4,3% We pawn jewellery or other goods No 96,1% 90,9% 95,7% Yes 13,5% 22,7% 14,3% We spend our savings in lev No 86,5% 77,3% 85,7% Yes 2,7% 9,1% 3,2% We exchange in lev our savings in foreign currency No 97,3% 90,9% 96,8% Yes 7,9% 7,3% We borrow from a bank No 92,1% 100,0% 92,7% Yes 7,7% 2,3% 7,3% We use a credit card No 92,3% 97,7% 92,7% Yes 14,1% 18,2% 14,4% We work extra hours or do additional jobs No 85,9% 81,8% 85,6% Yes 2,1% 2,0% Other No 97,9% 100,0% 98,0% Total 100,0% 100,0% 100,0% Those who experienced an significant reduction of their income over the last three years, N=561 82 Sample Total Main sample Booster Col % Col % Col % Never 43,0% 25,8% 41,0% Very rarely 19,8% 10,2% 18,7% How often during the last 12 months your Sometimes 16,5% 14,0% 16,2% household had to borrow to pay back your other debts? Very often 9,0% 5,4% 8,6% Always 2,2% 1,1% 2,1% Don't know 9,4% 43,5% 13,3% Total 100,0% 100,0% 100,0% If tomorrow, your household incomes would suddenly be reduced with let’’s say one quarter for a period of 3 months or more, how would you manage? Sample Total Main sample Booster Col % Col % Col % Nothing special because our household has sufficient 6,8% 8,6% 7,0% savings and incomes We will cut down expenses and save Yes 79,3% 69,9% 78,2% No 13,9% 21,5% 14,8% Nothing special because our household has sufficient 6,8% 8,6% 7,0% savings and incomes We will borrow money from relatives, friends and acquaintances Yes 55,1% 51,1% 54,6% No 38,1% 40,3% 38,3% Nothing special because our household has sufficient 6,8% 8,6% 7,0% savings and incomes We will buy on credit ("pe caiet) from shops Yes 17,5% 11,3% 16,8% No 75,6% 80,1% 76,1% Nothing special because our household has sufficient 6,8% 8,6% 7,0% savings and incomes We will take a bank loan Yes 6,1% 12,9% 6,9% No 87,1% 78,5% 86,1% Nothing special because our household has sufficient 6,8% 8,6% 7,0% savings and incomes We will borrow from non-bank credit institution (Jet Credit, T.B.I, etc.) Yes 4,1% 4,8% 4,1% No 89,1% 86,6% 88,8% Nothing special because our household has sufficient 6,8% 8,6% 7,0% savings and incomes We will use a credit card Yes 9,3% 14,5% 9,9% No 83,9% 76,9% 83,1% Nothing special because our household has sufficient 6,8% 8,6% 7,0% savings and incomes We will pawn jewellery or other goods Yes 3,9% 7,5% 4,3% No 89,2% 83,9% 88,6% Nothing special because our household has sufficient 6,8% 8,6% 7,0% savings and incomes We will spend our savings in lev Yes 15,6% 18,8% 16,0% No 77,5% 72,6% 76,9% Nothing special because our household has sufficient 6,8% 8,6% 7,0% savings and incomes We will work extra hours/additional jobs Yes 30,4% 30,1% 30,4% No 62,7% 61,3% 62,5% Nothing special because our household has sufficient 6,8% 8,6% 7,0% savings and incomes We will apply for social benefits Yes 16,0% 12,4% 15,6% No 77,2% 79,0% 77,4% Nothing special because our household has sufficient 6,8% 8,6% 7,0% savings and incomes Other Yes ,7% 1,1% ,7% No 92,5% 90,3% 92,2% Total 100,0% 100,0% 100,0% 83 Sample Total Main sample Booster Col % Col % Col % Less than a week 3,1% 2,2% 3,0% One week-less than 1 month 10,5% 7,5% 10,2% 1-3 months 26,2% 14,5% 24,8% How long do you think you can 3-6 months 12,4% 4,8% 11,6% manage in this situation? 6-12 months 5,6% 2,7% 5,3% One year or more 5,1% 2,2% 4,8% Don't know 37,1% 66,1% 40,4% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Less than the monthly income 28,3% 12,9% 26,5% Approximately 1-2 monthly incomes 6,1% 1,1% 5,5% Approximately 2-3 monthly incomes 2,4% 1,1% 2,3% Comparing to your total monthly household Approximately 4-6 monthly incomes ,5% 1,1% ,6% income, approximately how much are your debts? Approximately 7-12 monthly incomes ,3% ,2% More than the annual income ,3% ,2% I don't have any debts 42,5% 42,5% 42,5% Don't know 19,6% 41,4% 22,1% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % I'll make reserves (for unexpected event, special events) 35,4% 21,5% 33,8% I'll spend it on education and development of my children 29,1% 21,5% 28,2% I'll spend it on the purchase of household goods 22,6% 23,1% 22,7% I'll try to add money and buy a plot of land, a car, etc. 19,1% 26,9% 20,0% I'll invest it in my own business 19,7% 22,0% 20,0% I'll repay my earlier debts 17,8% 7,0% 16,6% I'll make long-term savings to accumulate money 16,1% 18,3% 16,4% I'll spend it on entertainment, on travel or vacation 13,7% 34,9% 16,1% I'll spend it on my medical treatment and that of my family 15,4% 3,2% 14,0% I'll invest it in the bank deposit at an interest rate 14,8% 7,0% 13,9% Let’’s assume that in addition to your regular income your family got some money in the amount of 50,000 lev, meaning I'll spend it on upgrade of my skills or a new vacation 6,7% 21,0% 8,3% approximately 25,000 euro. What would you do with this money Don't know 3,6% 10,8% 4,4% most likely? I'll buy gold, jewels and the like 2,4% 3,2% 2,5% I will help the children 2,1% ,5% 1,9% I'll buy an insurance policy, spend it on voluntary pension 1,9% 1,1% 1,8% To repair property (house, apartment) 1,3% 1,2% I'll buy shares and other stock of Bulgarian companies ,9% 2,2% 1,1% Other ,6% ,6% Purchase of housing property ,4% ,5% ,4% Charity ,1% ,1% Purchase of vehicles ,1% ,1% I will visit my children abroad ,1% ,1% Sample Total Main sample Booster Col % Col % Col % I try to save something and spend the rest of the 8,2% 5,9% 7,9% money Does your household usually I spend money on the everyday needs and save the manage your everyday 24,4% 19,9% 23,9% rest revenues? I spend all the money and do not save anything 61,5% 30,1% 57,8% Don't know 84 6,0% 44,1% 10,4% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Less than the monthly income 51,9% 20,8% 49,0% Approximately 1-2 monthly incomes 7,1% 6,4% Approximately 2-3 monthly incomes 6,2% 2,1% 5,8% Comparing to your total monthly household income, Approximately 4-6 monthly incomes 4,9% 4,2% 4,9% approximately how much are your savings? Approximately 7-12 monthly incomes 1,5% 1,4% More than the annual income 1,7% 1,6% Don't know 26,6% 72,9% 30,9% Total 100,0% 100,0% 100,0% Those who save, N=514 Sample Total Main sample Booster Col % Col % Col % For a rainy day, for unexpected expenses 68,7% 60,4% 67,9% To increase my living standards in the future 15,9% 33,3% 17,5% To leave something for children to inherit 15,7% 8,3% 15,0% I like saving rather than spending money 14,4% 12,5% 14,2% This is a family tradition 9,0% 14,6% 9,5% Don't know 6,0% 16,7% 7,0% For retirement 5,6% 2,1% 5,3% What are the reasons to have To get income in the form of interest, increase market value 5,2% 2,1% 4,9% made savings? Other 1,5% 2,1% 1,6% Purchasing an expensive item ,4% ,4% For Burial ,2% ,2% To achieve any goal ,2% ,2% For going to a resort ,2% ,2% Working capital ,2% ,2% To help my children ,2% ,2% Those who save, N=514 Sample Total Main sample Booster Col % Col % Col % I cannot do this because of a low income 84,2% 64,3% 83,0% Don't know 8,3% 28,6% 9,5% I don't see the point in making savings 5,7% 10,7% 6,0% I don't trust financial institutions 3,6% 1,8% 3,5% What are the reasons not to have made savings? I can't resist the temptation to spend the money on 1,7% 1,8% 1,7% shopping I don't have work ,3% ,3% Other ,1% ,1% Books and education ,1% ,1% Those who don't save, N=936 85 Sample Total Main sample Booster Col % Col % Col % I have not invested any money 90,2% 98,9% 91,2% Real estate 6,0% ,5% 5,4% Have you personally invested in the Life insurance 2,3% ,5% 2,1% last five years in? Pension fund 1,3% 1,2% Other ,9% ,8% Securities ,5% ,4% Most profitable Sample Main sample Booster Total Securities 2,44 2,37 2,43 Real estate 1,50 1,74 1,53 Pension fund 2,98 3,07 2,99 Life insurance 3,08 2,94 3,06 Other 4,72 4,35 4,66 Highest risk Sample Main sample Booster Total Securities 1,80 2,01 1,82 Real estate 3,32 3,10 3,30 Pension fund 2,40 2,44 2,41 Life insurance 2,52 2,54 2,52 Other 3,86 3,56 3,81 Sample Main sample Booster Total I find it difficult to answer this question Col % 33,0% 54,3% 35,4% None of the above Col % 28,5% 18,3% 27,3% Consumer credit Col % 13,9% 7,0% 13,1% Credit card Col % 7,5% 9,1% 7,7% Insurance policies Col % 6,4% 9,1% 6,7% Private pension fund policies Col % 7,3% 2,2% 6,7% What services of the above would you Investments in unit funds Col % 6,3% 7,5% 6,4% like to know better or get additional information about? Band deposit account Col % 6,8% 3,2% 6,4% Bank current account Col % 4,8% 6,5% 5,0% Mortgage loan Col % 4,1% 3,2% 4,0% Investments in companies' stock Col % 3,4% 6,5% 3,7% Bank card Col % 2,7% 5,4% 3,0% Other financial service Col % 2,9% 1,6% 2,7% Currency exchange Col % 1,6% 4,8% 2,0% Sample Main sample Booster Total Male 47,6% 48,9% 47,8% Sex Female 52,4% 51,1% 52,2% Total 100,0% 100,0% 100,0% 86 Sample Main sample Booster Total Bulgarian 84,0% 86,6% 84,3% Turkish 10,2% 7,0% 9,8% Ethnicity Roma 4,3% 5,9% 4,5% Other 1,5% ,5% 1,4% Total 100,0% 100,0% 100,0% Sample Main sample Booster Total No school ,3% 1,1% ,4% Primary (1- 4 classes) 2,0% 1,6% 2,0% Gymnasium (5-8 classes) 24,1% ,5% 21,4% First level of high school (9-10 classes) 6,1% 96,8% 16,5% Highest level of education General high school (9-12 classes) 21,9% 19,4% achieved Professional high school (9-12 classes) 26,0% 23,0% College degree 2,7% 2,3% University (including Master degree) 16,6% 14,7% Doctoral studies ,3% ,3% Total 100,0% 100,0% 100,0% Sample Main sample Booster Total Employee 40,2% 35,5% Other status of employed persons 5,0% 1,6% 4,6% Business owner 5,7% 5,0% Self-employed person in non-agricultural activities 2,0% 1,8% Self-employed person in agricultural activities 1,5% 1,3% Family helper ,3% ,3% Main occupational status in the Registered as unemployed 4,8% 4,3% present Unregistered unemployed 5,2% ,5% 4,6% Retired - due to age 22,5% 19,9% Retired - other causes 4,5% 4,0% Pupil, student 5,9% 97,8% 16,5% Housewife 1,5% 1,4% Person unable to work ,1% ,1% Another status of non working person ,5% ,4% Total 100,0% 100,0% 100,0% Sample Main sample Booster Total Manager,business owner,entrepreneur,mayor,local counselllor 14,3% 14,3% Intellectual occupations: teacher, physician, economist 11,6% 11,6% Technicians or foremen 8,0% 8,0% Clerks: secretary, librarian, cashier etc. 14,5% 14,4% Workers in services and commerce 16,8% 16,7% Qualified farmers or self-employed in agriculture 3,2% 3,2% Main occupation Craftsmen and maintenance mechanics 10,6% 10,5% Skilled workers and operators 9,0% 9,0% Unskilled workers in non-agricultural sectors 7,1% 7,1% Daily workers/black market workers in agriculture 1,4% 1,4% Daily workers/black market workers in non-agricultural act. 2,8% 100,0% 3,2% Military officer ,6% ,6% Total 100,0% 100,0% 100,0% 87 Sample Main sample Booster Total No income 8,1% 82,7% 16,3% Salary/ wages 45,8% 4,0% 41,2% Income from self-employed authorized non-agricultural act. 6,8% 6,0% Daily paid or occasional incomes, inclusively black market 4,0% 1,7% 3,8% Old age pension 22,5% 20,0% Disability, illness, veteran pension 3,6% 1,7% 3,4% Unemployment/ redundancy benefit 3,8% 3,4% Scholarship ,6% 4,0% 1,0% Main source of income Child allowance 1,1% 3,5% 1,3% The minimum guaranteed income, social allowance ,3% ,3% Other social transfers ,1% ,1% Money received from relatives who work abroad ,5% ,4% Private transfers ,6% ,1% Income from investments, savings or proprieties ,4% ,4% Income from self-employment agricultural activities 1,6% 1,4% Other ,8% 1,7% ,9% Total 100,0% 100,0% 100,0% Statistics N Valid Missing Mean Last month (April 2010), the total amount received from salaries, pensions, child allowances, 992 626 718,28 sales etc. by all household's members (including the respondent) was approximately... And the total amount received by the respondent was approximately…… 913 705 388,94 Sample Main sample Booster Total Bank debit card Col % 36,5% 9,1% 33,3% Insurance policies Col % 20,1% 3,2% 18,2% Consumer loan Col % 15,9% 1,6% 14,2% Bank deposit Col % 8,8% 1,6% 8,0% Current account Col % 8,7% ,5% 7,7% Bank credit card Col % 8,0% 1,1% 7,2% Private pensions Col % 3,5% 3,1% Loans from relatives, friends, acquaintances Col % 3,2% 2,8% What type of financial Loans from Jet Credit, T.B.I or other non-banking financial Col % 3,1% 2,7% services do you use? Buying on credit (informally - "pe caiet") from food shops Col % 3,0% ,5% 2,7% Mortgage loan Col % 2,0% 1,8% Loans from Mutual Help Associations Col % 1,0% ,9% Car loans Col % ,6% ,5% ,6% Buying on credit from the electrical appliances shops Col % ,6% ,5% ,6% Pawning goods Col % ,4% ,5% ,4% Investments in shares Col % ,3% ,3% Investment funds Col % ,1% ,1% 88 What type of insurances policies do you have? Sample Main sample Booster Total NA Col % 76,1% 78,5% 76,4% Life insurance Yes Col % 9,7% 9,7% 9,7% No Col % 14,2% 11,8% 13,9% NA Col % 77,6% 79,0% 77,8% Medical insurance Yes Col % 3,8% 9,1% 4,4% No Col % 18,6% 11,8% 17,9% NA Col % 76,8% 79,0% 77,1% House insurance Yes Col % 6,5% 6,5% 6,5% No Col % 16,7% 14,5% 16,4% NA Col % 76,6% 78,0% 76,8% Car insurance - CASCO Yes Col % 12,9% 8,6% 12,4% No Col % 10,5% 13,4% 10,8% NA Col % 78,2% 79,0% 78,3% Terrains and/ or crop insurance Yes Col % ,7% ,5% ,7% No Col % 21,1% 20,4% 21,0% NA Col % 87,7% 89,8% 87,9% Other Yes Col % 2,1% 4,8% 2,4% No Col % 10,2% 5,4% 9,6% Sample Main sample Booster Total Bought them on my own Col % 58,5% 29,4% 55,6% Did you buy the insurance policy/ies on your own Imposed with other Col % 24,3% 14,7% 23,3% or they were imposed with other financial services fi i l i (credit, leasing, etc.) Both situations Col % 4,8% 4,3% Don't know Col % 12,5% 55,9% 16,7% Total Col % 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % My life /house are insured for the required amount 6,8% 2,7% 6,3% My life /house are insured for some amount but in may opinion it is lower 1,3% 1,1% than required How do you assess your insurance My life /house need to be insured, but it is too expensive 9,5% 1,6% 8,6% policies - Life insurance My life /house need to be insured, but I don't believe that the insurance 8,8% 7,0% 8,6% companies will keep their contract terms and pay the insured amounts We don't need insurance 37,4% 18,8% 35,3% Don't know 36,2% 69,9% 40,1% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % My life /house are insured for the required amount 4,5% 4,0% My life /house are insured for some amount but in may opinion it is lower than ,8% ,7% required How do you assess your insurance policies My life /house need to be insured, but it is too expensive 9,6% 8,5% - House insurance My life /house need to be insured, but I don't believe that the insurance 10,7% 7,0% 10,3% companies will keep their contract terms and pay the insured amounts We don't need insurance 34,4% 16,7% 32,3% Don't know 40,0% 76,3% 44,2% Total 100,0% 100,0% 100,0% 89 Sample Total Main sample Booster Col % Col % Col % I chose it on my own, the bank, insurance company, etc. 35,6% 3,2% 31,9% It was imposed from work (salary card, pension card etc.) 12,3% 3,2% 11,2% I had access only to this financial institution ,3% ,2% The financial institutions you work with were imposed Other ,2% ,2% or did you choose them on your own? My parents choose them ,5% ,1% Insurance at school ,5% ,1% I don't use any financial service 40,9% 81,7% 45,6% Don't know 13,8% 11,8% 13,5% Sample Total Main sample Booster Col % Col % Col % Yes 7,4% ,5% 6,6% In the last 5 years, did you happen to buy a No 49,3% 11,8% 45,0% financial service which you were sorry about later as the service did not meet your needs? Does not use any Financial Service 39,9% 81,7% 44,7% Don't know 3,4% 5,9% 3,6% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % A consumer loan 41,5% 41,1% A bank credit card 20,8% 20,6% Loans from Jet Credit, T.B.I or other non-banking financial 11,3% 11,2% A bank debit card 9,4% 9,3% Current account 4,7% 4,7% A mortgage loan 3,8% 3,7% Bank deposit 3,8% 3,7% What kind of service was An insurance policy 2,8% 100,0% 3,7% it? Pawning goods 3,8% 3,7% A car loan 2,8% 2,8% Loans from relatives, friends, acquaintances 2,8% 2,8% Buying on credit from the electrical appliances shops 1,9% 1,9% Private pensions ,9% ,9% Investment in shares ,9% ,9% Loans from usurers ,9% ,9% Sample Total Main sample Booster Col % Col % Col % Nothing 47,2% 46,7% I stopped using the service before the contract expired 23,6% 100,0% 24,3% I submitted a grievance to the company which sold me the pro 14,2% 14,0% What did you do after you Don't know, Don't remember 7,5% 7,5% discovered the problem? Other 4,7% 4,7% I submitted a claim to the appropriate government authority 3,8% 3,7% I picked up a scandal ,9% ,9% Deep in debt and wonder how to pay off ,9% ,9% 90 Sample Total Main sample Booster Col % Col % Col % We hardly make the ends meet 35,9% 18,3% 33,9% Enough money for food, difficulties in buying clothes 20,6% 12,9% 19,7% Which of the descriptions comes closest to Enough for food & clothes,purchase of durables is problemati 24,1% 25,3% 24,2% your household's income nowadays? No trouble buying durables, buying expensive thing is hard 9,3% 12,9% 9,7% We can afford quite expensive things 1,8% 1,1% 1,7% Don't know 8,3% 29,6% 10,8% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % A consumer loan 9,1% 7,0% 8,8% A bank credit card 3,1% 3,2% 3,1% A bank debit card 2,4% 7,5% 3,0% An insurance policy 3,2% 1,6% 3,0% Buying on credit (informally - "pe caiet") from food shops 2,9% 1,6% 2,8% Bank deposit 2,9% 1,6% 2,7% Current account 2,5% 2,7% 2,5% Loans from relatives, friends, acquaintances 2,8% ,5% 2,5% From the folowing financial services, Loans from Mutual Help Associations 2,1% 1,9% which ones do you plan to use the the next 2 years? A car/ loan 1,7% 3,2% 1,9% Buying on credit from the electrical appliances shops 2,0% ,5% 1,9% A mortgage loan 2,0% ,5% 1,8% Private pensions 1,9% ,5% 1,7% Loans from Jet Credit, TBI or other non-banking fin.institut ,9% 1,6% 1,0% Investment in shares ,6% 2,2% ,8% Investment funds ,7% ,5% ,7% Pawning goods ,4% 1,1% ,5% Loans from usurers ,1% ,5% ,2% Those who did happen to buy a financial service which they were sorry about, N=107 Sample Total Main sample Booster Col % Col % Col % Nothing 47,2% 46,7% I stopped using the service before the contract expired 23,6% 100,0% 24,3% I submitted a grievance to the company which sold me the pro 14,2% 14,0% What did you do after you Don't know, Don't remember 7,5% 7,5% discovered the problem? Other 4,7% 4,7% I submitted a claim to the appropriate government authority 3,8% 3,7% I picked up a scandal ,9% ,9% Deep in debt and wonder how to pay off ,9% ,9% Those who did happen to buy a financial service which they were sorry about, N=107 91 Sample Total Main sample Booster Col % Col % Col % We hardly make the ends meet 35,9% 18,3% 33,9% We have enough money to buy food but buying clothes causes 20,6% 12,9% 19,7% financial difficulties. We have enough money to buy food and clothes. But purchase of Which of the descriptions comes closest to 24,1% 25,3% 24,2% durable goods (a TV-set, a refrigerator) is problematic. your household's income nowadays? We have enough money to buy food and clothes. But purchase of 9,3% 12,9% 9,7% durable goods (a TV-set, a refrigerator) is problematic. We can afford quite expensive things. 1,8% 1,1% 1,7% Don't know 8,3% 29,6% 10,8% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % A consumer loan 9,1% 7,0% 8,8% A bank credit card 3,1% 3,2% 3,1% A bank debit card 2,4% 7,5% 3,0% An insurance policy 3,2% 1,6% 3,0% Buying on credit (informally - "pe caiet") from food shops 2,9% 1,6% 2,8% Bank deposit 2,9% 1,6% 2,7% Current account 2,5% 2,7% 2,5% Loans from relatives, friends, acquaintances 2,8% ,5% 2,5% From the folowing financial services, which Loans from Mutual Help Associations 2,1% 1,9% ones do you plan to use the the next 2 years? A car/ loan 1,7% 3,2% 1,9% Buying on credit from the electrical appliances shops 2,0% ,5% 1,9% A mortgage loan 2,0% ,5% 1,8% Private pensions 1,9% ,5% 1,7% Loans from Jet Credit, TBI or other non-banking fin.institut ,9% 1,6% 1,0% Investment in shares ,6% 2,2% ,8% Investment funds ,7% ,5% ,7% Pawning goods ,4% 1,1% ,5% Loans from usurers ,1% ,5% ,2% Does your household have...? Sample Total Main sample Booster Col % Col % Col % Yes 52,0% 67,2% 53,7% Car No 48,0% 32,8% 46,3% Yes 46,5% 46,2% 46,5% Landline telephone No 53,5% 53,8% 53,5% Yes 49,4% 82,8% 53,3% Computer (PC) No 50,6% 17,2% 46,7% Yes 46,6% 78,0% 50,2% Access to Internet No 53,4% 22,0% 49,8% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % NA 1,2% 1,1% in a central area of the village/town/city 36,7% 40,9% 37,1% The dwelling is …… in a peripheral area of the village/town/city 51,9% 43,5% 50,9% in other area of the village/town/city 10,3% 15,6% 10,9% 92 Total 100,0% 100,0% 100,0% The dwelling is …… Sample Total Main sample Booster Col % Col % Col % in a good area 47,2% 49,5% 47,5% in a poor area 18,8% 11,3% 17,9% The dwelling is …… in a bad-famed area 3,6% 6,5% 4,0% in a rather good area 24,6% 27,4% 24,9% After 2000 Sample Total Main sample Booster Col % Col % Col % Yes 32,1% 30,1% 31,8% Did you travel abroad? No 67,9% 69,9% 68,2% Yes 8,6% 7,6% Did you work abroad? No 91,4% 100,0% 92,4% Yes 12,1% 15,1% 12,4% Did anyone else from your household work abroad? No 87,9% 84,9% 87,6% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % Yes 23,0% 1,1% 20,5% After graduating did you take any other courses for No 73,3% 25,3% 67,8% specialization / requalification? N/A 3,7% 73,7% 11,7% Total 100,0% 100,0% 100,0% Sample Total Main sample Booster Col % Col % Col % English 17,4% 46,8% 20,8% Russian 17,3% 8,6% 16,3% Bulgarian 10,9% 9,1% 10,7% German 4,4% 10,2% 5,1% Beside your mother language, what other languages do you French 2,8% 3,2% 2,8% speak well enough to take part in a conversation? Turkish 2,0% 2,7% 2,0% Spanish 1,1% 7,0% 1,8% Other 1,9% ,5% 1,7% Italian 1,1% 2,7% 1,3% Romani 1,2% 1,1% 93 As a whole, how satisfied are you with your life nowadays? Very Rather Rather Very dissatisfied dissatisfied satisfied satisfied Don't know Base: Row % Row % Row % Row % Row % Sofia 269 6,7% 27,5% 56,9% 4,5% 4,5% Regional center 484 13,8% 32,2% 49,0% 1,7% 3,3% Type of residence Smaller town 276 19,9% 38,8% 37,3% 1,4% 2,5% Village 403 20,6% 41,4% 34,7% 1,5% 1,7% Male 682 16,1% 34,9% 44,3% 2,5% 2,2% Gender Female 750 15,1% 35,5% 44,1% 1,7% 3,6% 18-30 311 9,3% 27,3% 53,1% 4,8% 5,5% 31-40 243 14,4% 33,7% 47,3% 1,6% 2,9% Age 41-50 253 14,2% 35,6% 46,2% ,8% 3,2% 51-60 257 16,0% 38,5% 41,6% 1,6% 2,3% 60+ 368 22,3% 40,2% 35,1% 1,4% 1,1% Finished bachelor, master or higher 242 4,1% 26,4% 63,2% 2,5% 3,7% degree Highest level of Finished college 38 10,5% 39,5% 44,7% 2,6% 2,6% education achieved Finished secondary school 683 11,9% 36,9% 46,6% 2,0% 2,6% Finished elementary and lower 465 27,3% 36,8% 31,0% 1,9% 3,0% Employee 575 9,0% 33,9% 51,3% 2,3% 3,5% Other status of employed persons 72 20,8% 47,2% 27,8% 4,2% Business owner 81 8,6% 21,0% 65,4% 4,9% Self-employed person in 29 13,8% 17,2% 69,0% non-agricultural activities Self-employed person in agricultural 21 9,5% 42,9% 42,9% 4,8% activities Family helper 5 60,0% 40,0% Main occupational status in the present Registered as unemployed 69 30,4% 43,5% 18,8% 7,2% Unregistered unemployed 74 36,5% 35,1% 25,7% 2,7% Retired - due to age 322 20,8% 40,4% 36,3% 1,2% 1,2% Retired - other causes 65 26,2% 47,7% 26,2% Pupil, student 85 2,4% 20,0% 62,4% 8,2% 7,1% Housewife 22 9,1% 31,8% 50,0% 4,5% 4,5% Person unable to work 2 50,0% 50,0% Another status of non working person 7 14,3% 28,6% 42,9% 14,3% Bulgarian 1202 13,6% 34,8% 46,9% 2,2% 2,5% Turkish 146 21,9% 33,6% 37,0% 2,1% 5,5% Ethnicity Roma 62 40,3% 41,9% 12,9% 1,6% 3,2% Other 21 4,8% 52,4% 33,3% 9,5% No income 3 66,7% 33,3% Less than 100 BGN 6 33,3% 50,0% 16,7% 101-150 BGN 22 22,7% 54,5% 22,7% 151-200 BGN 57 22,8% 52,6% 21,1% 1,8% 1,8% Total household 201-300 BGN 132 28,8% 40,9% 28,8% 1,5% income 301-500 BGN 216 23,6% 38,9% 35,6% 1,4% ,5% More than 500 BGN 499 10,0% 32,3% 52,7% 2,0% 3,0% Don't know 118 16,1% 28,0% 46,6% 5,1% 4,2% NA 379 11,3% 33,5% 47,8% 2,6% 4,7% No income 135 17,0% 32,6% 40,7% 4,4% 5,2% Less than 250 BGN 354 24,6% 39,5% 33,3% 1,1% 1,4% 251-500 BGN 370 13,8% 37,8% 44,6% 1,4% 2,4% Personal monthly 501-750 BGN 96 6,3% 41,7% 47,9% 2,1% 2,1% income 751-1000 52 3,8% 17,3% 73,1% 3,8% 1,9% More than 1000 BGN 29 10,3% 6,9% 75,9% 6,9% Don't know 37 18,9% 29,7% 43,2% 5,4% 2,7% NA 359 12,3% 32,9% 48,2% 1,9% 4,7% I don't use financial services 584 18,7% 38,9% 36,1% 2,4% 3,9% Financial services One 389 18,0% 31,4% 46,0% 2,8% 1,8% usage Two 242 10,7% 37,2% 49,2% 2,9% Three and more 217 8,3% 30,0% 57,1% 2,3% 2,3% Total 1432 15,6% 35,2% 44,2% 2,1% 2,9% 94 How do you think your life is going to be over the next 12 months? Much worse Worse The same Better Much better Don't know Base: Row % Row % Row % Row % Row % Row % Sofia 269 1,9% 13,8% 37,5% 38,7% 3,7% 4,5% Regional center 484 5,2% 21,5% 44,0% 22,7% 3,1% 3,5% Type of residence Smaller town 276 6,9% 25,7% 31,9% 28,6% 2,9% 4,0% Village 403 7,7% 28,0% 34,0% 25,1% 1,0% 4,2% Male 682 5,1% 23,6% 40,9% 25,1% 2,2% 3,1% Gender Female 750 6,0% 21,9% 34,7% 29,7% 2,9% 4,8% 18-30 311 3,5% 13,2% 32,5% 39,9% 7,4% 3,5% 31-40 243 5,3% 19,3% 38,3% 31,7% 2,9% 2,5% Age 41-50 253 4,0% 21,7% 45,8% 24,5% ,8% 3,2% 51-60 257 7,0% 22,6% 39,7% 23,7% ,8% 6,2% 60+ 368 7,6% 33,7% 34,5% 19,0% ,8% 4,3% Finished bachelor, master or higher 242 1,2% 14,0% 45,0% 31,8% 5,0% 2,9% degree Highest level of education Finished college 38 5,3% 21,1% 42,1% 23,7% 2,6% 5,3% achieved Finished secondary school 683 4,2% 20,9% 39,4% 30,3% 2,0% 3,1% Finished elementary and lower 465 9,9% 30,1% 31,0% 21,1% 2,2% 5,8% Employee 575 2,3% 17,9% 42,4% 31,3% 3,1% 3,0% Other status of employed persons 72 11,1% 29,2% 37,5% 15,3% 6,9% Business owner 81 2,5% 14,8% 54,3% 25,9% 2,5% Self-employed person in 29 6,9% 17,2% 24,1% 44,8% 6,9% non-agricultural activities Self-employed person in agricultural 21 9,5% 23,8% 33,3% 28,6% 4,8% activities Family helper 5 20,0% 60,0% 20,0% Main occupational status in the present Registered as unemployed 69 17,4% 27,5% 18,8% 26,1% 1,4% 8,7% Unregistered unemployed 74 13,5% 21,6% 21,6% 39,2% 4,1% Retired - due to age 322 6,8% 34,2% 37,0% 16,5% ,6% 5,0% Retired - other causes 65 9,2% 27,7% 33,8% 24,6% 4,6% Pupil, student 85 5,9% 30,6% 45,9% 12,9% 4,7% Housewife 22 4,5% 18,2% 50,0% 22,7% 4,5% Person unable to work 2 50,0% 50,0% Another status of non working person 7 42,9% 14,3% 14,3% 14,3% 14,3% Bulgarian 1202 4,5% 21,7% 39,6% 27,8% 2,6% 3,8% Turkish 146 8,9% 26,0% 29,5% 28,1% 2,1% 5,5% Ethnicity Roma 62 17,7% 35,5% 22,6% 17,7% 4,8% 1,6% Other 21 9,5% 19,0% 28,6% 33,3% 9,5% No income 3 33,3% 66,7% Less than 100 BGN 6 16,7% 50,0% 33,3% 101-150 BGN 22 13,6% 18,2% 18,2% 40,9% 4,5% 4,5% 151-200 BGN 57 7,0% 36,8% 24,6% 19,3% 1,8% 10,5% Total household income 201-300 BGN 132 11,4% 37,1% 29,5% 15,9% ,8% 5,3% 301-500 BGN 216 6,9% 28,7% 37,0% 22,2% 1,4% 3,7% More than 500 BGN 499 5,0% 18,8% 39,9% 30,5% 3,0% 2,8% Don't know 118 3,4% 18,6% 36,4% 34,7% 3,4% 3,4% NA 379 3,2% 18,5% 42,2% 28,5% 3,2% 4,5% No income 135 6,7% 12,6% 31,1% 38,5% 6,7% 4,4% Less than 250 BGN 354 7,3% 32,8% 31,4% 22,3% 1,1% 5,1% 251-500 BGN 370 6,2% 25,4% 38,9% 25,7% 1,1% 2,7% 501-750 BGN 96 3,1% 17,7% 50,0% 20,8% 2,1% 6,3% Personal monthly income 751-1000 52 3,8% 9,6% 34,6% 46,2% 3,8% 1,9% More than 1000 BGN 29 6,9% 44,8% 34,5% 13,8% Don't know 37 8,1% 24,3% 29,7% 24,3% 8,1% 5,4% NA 359 3,9% 18,1% 42,3% 29,2% 2,5% 3,9% I don't use financial services 584 6,7% 25,7% 34,9% 25,2% 1,4% 6,2% One 389 5,4% 20,1% 38,8% 28,0% 4,1% 3,6% Financial services usage Two 242 5,0% 24,4% 39,7% 26,0% 3,3% 1,7% Three and more 217 3,7% 17,5% 40,6% 34,6% 2,3% 1,4% Total 1432 5,6% 22,7% 37,6% 27,5% 2,6% 4,0% 95 How often do you read the national newspapers? How often do you read the local newspapers? Once a Once a month or Few times a Few times a month or Few times a Few times a Never less month week Daily Never less month week Daily Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 9,7% 9,3% 16,0% 27,5% 37,5% 60,6% 12,3% 8,6% 9,7% 8,9% Regional center 484 11,8% 19,6% 22,9% 24,0% 21,7% 21,1% 28,3% 22,7% 21,7% 6,2% Type of residence Smaller town 276 17,8% 16,3% 20,7% 27,9% 17,4% 39,5% 23,2% 19,6% 13,4% 4,3% Village 403 31,5% 17,6% 20,6% 20,8% 9,4% 49,4% 19,1% 15,6% 13,2% 2,7% Male 682 15,8% 15,0% 19,5% 25,8% 23,9% 37,1% 23,0% 16,9% 17,0% 6,0% Gender Female 750 20,1% 17,9% 21,5% 23,3% 17,2% 42,7% 20,5% 18,0% 14,0% 4,8% 18-30 311 16,1% 19,3% 24,4% 25,4% 14,8% 40,2% 26,7% 16,7% 11,6% 4,8% 31-40 243 14,0% 15,2% 20,6% 26,3% 23,9% 33,7% 24,3% 19,3% 18,5% 4,1% Age 41-50 253 11,1% 14,2% 21,7% 30,0% 22,9% 31,6% 22,1% 18,2% 19,8% 8,3% 51-60 257 19,5% 14,0% 17,1% 22,2% 27,2% 42,4% 17,9% 16,3% 16,7% 6,6% 60+ 368 26,4% 18,2% 18,8% 20,4% 16,3% 48,1% 18,2% 17,1% 12,8% 3,8% Finished bachelor, master or higher 242 5,4% 10,3% 21,1% 25,2% 38,0% 35,5% 18,6% 16,5% 22,3% 7,0% degree Highest level of education Finished college 38 7,9% 18,4% 21,1% 26,3% 26,3% 26,3% 28,9% 18,4% 15,8% 10,5% achieved Finished secondary school 683 9,8% 14,1% 20,8% 31,2% 24,2% 30,7% 22,8% 21,4% 17,9% 7,2% Finished elementary and lower 465 37,6% 23,2% 20,0% 14,0% 5,2% 56,8% 21,3% 12,0% 8,4% 1,5% Employee 575 9,9% 11,7% 20,9% 29,0% 28,5% 30,4% 22,1% 20,7% 19,8% 7,0% Other status of employed persons 72 23,6% 20,8% 22,2% 20,8% 12,5% 37,5% 37,5% 11,1% 9,7% 4,2% Business owner 81 9,9% 11,1% 17,3% 27,2% 34,6% 32,1% 21,0% 21,0% 13,6% 12,3% Self-employed person in non-agricultural 29 10,3% 20,7% 20,7% 24,1% 24,1% 51,7% 34,5% 10,3% 3,4% activities Self-employed person in agricultural 21 38,1% 33,3% 14,3% 9,5% 4,8% 71,4% 28,6% activities Family helper 5 40,0% 20,0% 40,0% 80,0% 20,0% Main occupational status in the present Registered as unemployed 69 27,5% 24,6% 18,8% 18,8% 10,1% 39,1% 24,6% 15,9% 15,9% 4,3% Unregistered unemployed 74 33,8% 18,9% 16,2% 23,0% 8,1% 62,2% 17,6% 9,5% 8,1% 2,7% Retired - due to age 322 24,5% 19,9% 21,1% 18,9% 15,5% 48,8% 16,1% 17,7% 14,6% 2,8% Retired - other causes 65 33,8% 16,9% 15,4% 20,0% 13,8% 47,7% 24,6% 7,7% 15,4% 4,6% Pupil, student 85 11,8% 18,8% 30,6% 32,9% 5,9% 36,5% 24,7% 22,4% 12,9% 3,5% Housewife 22 18,2% 31,8% 22,7% 13,6% 13,6% 59,1% 9,1% 18,2% 9,1% 4,5% Person unable to work 2 50,0% 50,0% 50,0% 50,0% Another status of non working person 7 42,9% 14,3% 14,3% 28,6% 57,1% 14,3% 28,6% Bulgarian 1202 14,1% 15,4% 20,7% 27,0% 22,8% 37,3% 21,6% 18,4% 16,6% 6,1% Turkish 146 39,0% 19,9% 19,9% 11,6% 9,6% 48,6% 21,2% 15,8% 11,6% 2,7% Ethnicity Roma 62 43,5% 29,0% 14,5% 12,9% 61,3% 29,0% 4,8% 4,8% Other 21 28,6% 14,3% 33,3% 4,8% 19,0% 76,2% 4,8% 14,3% 4,8% No income 3 33,3% 33,3% 33,3% 33,3% 33,3% 33,3% Less than 100 BGN 6 16,7% 16,7% 16,7% 50,0% 50,0% 16,7% 33,3% 101-150 BGN 22 36,4% 18,2% 22,7% 18,2% 4,5% 59,1% 13,6% 13,6% 9,1% 4,5% 151-200 BGN 57 29,8% 21,1% 26,3% 14,0% 8,8% 63,2% 10,5% 12,3% 12,3% 1,8% Total household income 201-300 BGN 132 33,3% 20,5% 20,5% 16,7% 9,1% 53,8% 15,2% 12,9% 14,4% 3,8% 301-500 BGN 216 25,5% 16,2% 18,5% 22,2% 17,6% 40,3% 20,8% 19,0% 14,8% 5,1% More than 500 BGN 499 11,0% 12,2% 20,2% 29,5% 27,1% 36,1% 19,6% 18,8% 17,6% 7,8% Don't know 118 16,9% 26,3% 24,6% 21,2% 11,0% 32,2% 34,7% 16,1% 13,6% 3,4% NA 379 15,3% 17,2% 19,8% 24,5% 23,2% 38,0% 25,6% 17,9% 14,2% 4,2% No income 135 23,0% 16,3% 24,4% 26,7% 9,6% 51,1% 16,3% 17,8% 10,4% 4,4% Less than 250 BGN 354 30,2% 20,1% 20,6% 17,8% 11,3% 51,1% 17,5% 14,1% 14,1% 3,1% 251-500 BGN 370 11,6% 17,6% 21,1% 29,5% 20,3% 30,0% 24,1% 21,6% 18,6% 5,7% 501-750 BGN 96 4,2% 8,3% 15,6% 33,3% 38,5% 32,3% 15,6% 20,8% 19,8% 11,5% Personal monthly income 751-1000 52 7,7% 17,3% 26,9% 48,1% 40,4% 19,2% 7,7% 19,2% 13,5% More than 1000 BGN 29 20,7% 6,9% 10,3% 27,6% 34,5% 65,5% 3,4% 6,9% 13,8% 10,3% Don't know 37 27,0% 24,3% 27,0% 8,1% 13,5% 43,2% 32,4% 10,8% 8,1% 5,4% NA 359 15,0% 16,4% 20,3% 24,0% 24,2% 34,8% 27,9% 18,4% 14,5% 4,5% I don't use financial services 584 25,7% 20,4% 19,7% 20,5% 13,7% 48,6% 21,6% 15,4% 11,5% 2,9% One 389 16,7% 16,5% 21,6% 25,2% 20,1% 39,3% 22,4% 17,2% 15,7% 5,4% Financial services usage Two 242 13,6% 11,2% 22,7% 30,6% 21,9% 33,9% 21,5% 18,6% 20,2% 5,8% Three and more 217 5,1% 12,0% 18,4% 27,2% 37,3% 24,9% 21,2% 22,1% 20,3% 11,5% Total 1432 18,1% 16,5% 20,5% 24,5% 20,4% 40,0% 21,7% 17,5% 15,4% 5,4% 96 How often do you listen to the national radio stations? How often do you listen to the local radio stations? Once a Once a month or Few times a Few times a month or Few times a Few times a Never less month week Daily Never less month week Daily Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 17,1% 5,2% 9,7% 20,4% 47,6% 55,4% 7,1% 5,6% 11,5% 20,4% Regional center 484 14,9% 13,4% 16,9% 23,8% 31,0% 27,3% 19,0% 16,7% 21,5% 15,5% Type of residence Smaller town 276 23,9% 8,3% 10,1% 25,0% 32,6% 48,2% 8,3% 17,0% 13,8% 12,7% Village 403 33,0% 7,4% 9,2% 19,1% 31,3% 54,6% 10,7% 9,2% 13,9% 11,7% Male 682 18,6% 8,8% 11,6% 23,3% 37,7% 39,1% 12,8% 12,9% 17,2% 18,0% Gender Female 750 25,3% 9,6% 12,5% 20,9% 31,6% 48,9% 12,0% 12,3% 14,9% 11,9% 18-30 311 19,3% 10,3% 14,1% 22,5% 33,8% 39,5% 11,9% 10,0% 21,9% 16,7% 31-40 243 16,5% 9,9% 11,9% 25,9% 35,8% 36,2% 12,8% 12,8% 16,9% 21,4% Age 41-50 253 19,4% 9,5% 15,0% 25,3% 30,8% 39,1% 15,0% 16,2% 15,0% 14,6% 51-60 257 23,3% 7,4% 13,2% 19,5% 36,6% 44,4% 13,6% 13,2% 16,3% 12,5% 60+ 368 29,3% 9,0% 7,6% 18,8% 35,3% 57,1% 9,8% 11,7% 10,9% 10,6% Finished bachelor, master or higher 242 10,3% 12,0% 14,9% 23,1% 39,7% 37,6% 15,3% 14,5% 18,2% 14,5% degree Highest level of Finished college 38 18,4% 2,6% 10,5% 21,1% 47,4% 28,9% 13,2% 13,2% 15,8% 28,9% education achieved Finished secondary school 683 19,5% 9,1% 11,7% 24,2% 35,6% 38,8% 13,0% 14,3% 17,7% 16,1% Finished elementary and lower 465 32,5% 8,6% 11,2% 18,7% 29,0% 56,8% 9,7% 9,0% 12,5% 12,0% Employee 575 17,7% 9,2% 12,7% 25,2% 35,1% 36,0% 14,3% 15,1% 17,6% 17,0% Other status of employed persons 72 23,6% 9,7% 11,1% 22,2% 33,3% 45,8% 11,1% 11,1% 16,7% 15,3% Business owner 81 12,3% 8,6% 6,2% 22,2% 50,6% 30,9% 13,6% 11,1% 23,5% 21,0% Self-employed person in 29 20,7% 3,4% 31,0% 10,3% 34,5% 51,7% 13,8% 27,6% 6,9% non-agricultural activities Self-employed person in agricultural 21 38,1% 4,8% 9,5% 4,8% 42,9% 71,4% 4,8% 4,8% 19,0% activities Family helper 5 40,0% 20,0% 20,0% 20,0% 80,0% 20,0% Main occupational status in the present Registered as unemployed 69 26,1% 15,9% 15,9% 18,8% 23,2% 49,3% 11,6% 8,7% 15,9% 14,5% Unregistered unemployed 74 31,1% 9,5% 17,6% 14,9% 27,0% 54,1% 12,2% 5,4% 13,5% 14,9% Retired - due to age 322 29,2% 9,0% 8,4% 18,9% 34,5% 56,8% 10,2% 12,1% 10,2% 10,6% Retired - other causes 65 23,1% 6,2% 7,7% 24,6% 38,5% 43,1% 13,8% 7,7% 24,6% 10,8% Pupil, student 85 9,4% 8,2% 17,6% 30,6% 34,1% 36,5% 10,6% 10,6% 27,1% 15,3% Housewife 22 45,5% 13,6% 9,1% 13,6% 18,2% 54,5% 13,6% 9,1% 9,1% 13,6% Person unable to work 2 50,0% 50,0% 50,0% 50,0% Another status of non working person 7 28,6% 14,3% 14,3% 28,6% 14,3% 57,1% 14,3% 14,3% 14,3% Bulgarian 1202 20,0% 10,0% 12,1% 21,9% 35,9% 41,8% 12,8% 13,4% 16,4% 15,6% Turkish 146 34,2% 4,1% 11,6% 24,0% 26,0% 63,0% 11,0% 6,8% 11,6% 7,5% Ethnicity Roma 62 24,2% 9,7% 11,3% 24,2% 30,6% 43,5% 9,7% 9,7% 19,4% 17,7% Other 21 52,4% 9,5% 14,3% 23,8% 61,9% 4,8% 14,3% 14,3% 4,8% No income 3 33,3% 33,3% 33,3% 33,3% 66,7% Less than 100 BGN 6 16,7% 16,7% 16,7% 16,7% 33,3% 50,0% 33,3% 16,7% 101-150 BGN 22 36,4% 4,5% 4,5% 18,2% 36,4% 63,6% 9,1% 4,5% 9,1% 13,6% 151-200 BGN 57 33,3% 8,8% 12,3% 19,3% 26,3% 64,9% 7,0% 5,3% 15,8% 7,0% Total household income 201-300 BGN 132 32,6% 8,3% 12,9% 15,2% 31,1% 56,1% 7,6% 11,4% 14,4% 10,6% 301-500 BGN 216 27,3% 9,3% 10,6% 18,1% 34,7% 47,7% 14,8% 12,5% 13,0% 12,0% More than 500 BGN 499 20,2% 6,8% 10,4% 23,0% 39,5% 40,7% 10,8% 14,2% 16,2% 18,0% Don't know 118 10,2% 11,9% 20,3% 28,8% 28,8% 33,9% 16,9% 10,2% 20,3% 18,6% NA 379 19,5% 12,1% 12,4% 24,0% 31,9% 42,0% 14,0% 13,5% 16,6% 14,0% No income 135 23,0% 6,7% 15,6% 25,2% 29,6% 45,9% 9,6% 9,6% 20,0% 14,8% Less than 250 BGN 354 27,4% 10,7% 8,8% 20,1% 33,1% 55,4% 11,3% 8,5% 13,8% 11,0% 251-500 BGN 370 22,2% 7,0% 12,2% 21,6% 37,0% 39,5% 11,6% 17,0% 15,4% 16,5% Personal monthly 501-750 BGN 96 18,8% 6,3% 13,5% 18,8% 42,7% 37,5% 11,5% 12,5% 16,7% 21,9% income 751-1000 52 17,3% 1,9% 9,6% 25,0% 46,2% 40,4% 5,8% 11,5% 23,1% 19,2% More than 1000 BGN 29 17,2% 3,4% 6,9% 24,1% 48,3% 44,8% 3,4% 10,3% 20,7% 20,7% Don't know 37 18,9% 5,4% 18,9% 24,3% 32,4% 43,2% 8,1% 5,4% 27,0% 16,2% NA 359 18,9% 13,6% 13,6% 23,4% 30,4% 40,1% 17,5% 14,2% 14,5% 13,6% I don't use financial services 584 30,1% 11,1% 12,5% 18,2% 28,1% 53,9% 12,7% 11,0% 9,4% 13,0% Financial services One 389 18,3% 7,7% 13,1% 20,8% 40,1% 42,2% 12,9% 13,6% 17,2% 14,1% usage Two 242 19,8% 8,3% 9,9% 29,8% 32,2% 41,3% 9,5% 13,2% 22,3% 13,6% Three and more 217 10,1% 7,8% 11,5% 26,3% 44,2% 25,3% 13,8% 14,3% 24,4% 22,1% Total 1432 22,1% 9,2% 12,1% 22,1% 34,5% 44,3% 12,4% 12,6% 16,0% 14,8% 97 How often do you watch the national TV programs? How often do you watch the local TV programs? Once a Once a month or Few times a Few times a month or Few times a Few times a Never less month week Daily Never less month week Daily Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 2,6% 2,6% 7,8% 87,0% 39,0% 8,6% 8,6% 11,2% 32,7% Regional center 484 ,6% ,4% 1,7% 9,1% 88,2% 20,0% 10,1% 13,2% 29,1% 27,5% Type of residence Smaller town 276 1,4% ,4% 5,1% 93,1% 35,1% 4,7% 15,9% 20,7% 23,6% Village 403 ,7% 1,0% 1,0% 6,5% 90,8% 54,8% 6,7% 8,7% 13,9% 15,9% Male 682 1,5% ,1% ,6% 9,5% 88,3% 33,9% 7,8% 13,2% 20,5% 24,6% Gender Female 750 ,9% ,7% 2,1% 5,3% 90,9% 38,5% 7,9% 10,1% 19,2% 24,3% 18-30 311 1,0% ,3% 3,5% 14,1% 81,0% 32,5% 10,9% 16,1% 19,3% 21,2% 31-40 243 1,6% 1,2% 1,2% 6,6% 89,3% 32,5% 9,5% 13,2% 19,8% 25,1% Age 41-50 253 2,4% 1,2% 4,7% 91,7% 32,0% 9,1% 11,1% 21,3% 26,5% 51-60 257 ,4% ,8% 7,4% 91,4% 33,1% 5,8% 10,9% 22,6% 27,6% 60+ 368 ,8% ,8% 3,8% 94,6% 47,3% 4,6% 7,6% 17,4% 23,1% Finished bachelor, master or higher degree 242 1,7% 2,5% 6,2% 89,7% 26,9% 11,6% 14,5% 22,7% 24,4% Highest level of education Finished college 38 5,3% 94,7% 21,1% 15,8% 13,2% 23,7% 26,3% achieved Finished secondary school 683 ,9% ,4% ,7% 6,4% 91,5% 31,6% 7,9% 11,7% 21,2% 27,5% Finished elementary and lower 465 1,5% ,6% 1,9% 9,2% 86,7% 49,2% 5,2% 9,9% 15,7% 20,0% Employee 575 1,2% ,7% 6,1% 92,0% 30,1% 7,7% 12,2% 24,2% 25,9% Other status of employed persons 72 1,4% 1,4% 15,3% 81,9% 37,5% 11,1% 12,5% 19,4% 19,4% Business owner 81 1,2% 3,7% 8,6% 86,4% 29,6% 11,1% 11,1% 18,5% 29,6% Self-employed person in non-agricultural 29 3,4% 3,4% 6,9% 86,2% 24,1% 13,8% 13,8% 20,7% 27,6% activities Self-employed person in agricultural 21 4,8% 19,0% 76,2% 66,7% 9,5% 4,8% 9,5% 9,5% activities Family helper 5 20,0% 20,0% 60,0% 40,0% 20,0% 20,0% 20,0% Main occupational status in the present Registered as unemployed 69 2,9% 1,4% 1,4% 4,3% 89,9% 39,1% 5,8% 10,1% 14,5% 30,4% Unregistered unemployed 74 1,4% 4,1% 13,5% 81,1% 41,9% 10,8% 10,8% 12,2% 24,3% Retired - due to age 322 ,9% ,3% ,6% 4,7% 93,5% 46,3% 5,6% 7,5% 19,3% 21,4% Retired - other causes 65 3,1% 1,5% 95,4% 43,1% 6,2% 13,8% 4,6% 32,3% Pupil, student 85 1,2% 4,7% 17,6% 76,5% 29,4% 8,2% 23,5% 24,7% 14,1% Housewife 22 4,5% 4,5% 90,9% 36,4% 13,6% 9,1% 9,1% 31,8% Person unable to work 2 100,0% 50,0% 50,0% Another status of non working person 7 100,0% 42,9% 14,3% 42,9% Bulgarian 1202 1,2% ,3% 1,3% 6,5% 90,7% 32,6% 7,8% 11,5% 21,1% 27,0% Turkish 146 1,4% ,7% 1,4% 11,0% 85,6% 61,6% 7,5% 8,2% 12,3% 10,3% Ethnicity Roma 62 1,6% 1,6% 3,2% 12,9% 80,6% 41,9% 9,7% 19,4% 14,5% 14,5% Other 21 14,3% 85,7% 57,1% 4,8% 14,3% 14,3% 9,5% No income 3 33,3% 66,7% 33,3% 33,3% 33,3% Less than 100 BGN 6 16,7% 83,3% 50,0% 16,7% 33,3% 101-150 BGN 22 4,5% 95,5% 50,0% 4,5% 4,5% 40,9% 151-200 BGN 57 10,5% 89,5% 57,9% 1,8% 3,5% 17,5% 19,3% Total household income 201-300 BGN 132 2,3% ,8% 3,0% 8,3% 85,6% 45,5% 4,5% 12,1% 13,6% 24,2% 301-500 BGN 216 1,4% ,9% 6,9% 90,7% 37,5% 6,9% 12,0% 21,3% 22,2% More than 500 BGN 499 ,4% ,2% ,4% 6,0% 93,0% 31,9% 7,6% 10,4% 21,6% 28,5% Don't know 118 2,5% ,8% 2,5% 10,2% 83,9% 34,7% 12,7% 19,5% 22,0% 11,0% NA 379 1,6% ,8% 2,1% 7,7% 87,9% 34,6% 9,8% 11,9% 19,5% 24,3% No income 135 ,7% 3,7% 14,1% 81,5% 36,3% 9,6% 17,0% 17,0% 20,0% Less than 250 BGN 354 ,8% ,3% 1,1% 5,6% 92,1% 46,9% 4,2% 8,5% 17,8% 22,6% 251-500 BGN 370 ,8% ,5% 6,2% 92,4% 33,0% 7,6% 11,9% 21,4% 26,2% 501-750 BGN 96 1,0% 1,0% 5,2% 92,7% 25,0% 11,5% 10,4% 20,8% 32,3% Personal monthly income 751-1000 52 1,9% 7,7% 90,4% 28,8% 7,7% 3,8% 26,9% 32,7% More than 1000 BGN 29 3,4% 3,4% 93,1% 34,5% 6,9% 6,9% 13,8% 37,9% Don't know 37 5,4% 2,7% 8,1% 5,4% 78,4% 43,2% 2,7% 29,7% 18,9% 5,4% NA 359 1,7% ,8% 1,4% 8,6% 87,5% 32,9% 10,6% 12,3% 20,6% 23,7% I don't use financial services 584 1,4% ,7% 1,9% 8,7% 87,3% 43,7% 7,7% 11,3% 16,3% 21,1% One 389 1,3% ,5% 1,0% 5,9% 91,3% 33,7% 7,7% 12,1% 21,1% 25,4% Financial services usage Two 242 ,8% ,8% 5,4% 93,0% 32,6% 7,0% 10,3% 23,1% 26,9% Three and more 217 ,9% 1,4% 8,3% 89,4% 25,3% 9,2% 12,9% 23,5% 29,0% Total 1432 1,2% ,4% 1,4% 7,3% 89,7% 36,3% 7,8% 11,6% 19,8% 24,4% 98 Do you know to use a computer? Yes No Base: Row % Row % Sofia 269 70,3% 29,7% Regional center 484 53,7% 46,3% Type of residence Smaller town 276 36,6% 63,4% Village 403 23,8% 76,2% Male 682 46,9% 53,1% Gender Female 750 43,5% 56,5% 18-30 311 80,7% 19,3% 31-40 243 63,0% 37,0% Age 41-50 253 54,5% 45,5% 51-60 257 29,6% 70,4% 60+ 368 7,6% 92,4% Finished bachelor, master or higher 242 87,6% 12,4% degree Highest level of education Finished college 38 47,4% 52,6% achieved Finished secondary school 683 50,4% 49,6% Finished elementary and lower 465 15,1% 84,9% Employee 575 63,5% 36,5% Other status of employed persons 72 26,4% 73,6% Business owner 81 75,3% 24,7% Self-employed person in non-agricultural 29 75,9% 24,1% activities Self-employed person in agricultural 21 19,0% 81,0% activities Family helper 5 100,0% Main occupational status in the present Registered as unemployed 69 24,6% 75,4% Unregistered unemployed 74 33,8% 66,2% Retired - due to age 322 7,1% 92,9% Retired - other causes 65 12,3% 87,7% Pupil, student 85 96,5% 3,5% Housewife 22 63,6% 36,4% Person unable to work 2 50,0% 50,0% Another status of non working person 7 71,4% 28,6% Bulgarian 1202 49,4% 50,6% Turkish 146 26,7% 73,3% Ethnicity Roma 62 9,7% 90,3% Other 21 33,3% 66,7% No income 3 66,7% 33,3% Less than 100 BGN 6 33,3% 66,7% 101-150 BGN 22 13,6% 86,4% 151-200 BGN 57 5,3% 94,7% Total household income 201-300 BGN 132 12,1% 87,9% 301-500 BGN 216 21,3% 78,7% More than 500 BGN 499 54,1% 45,9% Don't know 118 55,9% 44,1% NA 379 62,8% 37,2% No income 135 61,5% 38,5% Less than 250 BGN 354 13,3% 86,7% 251-500 BGN 370 38,9% 61,1% 501-750 BGN 96 68,8% 31,3% Personal monthly income 751-1000 52 82,7% 17,3% More than 1000 BGN 29 79,3% 20,7% Don't know 37 59,5% 40,5% NA 359 60,7% 39,3% I don't use financial services 584 30,3% 69,7% One 389 43,7% 56,3% Financial services usage Two 242 53,3% 46,7% Three and more 217 78,3% 21,7% Total 99 1432 45,1% 54,9% How often do you use the Internet (including e-mail)? Once a month or Few times a Few times a Never less month week Daily Base: Row % Row % Row % Row % Row % Sofia 189 ,5% 2,1% 6,3% 24,3% 66,7% Regional center 260 ,8% 3,1% 7,7% 21,9% 66,5% Type of residence Smaller town 101 2,0% 2,0% 6,9% 17,8% 71,3% Village 96 6,3% 7,3% 11,5% 22,9% 52,1% Male 320 2,2% 2,8% 8,4% 25,3% 61,3% Gender Female 326 1,2% 3,7% 7,1% 19,0% 69,0% 18-30 251 2,8% 2,0% 6,4% 12,7% 76,1% 31-40 153 3,3% 4,6% 22,2% 69,9% Age 41-50 138 2,9% 2,9% 10,1% 26,1% 58,0% 51-60 76 6,6% 14,5% 28,9% 50,0% 60+ 28 7,1% 7,1% 67,9% 17,9% Finished bachelor, master or higher 212 ,5% 1,9% 5,7% 16,0% 75,9% degree Highest level of education Finished college 18 5,6% 5,6% 16,7% 72,2% achieved Finished secondary school 344 1,7% 3,8% 8,7% 26,7% 59,0% Finished elementary and lower 70 5,7% 4,3% 8,6% 20,0% 61,4% Employee 365 1,6% 3,0% 8,5% 22,2% 64,7% Other status of employed persons 19 21,1% 15,8% 63,2% Business owner 61 3,3% 3,3% 19,7% 73,8% Self-employed person in non-agricultural 22 4,5% 9,1% 27,3% 59,1% activities Self-employed person in agricultural 4 50,0% 50,0% activities Main occupational status in Registered as unemployed 17 5,9% 5,9% 11,8% 41,2% 35,3% the present Unregistered unemployed 25 12,0% 20,0% 68,0% Retired - due to age 23 8,7% 4,3% 60,9% 26,1% Retired - other causes 8 12,5% 50,0% 37,5% Pupil, student 82 1,2% 2,4% 2,4% 9,8% 84,1% Housewife 14 14,3% 21,4% 64,3% Person unable to work 1 100,0% Another status of non working person 5 60,0% 40,0% Bulgarian 594 ,7% 3,4% 7,1% 22,2% 66,7% Turkish 39 12,8% 2,6% 12,8% 20,5% 51,3% Ethnicity Roma 6 16,7% 16,7% 16,7% 50,0% Other 7 14,3% 28,6% 28,6% 28,6% No income 2 100,0% Less than 100 BGN 2 100,0% 101-150 BGN 3 33,3% 33,3% 33,3% 151-200 BGN 3 33,3% 66,7% Total household income 201-300 BGN 16 6,3% 18,8% 31,3% 43,8% 301-500 BGN 46 2,2% 8,7% 13,0% 26,1% 50,0% More than 500 BGN 270 1,1% 3,3% 10,7% 21,5% 63,3% Don't know 66 3,0% 4,5% 9,1% 83,3% NA 238 1,3% 2,9% 3,8% 23,9% 68,1% No income 83 4,8% 2,4% 3,6% 13,3% 75,9% Less than 250 BGN 47 4,3% 4,3% 10,6% 38,3% 42,6% 251-500 BGN 144 1,4% 6,3% 13,9% 25,7% 52,8% 501-750 BGN 66 1,5% 1,5% 7,6% 16,7% 72,7% Personal monthly income 751-1000 43 7,0% 16,3% 76,7% More than 1000 BGN 23 8,7% 30,4% 60,9% Don't know 22 9,1% 4,5% 86,4% NA 218 ,9% 2,3% 5,5% 23,4% 67,9% I don't use financial services 177 4,0% 2,3% 7,3% 22,6% 63,8% One 170 1,2% 2,4% 5,9% 30,0% 60,6% Financial services usage Two 129 ,8% 7,0% 8,5% 21,7% 62,0% Three and more 170 ,6% 2,4% 9,4% 14,1% 73,5% Total 646 1,7% 3,3% 7,7% 22,1% 65,2% Computer users 100 How much do you trust…… Commercial banks operating in Bulgaria Insurance companies Does not Does not trust at all Little Average Much Very much Don't know trust at all Little Average Much Very much Don't know Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 20,4% 13,4% 30,1% 24,5% 6,7% 4,8% 28,3% 19,3% 28,3% 10,0% 4,5% 9,7% Regional center 484 14,7% 20,2% 36,4% 16,3% 2,1% 10,3% 21,9% 23,1% 30,8% 12,2% 2,3% 9,7% Type of residence Smaller town 276 21,0% 14,9% 34,4% 14,9% 2,9% 12,0% 29,7% 17,8% 24,3% 9,8% 2,5% 15,9% Village 403 24,1% 14,1% 29,5% 16,4% 2,5% 13,4% 26,6% 18,6% 21,1% 11,9% 1,7% 20,1% Male 682 22,7% 16,0% 32,1% 16,4% 2,8% 10,0% 29,9% 20,1% 25,1% 10,9% 1,9% 12,2% Gender Female 750 16,8% 16,4% 33,6% 18,7% 3,6% 10,9% 22,3% 20,1% 27,5% 11,6% 3,2% 15,3% 18-30 311 11,6% 18,0% 29,9% 18,6% 6,8% 15,1% 15,1% 20,9% 28,3% 13,2% 4,8% 17,7% 31-40 243 19,3% 19,8% 34,2% 19,3% 2,5% 4,9% 26,3% 22,6% 30,5% 12,3% 2,1% 6,2% Age 41-50 253 16,6% 14,2% 39,9% 17,4% 4,7% 7,1% 22,5% 22,1% 32,8% 12,6% 2,4% 7,5% 51-60 257 20,6% 15,6% 34,6% 19,8% 1,6% 7,8% 30,7% 17,1% 26,8% 10,9% 2,7% 11,7% 60+ 368 28,0% 14,1% 28,5% 14,1% ,8% 14,4% 33,7% 18,5% 17,1% 8,2% 1,1% 21,5% Finished bachelor, master or higher 242 10,3% 13,6% 38,8% 29,8% 5,4% 2,1% 14,9% 23,6% 36,4% 17,8% 2,1% 5,4% degree Highest level of education Finished college 38 21,1% 10,5% 42,1% 21,1% 2,6% 2,6% 23,7% 26,3% 34,2% 10,5% 5,3% achieved Finished secondary school 683 18,9% 18,4% 35,6% 18,0% 3,7% 5,4% 27,7% 21,7% 30,0% 11,6% 3,2% 5,9% Finished elementary and lower 465 25,6% 14,4% 25,4% 10,3% 1,3% 23,0% 29,5% 15,5% 14,8% 7,5% 1,9% 30,8% Employee 575 15,5% 17,4% 35,8% 22,6% 4,9% 3,8% 23,5% 22,8% 31,8% 14,4% 3,0% 4,5% Other status of employed persons 72 26,4% 18,1% 20,8% 16,7% 1,4% 16,7% 25,0% 16,7% 26,4% 6,9% 1,4% 23,6% Business owner 81 13,6% 17,3% 43,2% 17,3% 7,4% 1,2% 22,2% 27,2% 21,0% 19,8% 4,9% 4,9% Self-employed person in 29 24,1% 17,2% 31,0% 20,7% 6,9% 31,0% 13,8% 31,0% 13,8% 3,4% 6,9% non-agricultural activities Self-employed person in agricultural 21 38,1% 9,5% 23,8% 19,0% 9,5% 42,9% 4,8% 28,6% 9,5% 14,3% activities Family helper 5 40,0% 60,0% 40,0% 40,0% 20,0% Main occupational status in the present Registered as unemployed 69 26,1% 13,0% 30,4% 11,6% 18,8% 27,5% 21,7% 20,3% 4,3% 2,9% 23,2% Unregistered unemployed 74 25,7% 17,6% 23,0% 6,8% 4,1% 23,0% 24,3% 17,6% 16,2% 8,1% 4,1% 29,7% Retired - due to age 322 27,0% 13,7% 30,1% 15,2% ,3% 13,7% 35,1% 17,4% 19,3% 7,5% ,6% 20,2% Retired - other causes 65 20,0% 18,5% 30,8% 10,8% 20,0% 27,7% 18,5% 21,5% 6,2% 26,2% Pupil, student 85 3,5% 15,3% 41,2% 16,5% 4,7% 18,8% 8,2% 15,3% 35,3% 11,8% 7,1% 22,4% Housewife 22 4,5% 27,3% 36,4% 9,1% 13,6% 9,1% 4,5% 31,8% 22,7% 18,2% 4,5% 18,2% Person unable to work 2 50,0% 50,0% 50,0% 50,0% Another status of non working person 7 28,6% 14,3% 28,6% 28,6% 28,6% 14,3% 42,9% 14,3% Bulgarian 1202 18,7% 16,5% 33,6% 19,6% 3,7% 8,0% 25,2% 21,4% 28,0% 12,4% 3,0% 10,1% Turkish 146 21,9% 15,1% 36,3% 6,8% ,7% 19,2% 29,5% 16,4% 21,2% 3,4% ,7% 28,8% Ethnicity Roma 62 32,3% 17,7% 14,5% 1,6% 1,6% 32,3% 32,3% 8,1% 12,9% 6,5% 40,3% Other 21 19,0% 4,8% 23,8% 23,8% 28,6% 23,8% 9,5% 4,8% 14,3% 47,6% No income 3 33,3% 66,7% 33,3% 33,3% 33,3% Less than 100 BGN 6 16,7% 33,3% 33,3% 16,7% 50,0% 16,7% 33,3% 101-150 BGN 22 36,4% 13,6% 13,6% 36,4% 27,3% 31,8% 9,1% 31,8% 151-200 BGN 57 38,6% 10,5% 10,5% 12,3% 1,8% 26,3% 38,6% 10,5% 12,3% 7,0% 31,6% Total household income 201-300 BGN 132 28,0% 15,9% 28,0% 9,1% ,8% 18,2% 31,1% 18,2% 20,5% 6,8% 23,5% 301-500 BGN 216 23,1% 19,9% 29,6% 12,0% ,5% 14,8% 33,3% 20,8% 18,1% 7,9% 1,9% 18,1% More than 500 BGN 499 17,8% 15,4% 36,7% 21,2% 4,0% 4,8% 26,1% 20,4% 30,1% 12,6% 3,0% 7,8% Don't know 118 17,8% 12,7% 34,7% 14,4% ,8% 19,5% 19,5% 18,6% 22,9% 9,3% ,8% 28,8% NA 379 13,7% 17,2% 35,6% 21,9% 5,3% 6,3% 19,3% 21,4% 32,2% 14,8% 4,5% 7,9% No income 135 18,5% 16,3% 35,6% 10,4% 3,7% 15,6% 18,5% 20,0% 23,0% 11,1% 3,7% 23,7% Less than 250 BGN 354 26,3% 14,7% 26,8% 12,4% ,8% 18,9% 31,9% 15,5% 20,1% 7,6% ,8% 24,0% 251-500 BGN 370 19,2% 17,8% 38,1% 15,7% 2,2% 7,0% 28,6% 23,0% 28,1% 10,5% 1,6% 8,1% 501-750 BGN 96 18,8% 18,8% 32,3% 25,0% 3,1% 2,1% 28,1% 25,0% 29,2% 10,4% 1,0% 6,3% Personal monthly income 751-1000 52 13,5% 13,5% 30,8% 32,7% 5,8% 3,8% 15,4% 21,2% 34,6% 17,3% 3,8% 7,7% More than 1000 BGN 29 24,1% 3,4% 31,0% 24,1% 17,2% 31,0% 13,8% 17,2% 13,8% 13,8% 10,3% Don't know 37 16,2% 10,8% 21,6% 18,9% 2,7% 29,7% 24,3% 13,5% 16,2% 13,5% 2,7% 29,7% NA 359 15,0% 17,3% 34,3% 22,6% 5,0% 5,8% 20,6% 21,4% 31,8% 14,5% 4,2% 7,5% I don't use financial services 584 20,4% 15,9% 31,2% 13,5% 2,4% 16,6% 25,5% 18,3% 21,2% 11,3% 2,4% 21,2% One 389 24,9% 15,9% 31,4% 17,7% 4,1% 5,9% 33,2% 21,1% 24,9% 9,3% 2,3% 9,3% Financial services usage Two 242 16,1% 19,0% 37,6% 18,2% 2,1% 7,0% 21,9% 19,4% 37,2% 8,7% 1,7% 11,2% Three and more 217 12,0% 14,3% 35,0% 27,6% 5,1% 6,0% 18,4% 24,0% 30,4% 17,5% 4,6% 5,1% Total 1432 19,6% 16,2% 32,9% 17,6% 3,2% 10,5% 25,9% 20,1% 26,3% 11,2% 2,6% 13,8% 101 How much do you trust…… Securities companies Mutual Help Associations Does not Does not trust at all Little Average Much Very much Don't know trust at all Little Average Much Very much Don't know Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 40,1% 18,2% 13,0% 2,2% ,7% 25,7% 24,2% 8,9% 14,1% 16,0% 7,4% 29,4% Regional center 484 28,9% 16,7% 17,8% 5,0% ,8% 30,8% 15,7% 11,0% 20,2% 12,0% 4,5% 36,6% Type of residence Smaller town 276 29,0% 16,7% 12,7% 5,8% 1,1% 34,8% 14,9% 9,8% 16,7% 13,4% 4,0% 41,3% Village 403 29,3% 12,9% 12,9% 7,9% ,7% 36,2% 19,1% 9,4% 14,6% 14,6% 2,5% 39,7% Male 682 35,5% 14,5% 14,2% 5,7% ,7% 29,3% 21,4% 10,6% 16,0% 13,2% 3,5% 35,3% Gender Female 750 27,2% 17,2% 14,8% 5,2% ,9% 34,7% 15,1% 9,3% 17,6% 14,3% 5,2% 38,5% 18-30 311 18,0% 18,3% 15,8% 7,4% 1,9% 38,6% 13,2% 12,2% 16,1% 5,5% 4,8% 48,2% 31-40 243 32,5% 20,6% 20,2% 4,1% 22,6% 21,0% 12,3% 21,8% 12,8% 2,9% 29,2% Age 41-50 253 33,2% 17,4% 15,0% 6,7% ,4% 27,3% 15,8% 9,5% 15,0% 17,8% 4,7% 37,2% 51-60 257 35,4% 14,4% 13,6% 5,1% 1,6% 30,0% 19,8% 8,9% 19,5% 18,3% 6,6% 26,8% 60+ 368 37,0% 10,9% 10,1% 4,1% ,3% 37,8% 20,7% 7,3% 13,6% 15,5% 3,3% 39,7% Finished bachelor, master or higher 242 27,3% 23,6% 22,3% 7,0% 19,8% 14,0% 9,5% 21,5% 20,2% 5,8% 28,9% degree Highest level of Finished college 38 42,1% 15,8% 21,1% 2,6% 18,4% 18,4% 7,9% 23,7% 13,2% 5,3% 31,6% education achieved Finished secondary school 683 34,0% 17,9% 15,7% 5,6% 1,5% 25,5% 19,5% 11,3% 19,8% 14,8% 5,4% 29,3% Finished elementary and lower 465 28,2% 8,8% 8,4% 4,7% ,2% 49,7% 18,3% 8,0% 9,7% 9,0% 1,9% 53,1% Employee 575 30,3% 23,7% 16,3% 7,1% 1,2% 21,4% 16,9% 11,8% 21,0% 18,3% 6,4% 25,6% Other status of employed persons 72 29,2% 9,7% 11,1% 4,2% 45,8% 18,1% 9,7% 16,7% 6,9% 48,6% Business owner 81 38,3% 13,6% 17,3% 7,4% 2,5% 21,0% 24,7% 7,4% 17,3% 8,6% 7,4% 34,6% Self-employed person in 29 27,6% 13,8% 27,6% 31,0% 10,3% 24,1% 17,2% 6,9% 41,4% non-agricultural activities Self-employed person in agricultural 21 33,3% 14,3% 9,5% 14,3% 28,6% 28,6% 14,3% 14,3% 9,5% 4,8% 28,6% activities Family helper 5 40,0% 60,0% 40,0% 60,0% Main occupational status in the present Registered as unemployed 69 30,4% 5,8% 13,0% 4,3% 46,4% 18,8% 13,0% 10,1% 5,8% 2,9% 49,3% Unregistered unemployed 74 28,4% 16,2% 9,5% 2,7% 43,2% 16,2% 8,1% 13,5% 2,7% 1,4% 58,1% Retired - due to age 322 39,8% 9,0% 11,5% 3,7% 36,0% 20,5% 6,5% 13,7% 17,4% 2,8% 39,1% Retired - other causes 65 23,1% 13,8% 10,8% 3,1% 49,2% 16,9% 7,7% 12,3% 6,2% 3,1% 53,8% Pupil, student 85 10,6% 11,8% 21,2% 4,7% 2,4% 49,4% 8,2% 9,4% 17,6% 8,2% 4,7% 51,8% Housewife 22 22,7% 13,6% 13,6% 4,5% 4,5% 40,9% 18,2% 9,1% 9,1% 9,1% 4,5% 50,0% Person unable to work 2 50,0% 50,0% 100,0% Another status of non working person 7 28,6% 71,4% 28,6% 71,4% Bulgarian 1202 32,6% 17,2% 15,9% 6,2% 1,0% 27,1% 18,2% 10,1% 18,2% 15,6% 5,1% 32,7% Turkish 146 19,9% 10,3% 8,2% ,7% 61,0% 14,4% 11,0% 12,3% 3,4% ,7% 58,2% Ethnicity Roma 62 30,6% 4,8% 3,2% 3,2% 58,1% 24,2% 4,8% 4,8% 1,6% 64,5% Other 21 28,6% 14,3% 9,5% 4,8% 42,9% 19,0% 4,8% 4,8% 9,5% 4,8% 57,1% No income 3 33,3% 33,3% 33,3% 33,3% 66,7% Less than 100 BGN 6 33,3% 16,7% 33,3% 16,7% 16,7% 33,3% 16,7% 33,3% 101-150 BGN 22 27,3% 13,6% 4,5% 54,5% 22,7% 9,1% 4,5% 4,5% 59,1% 151-200 BGN 57 29,8% 5,3% 5,3% 7,0% 52,6% 21,1% 3,5% 8,8% 10,5% 1,8% 54,4% Total household income 201-300 BGN 132 34,8% 12,1% 10,6% 1,5% 40,9% 25,8% 7,6% 7,6% 13,6% 3,8% 41,7% 301-500 BGN 216 37,5% 13,4% 7,9% 3,7% 37,5% 22,2% 8,3% 11,6% 12,0% 2,8% 43,1% More than 500 BGN 499 34,7% 19,2% 14,0% 6,0% 1,0% 25,1% 20,0% 12,0% 18,4% 15,6% 5,0% 28,9% Don't know 118 16,1% 12,7% 16,9% 3,4% 50,8% 6,8% 10,2% 16,9% 5,9% 1,7% 58,5% NA 379 26,6% 16,9% 21,4% 7,9% 1,8% 25,3% 13,2% 9,5% 23,0% 16,1% 6,3% 31,9% No income 135 21,5% 14,8% 14,1% 5,9% ,7% 43,0% 15,6% 7,4% 15,6% 5,2% 2,2% 54,1% Less than 250 BGN 354 31,9% 9,0% 8,8% 3,4% ,3% 46,6% 20,3% 6,5% 10,7% 10,5% 2,5% 49,4% 251-500 BGN 370 35,4% 18,4% 13,8% 4,6% ,3% 27,6% 19,7% 10,8% 20,5% 15,7% 5,1% 28,1% Personal monthly 501-750 BGN 96 43,8% 24,0% 15,6% 3,1% 13,5% 19,8% 12,5% 12,5% 25,0% 4,2% 26,0% income 751-1000 52 28,8% 32,7% 19,2% 5,8% 1,9% 11,5% 26,9% 23,1% 13,5% 13,5% 5,8% 17,3% More than 1000 BGN 29 27,6% 17,2% 10,3% 6,9% 6,9% 31,0% 27,6% 10,3% 6,9% 10,3% 6,9% 37,9% Don't know 37 29,7% 8,1% 10,8% 10,8% 40,5% 13,5% 16,2% 8,1% 13,5% 48,6% NA 359 27,0% 16,7% 20,9% 8,1% 1,7% 25,6% 13,1% 10,0% 22,8% 15,6% 6,4% 32,0% I don't use financial services 584 28,8% 12,0% 16,4% 6,5% ,7% 35,6% 16,6% 9,6% 17,8% 12,5% 2,6% 40,9% One 389 37,0% 14,7% 13,9% 4,6% ,8% 29,0% 24,2% 9,5% 16,7% 13,1% 3,9% 32,6% Financial services usage Two 242 27,7% 20,7% 12,0% 4,5% ,4% 34,7% 11,2% 10,7% 18,2% 15,3% 5,0% 39,7% Three and more 217 30,9% 23,5% 13,4% 5,1% 1,8% 25,3% 18,9% 10,6% 12,9% 16,6% 9,7% 31,3% Total 1432 31,1% 15,9% 14,5% 5,4% ,8% 32,1% 18,1% 9,9% 16,8% 13,8% 4,4% 37,0% 102 How much do you trust…… Leasing companies Pawn shops Does not Does not trust at all Little Average Much Very much Don't know trust at all Little Average Much Very much Don't know Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 28,6% 16,0% 20,1% 11,2% 3,3% 20,8% 57,2% 14,9% 10,4% 2,6% ,4% 14,5% Regional center 484 25,8% 19,2% 18,6% 7,4% 1,7% 27,3% 50,2% 13,6% 9,9% ,8% ,4% 25,0% Type of residence Smaller town 276 29,7% 11,6% 14,5% 9,8% 2,2% 32,2% 48,9% 8,3% 7,6% 5,4% 1,8% 27,9% Village 403 29,5% 11,2% 12,2% 7,7% 2,5% 37,0% 41,4% 11,9% 8,9% 4,2% 1,7% 31,8% Male 682 33,1% 14,7% 14,8% 8,9% 1,8% 26,7% 52,3% 12,2% 9,8% 2,6% 1,0% 22,0% Gender Female 750 23,6% 15,1% 17,6% 8,4% 2,8% 32,5% 45,6% 12,5% 8,8% 3,3% 1,1% 28,7% 18-30 311 19,3% 15,1% 18,3% 10,9% 4,8% 31,5% 38,3% 14,8% 12,9% 4,5% 1,6% 28,0% 31-40 243 31,7% 18,1% 22,2% 7,4% 2,5% 18,1% 53,9% 17,7% 8,2% ,4% 1,6% 18,1% Age 41-50 253 27,3% 18,2% 16,6% 14,2% 1,2% 22,5% 53,0% 14,6% 7,9% 4,0% ,4% 20,2% 51-60 257 31,5% 14,0% 16,7% 7,4% 1,9% 28,4% 54,1% 8,2% 9,7% 2,7% 1,2% 24,1% 60+ 368 31,5% 10,9% 10,1% 4,6% 1,1% 41,8% 47,8% 8,2% 7,6% 3,0% ,5% 32,9% Finished bachelor, master or higher 242 21,5% 20,7% 22,7% 17,8% 2,9% 14,5% 55,4% 18,2% 9,9% 1,2% ,4% 14,9% degree Highest level of Finished college 38 36,8% 15,8% 18,4% 13,2% 15,8% 60,5% 7,9% 13,2% 2,6% 15,8% education achieved Finished secondary school 683 30,6% 15,5% 19,5% 8,2% 2,8% 23,4% 53,9% 13,3% 10,8% 3,4% 1,3% 17,3% Finished elementary and lower 465 27,3% 10,8% 8,2% 4,3% 1,3% 48,2% 37,2% 8,0% 6,5% 3,4% 1,1% 43,9% Employee 575 28,9% 17,0% 19,7% 12,3% 2,8% 19,3% 54,8% 14,3% 10,1% 3,0% 1,4% 16,5% Other status of employed persons 72 25,0% 15,3% 19,4% 8,3% 2,8% 29,2% 41,7% 15,3% 12,5% 5,6% 25,0% Business owner 81 29,6% 16,0% 19,8% 16,0% 3,7% 14,8% 59,3% 7,4% 7,4% 8,6% 2,5% 14,8% Self-employed person in 29 17,2% 27,6% 31,0% 10,3% 13,8% 41,4% 27,6% 10,3% 20,7% non-agricultural activities Self-employed person in agricultural 21 38,1% 4,8% 19,0% 9,5% 28,6% 52,4% 19,0% 4,8% 23,8% activities Family helper 5 40,0% 60,0% 40,0% 60,0% Main occupational status in the present Registered as unemployed 69 24,6% 14,5% 10,1% 5,8% 1,4% 43,5% 37,7% 8,7% 4,3% 2,9% 1,4% 44,9% Unregistered unemployed 74 29,7% 17,6% 8,1% 6,8% 37,8% 37,8% 12,2% 14,9% 35,1% Retired - due to age 322 33,5% 10,6% 10,9% 3,4% 1,2% 40,4% 49,4% 8,4% 8,1% 2,2% ,3% 31,7% Retired - other causes 65 24,6% 10,8% 9,2% 1,5% 53,8% 40,0% 9,2% 4,6% 1,5% 44,6% Pupil, student 85 9,4% 15,3% 21,2% 8,2% 4,7% 41,2% 30,6% 15,3% 14,1% 4,7% 2,4% 32,9% Housewife 22 13,6% 18,2% 18,2% 4,5% 13,6% 31,8% 45,5% 13,6% 4,5% 4,5% 4,5% 27,3% Person unable to work 2 100,0% 100,0% Another status of non working person 7 28,6% 14,3% 14,3% 42,9% 28,6% 28,6% 42,9% Bulgarian 1202 28,7% 16,2% 17,8% 10,0% 2,6% 24,7% 50,9% 13,1% 9,7% 3,3% 1,2% 21,7% Turkish 146 22,6% 9,6% 8,9% 1,4% 57,5% 36,3% 8,2% 6,8% 1,4% 47,3% Ethnicity Roma 62 29,0% 4,8% 4,8% 1,6% 1,6% 58,1% 35,5% 8,1% 8,1% 1,6% 46,8% Other 21 28,6% 4,8% 14,3% 4,8% 4,8% 42,9% 52,4% 14,3% 4,8% 28,6% No income 3 33,3% 66,7% 33,3% 33,3% 33,3% Less than 100 BGN 6 33,3% 16,7% 33,3% 16,7% 33,3% 33,3% 33,3% 101-150 BGN 22 36,4% 9,1% 4,5% 4,5% 45,5% 31,8% 9,1% 4,5% 54,5% 151-200 BGN 57 33,3% 1,8% 7,0% 1,8% 56,1% 36,8% 3,5% 7,0% 1,8% 50,9% Total household 201-300 BGN 132 34,1% 11,4% 10,6% 2,3% 41,7% 43,2% 10,6% 6,1% 3,0% ,8% 36,4% income 301-500 BGN 216 31,9% 14,8% 11,1% 4,6% ,9% 36,6% 50,9% 11,1% 7,9% 2,8% 27,3% More than 500 BGN 499 30,3% 16,4% 18,0% 10,8% 2,8% 21,6% 56,1% 13,0% 9,4% 2,8% 1,0% 17,6% Don't know 118 14,4% 15,3% 13,6% 5,9% ,8% 50,0% 31,4% 11,9% 8,5% 4,2% 44,1% NA 379 24,0% 16,4% 21,6% 12,1% 4,2% 21,6% 48,5% 14,2% 11,6% 3,2% 2,4% 20,1% No income 135 23,0% 17,8% 11,1% 6,7% 2,2% 39,3% 34,1% 11,1% 14,1% 3,0% 1,5% 36,3% Less than 250 BGN 354 31,1% 8,8% 10,2% 3,7% 1,4% 44,9% 41,2% 10,5% 5,6% 4,0% ,6% 38,1% 251-500 BGN 370 30,5% 15,1% 19,5% 7,6% 1,6% 25,7% 56,5% 10,5% 9,7% 2,2% ,8% 20,3% Personal monthly 501-750 BGN 96 34,4% 28,1% 13,5% 10,4% 1,0% 12,5% 66,7% 13,5% 9,4% 10,4% income 751-1000 52 21,2% 25,0% 23,1% 13,5% 17,3% 48,1% 25,0% 11,5% 3,8% 11,5% More than 1000 BGN 29 27,6% 10,3% 3,4% 24,1% 10,3% 24,1% 48,3% 13,8% 3,4% 6,9% 3,4% 24,1% Don't know 37 21,6% 10,8% 10,8% 10,8% 2,7% 43,2% 32,4% 18,9% 2,7% 10,8% 35,1% NA 359 24,8% 15,3% 22,3% 12,8% 3,9% 20,9% 51,0% 13,6% 11,4% 2,5% 1,9% 19,5% I don't use financial services 584 26,9% 14,0% 14,6% 7,9% 2,1% 34,6% 41,4% 11,5% 10,6% 3,8% 1,2% 31,5% Financial services One 389 34,4% 14,4% 14,4% 8,5% 2,6% 25,7% 55,5% 12,9% 8,2% 2,6% 1,5% 19,3% usage Two 242 24,0% 16,5% 20,2% 6,2% 2,1% 31,0% 53,7% 10,3% 8,7% 2,5% 24,8% Three and more 217 24,9% 16,1% 19,8% 13,8% 2,8% 22,6% 51,2% 16,1% 8,3% 2,3% ,9% 21,2% Total 1432 28,1% 14,9% 16,3% 8,7% 2,3% 29,7% 48,8% 12,4% 9,3% 3,0% 1,0% 25,5% 103 How much do you trust…… Private pension funds Consumer credit companies (e.g. Jet Credit, T.B.I, etc.) Does not Does not trust at all Little Average Much Very much Don't know trust at all Little Average Much Very much Don't know Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 39,8% 15,2% 14,5% 3,7% 26,8% 35,7% 11,2% 22,3% 8,6% 2,6% 19,7% Regional center 484 34,7% 17,6% 14,0% 3,7% ,8% 29,1% 35,5% 18,2% 19,6% 4,8% 1,0% 20,9% Type of residence Smaller town 276 39,5% 12,0% 9,1% 5,1% 1,4% 33,0% 42,0% 13,4% 9,4% 7,6% 1,4% 26,1% Village 403 34,5% 13,6% 10,4% 5,7% 1,2% 34,5% 34,5% 11,9% 10,4% 6,7% ,7% 35,7% Male 682 40,5% 13,9% 11,6% 4,4% 1,0% 28,6% 41,9% 13,2% 14,5% 6,5% 1,2% 22,7% Gender Female 750 32,9% 15,9% 12,7% 4,7% ,8% 33,1% 31,6% 15,1% 16,5% 6,7% 1,5% 28,7% 18-30 311 24,8% 14,5% 13,5% 3,9% 1,6% 41,8% 26,7% 15,4% 19,6% 6,1% 2,9% 29,3% 31-40 243 35,8% 22,6% 14,8% 2,1% ,4% 24,3% 41,6% 18,5% 20,2% 7,4% ,4% 11,9% Age 41-50 253 41,5% 15,4% 11,9% 8,7% ,4% 22,1% 38,3% 15,4% 17,8% 10,7% 1,2% 16,6% 51-60 257 40,1% 14,0% 12,1% 6,2% 1,2% 26,5% 39,7% 13,6% 12,5% 7,4% 1,6% 25,3% 60+ 368 41,0% 10,6% 9,5% 2,7% ,8% 35,3% 38,0% 9,8% 9,8% 3,0% ,5% 38,9% Finished bachelor, master or higher 242 36,0% 20,2% 15,7% 6,2% ,4% 21,5% 36,0% 20,7% 22,7% 7,0% ,8% 12,8% degree Highest level of education Finished college 38 44,7% 18,4% 13,2% 5,3% 18,4% 47,4% 13,2% 21,1% 2,6% 2,6% 13,2% achieved Finished secondary school 683 39,7% 16,3% 14,8% 4,7% 1,2% 23,4% 40,8% 15,4% 17,6% 7,9% 1,6% 16,7% Finished elementary and lower 465 31,8% 9,5% 6,5% 3,4% ,9% 48,0% 29,7% 9,0% 8,2% 4,7% 1,1% 47,3% Employee 575 36,2% 19,3% 15,3% 7,3% ,9% 21,0% 40,0% 16,2% 20,5% 9,2% 1,2% 12,9% Other status of employed persons 72 31,9% 11,1% 16,7% 1,4% 38,9% 36,1% 11,1% 16,7% 5,6% 30,6% Business owner 81 49,4% 17,3% 7,4% 8,6% 1,2% 16,0% 35,8% 22,2% 14,8% 12,3% 4,9% 9,9% Self-employed person in 29 31,0% 20,7% 10,3% 37,9% 34,5% 10,3% 27,6% 3,4% 24,1% non-agricultural activities Self-employed person in agricultural 21 57,1% 19,0% 4,8% 19,0% 57,1% 9,5% 9,5% 23,8% activities Family helper 5 40,0% 20,0% 40,0% 40,0% 60,0% Main occupational status Registered as unemployed 69 31,9% 7,2% 10,1% 2,9% 1,4% 46,4% 30,4% 15,9% 4,3% 8,7% 1,4% 39,1% in the present Unregistered unemployed 74 31,1% 10,8% 10,8% 47,3% 28,4% 16,2% 14,9% 4,1% 36,5% Retired - due to age 322 41,6% 11,5% 10,6% 2,2% ,6% 33,5% 38,5% 11,2% 9,6% 2,5% ,6% 37,6% Retired - other causes 65 40,0% 7,7% 6,2% 1,5% 44,6% 27,7% 10,8% 9,2% 3,1% 49,2% Pupil, student 85 15,3% 8,2% 11,8% 4,7% 3,5% 56,5% 20,0% 9,4% 23,5% 3,5% 4,7% 38,8% Housewife 22 27,3% 31,8% 4,5% 4,5% 31,8% 36,4% 9,1% 4,5% 9,1% 4,5% 36,4% Person unable to work 2 50,0% 50,0% 50,0% 50,0% Another status of non working 7 28,6% 14,3% 57,1% 42,9% 28,6% 28,6% person Bulgarian 1202 38,4% 15,3% 13,5% 5,2% 1,1% 26,5% 36,9% 15,0% 17,2% 7,5% 1,6% 21,8% Turkish 146 24,0% 14,4% 6,2% 1,4% 54,1% 36,3% 9,6% 8,2% 45,9% Ethnicity Roma 62 30,6% 8,1% 4,8% 56,5% 30,6% 11,3% 4,8% 4,8% 48,4% Other 21 28,6% 19,0% 52,4% 33,3% 4,8% 4,8% 4,8% 52,4% No income 3 66,7% 33,3% 33,3% 33,3% 33,3% Less than 100 BGN 6 16,7% 33,3% 33,3% 16,7% 33,3% 16,7% 33,3% 16,7% 101-150 BGN 22 31,8% 13,6% 54,5% 27,3% 13,6% 4,5% 4,5% 50,0% 151-200 BGN 57 36,8% 5,3% 8,8% 1,8% 47,4% 36,8% 1,8% 7,0% 1,8% 52,6% Total household income 201-300 BGN 132 37,1% 13,6% 11,4% 1,5% 36,4% 34,8% 13,6% 11,4% 2,3% ,8% 37,1% 301-500 BGN 216 42,1% 12,5% 9,7% 3,2% ,5% 31,9% 40,7% 12,0% 11,1% 4,6% ,9% 30,6% More than 500 BGN 499 38,3% 15,4% 13,6% 4,8% 1,2% 26,7% 39,7% 16,0% 17,0% 8,0% 1,4% 17,8% Don't know 118 18,6% 16,1% 9,3% 4,2% 51,7% 22,9% 16,1% 11,0% 5,9% 1,7% 42,4% NA 379 36,7% 16,9% 13,7% 6,9% 1,6% 24,3% 35,4% 14,5% 20,8% 8,2% 1,8% 19,3% No income 135 27,4% 11,1% 8,1% 3,7% 1,5% 48,1% 27,4% 14,1% 16,3% 4,4% ,7% 37,0% Less than 250 BGN 354 33,9% 10,5% 11,6% 2,5% ,3% 41,2% 35,6% 9,9% 7,9% 4,2% 1,4% 41,0% 251-500 BGN 370 39,2% 17,8% 12,2% 4,6% 1,1% 25,1% 38,6% 16,8% 17,3% 6,2% ,5% 20,5% 501-750 BGN 96 53,1% 15,6% 14,6% 2,1% 1,0% 13,5% 53,1% 12,5% 14,6% 7,3% 2,1% 10,4% Personal monthly income 751-1000 52 32,7% 23,1% 19,2% 1,9% 23,1% 28,8% 23,1% 26,9% 13,5% 1,9% 5,8% More than 1000 BGN 29 31,0% 6,9% 6,9% 13,8% 41,4% 37,9% 13,8% 20,7% 6,9% 20,7% Don't know 37 24,3% 13,5% 8,1% 10,8% 43,2% 29,7% 13,5% 5,4% 10,8% 2,7% 37,8% NA 359 37,6% 17,3% 13,4% 6,4% 1,4% 24,0% 35,9% 15,0% 20,3% 8,4% 1,9% 18,4% I don't use financial services 584 31,3% 13,5% 13,0% 5,5% 1,2% 35,4% 32,4% 10,8% 14,4% 6,2% 1,7% 34,6% One 389 46,0% 12,9% 11,1% 3,6% 1,0% 25,4% 41,4% 14,9% 14,9% 6,4% ,3% 22,1% Financial services usage Two 242 32,6% 16,9% 11,2% 2,9% 36,4% 40,1% 15,3% 16,1% 4,5% ,8% 23,1% Three and more 217 37,8% 20,3% 12,9% 5,5% ,9% 22,6% 35,0% 20,7% 19,4% 10,1% 2,8% 12,0% Total 1432 36,5% 14,9% 12,2% 4,5% ,9% 30,9% 36,5% 14,2% 15,6% 6,6% 1,3% 25,8% 104 How much do you trust…… The Bulgarian economy Bulgarian National Bank Does not Does not trust at all Little Average Much Very much Don't know trust at all Little Average Much Very much Don't know Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 27,9% 18,6% 27,5% 13,4% 1,5% 11,2% 10,8% 7,4% 27,1% 39,0% 11,9% 3,7% Regional center 484 21,1% 24,6% 37,2% 5,6% 1,7% 9,9% 5,8% 14,0% 38,6% 27,5% 6,6% 7,4% Type of residence Smaller town 276 25,7% 18,1% 29,0% 10,9% 1,4% 14,9% 10,9% 10,9% 33,7% 22,5% 10,5% 11,6% Village 403 21,8% 19,4% 26,8% 8,9% 2,7% 20,3% 10,9% 11,2% 31,0% 21,8% 10,9% 14,1% Male 682 27,3% 19,9% 31,1% 8,5% 1,9% 11,3% 10,6% 12,5% 35,3% 25,1% 9,2% 7,3% Gender Female 750 20,0% 21,5% 30,7% 9,5% 1,9% 16,5% 7,9% 10,4% 31,6% 28,9% 9,9% 11,3% 18-30 311 20,3% 17,4% 29,3% 9,6% 2,9% 20,6% 5,8% 11,3% 32,5% 25,7% 11,9% 12,9% 31-40 243 27,2% 19,3% 31,3% 9,9% 1,2% 11,1% 11,5% 14,4% 32,1% 29,6% 6,6% 5,8% Age 41-50 253 19,4% 22,9% 37,9% 11,1% 2,0% 6,7% 4,7% 14,2% 36,8% 30,0% 8,7% 5,5% 51-60 257 23,0% 20,2% 34,2% 7,8% 2,3% 12,5% 10,1% 10,1% 33,5% 28,0% 11,3% 7,0% 60+ 368 26,9% 23,4% 24,7% 7,3% 1,1% 16,6% 12,8% 8,4% 32,6% 23,9% 9,0% 13,3% Finished bachelor, master or higher 242 19,0% 18,2% 38,8% 15,7% ,8% 7,4% 3,3% 9,5% 33,5% 38,8% 12,8% 2,1% degree Highest level of Finished college 38 26,3% 18,4% 44,7% 7,9% 2,6% 7,9% 15,8% 28,9% 39,5% 5,3% 2,6% education achieved Finished secondary school 683 22,8% 21,4% 35,3% 8,3% 2,3% 9,8% 8,6% 11,3% 36,6% 29,3% 10,8% 3,4% Finished elementary and lower 465 26,7% 21,1% 19,1% 6,7% 1,5% 24,9% 13,1% 12,0% 28,8% 17,0% 6,2% 22,8% Employee 575 20,2% 19,5% 37,2% 12,7% 2,1% 8,3% 6,6% 11,8% 34,1% 33,9% 10,1% 3,5% Other status of employed persons 72 26,4% 16,7% 25,0% 11,1% 20,8% 18,1% 16,7% 23,6% 18,1% 8,3% 15,3% Business owner 81 23,5% 17,3% 42,0% 4,9% 4,9% 7,4% 8,6% 12,3% 39,5% 21,0% 18,5% Self-employed person in 29 17,2% 27,6% 41,4% 6,9% 6,9% 6,9% 13,8% 48,3% 27,6% 3,4% non-agricultural activities Self-employed person in agricultural 21 28,6% 14,3% 23,8% 4,8% 9,5% 19,0% 9,5% 9,5% 38,1% 14,3% 14,3% 14,3% activities Family helper 5 40,0% 20,0% 20,0% 20,0% 20,0% 20,0% 20,0% 20,0% 20,0% Main occupational status in the present Registered as unemployed 69 36,2% 13,0% 27,5% 2,9% 1,4% 18,8% 14,5% 14,5% 26,1% 26,1% 2,9% 15,9% Unregistered unemployed 74 33,8% 18,9% 14,9% 2,7% 1,4% 28,4% 8,1% 9,5% 33,8% 14,9% 9,5% 24,3% Retired - due to age 322 26,1% 26,7% 25,5% 5,6% 1,2% 14,9% 12,1% 7,5% 34,2% 25,8% 9,3% 11,2% Retired - other causes 65 20,0% 26,2% 24,6% 7,7% 21,5% 10,8% 15,4% 27,7% 20,0% 1,5% 24,6% Pupil, student 85 15,3% 15,3% 27,1% 14,1% 2,4% 25,9% 3,5% 11,8% 36,5% 24,7% 9,4% 14,1% Housewife 22 18,2% 27,3% 27,3% 4,5% 4,5% 18,2% 22,7% 22,7% 22,7% 22,7% 9,1% Person unable to work 2 50,0% 50,0% 50,0% 50,0% Another status of non working person 7 42,9% 28,6% 14,3% 14,3% 14,3% 28,6% 14,3% 42,9% Bulgarian 1202 23,3% 21,2% 32,7% 10,0% 2,2% 10,6% 8,3% 11,2% 33,3% 29,8% 11,1% 6,3% Turkish 146 19,2% 21,9% 21,9% 3,4% 33,6% 11,0% 13,7% 37,0% 13,0% 2,1% 23,3% Ethnicity Roma 62 37,1% 9,7% 21,0% 1,6% 30,6% 21,0% 9,7% 33,9% 4,8% 30,6% Other 21 23,8% 19,0% 19,0% 14,3% 23,8% 9,5% 9,5% 14,3% 38,1% 28,6% No income 3 33,3% 33,3% 33,3% 33,3% 66,7% Less than 100 BGN 6 33,3% 16,7% 33,3% 16,7% 16,7% 50,0% 33,3% 101-150 BGN 22 31,8% 36,4% 4,5% 4,5% 22,7% 18,2% 18,2% 22,7% 13,6% 27,3% 151-200 BGN 57 31,6% 24,6% 14,0% 1,8% 28,1% 15,8% 15,8% 22,8% 17,5% 5,3% 22,8% Total household income 201-300 BGN 132 32,6% 19,7% 21,2% 6,8% ,8% 18,9% 16,7% 12,1% 28,0% 22,0% 5,3% 15,9% 301-500 BGN 216 27,3% 25,5% 29,2% 3,7% ,5% 13,9% 11,1% 13,0% 39,4% 19,4% 6,9% 10,2% More than 500 BGN 499 20,0% 21,0% 36,7% 10,0% 1,0% 11,2% 6,8% 9,0% 32,9% 38,1% 7,8% 5,4% Don't know 118 18,6% 19,5% 28,8% 8,5% 1,7% 22,9% 7,6% 8,5% 40,7% 16,9% 6,8% 19,5% NA 379 22,2% 17,2% 32,2% 13,2% 4,7% 10,6% 7,4% 13,2% 32,5% 24,3% 16,6% 6,1% No income 135 26,7% 19,3% 22,2% 8,1% ,7% 23,0% 10,4% 12,6% 33,3% 17,8% 9,6% 16,3% Less than 250 BGN 354 28,0% 25,4% 23,2% 5,6% ,6% 17,2% 13,3% 11,6% 30,8% 21,8% 5,6% 16,9% 251-500 BGN 370 23,0% 23,0% 34,3% 6,8% ,3% 12,7% 8,4% 11,1% 38,6% 29,2% 6,8% 5,9% 501-750 BGN 96 15,6% 18,8% 45,8% 10,4% 2,1% 7,3% 4,2% 10,4% 38,5% 33,3% 11,5% 2,1% Personal monthly income 751-1000 52 19,2% 17,3% 38,5% 15,4% 9,6% 5,8% 9,6% 21,2% 55,8% 7,7% More than 1000 BGN 29 27,6% 3,4% 34,5% 20,7% 6,9% 6,9% 17,2% 3,4% 10,3% 58,6% 10,3% Don't know 37 10,8% 16,2% 27,0% 13,5% 2,7% 29,7% 8,1% 2,7% 37,8% 21,6% 8,1% 21,6% NA 359 22,0% 17,3% 33,1% 12,3% 5,0% 10,3% 6,7% 13,1% 32,3% 25,9% 16,2% 5,8% I don't use financial services 584 23,3% 20,4% 24,1% 10,6% 1,7% 19,9% 9,6% 11,3% 31,5% 21,1% 9,6% 17,0% One 389 25,7% 21,1% 35,5% 6,9% 1,5% 9,3% 11,8% 9,8% 36,2% 28,3% 9,8% 4,1% Financial services usage Two 242 21,1% 21,1% 37,6% 6,6% 1,7% 12,0% 5,8% 14,5% 37,6% 28,9% 7,9% 5,4% Three and more 217 22,6% 20,7% 33,2% 11,1% 3,2% 9,2% 6,9% 11,1% 28,6% 39,2% 11,1% 3,2% Total 1432 23,5% 20,7% 30,9% 9,0% 1,9% 14,0% 9,1% 11,4% 33,4% 27,1% 9,6% 9,4% 105 How much do you trust…… Financial Supervision Commission Consumer Protection Commission Does not Does not trust at all Little Average Much Very much Don't know trust at all Little Average Much Very much Don't know Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 20,4% 10,0% 21,6% 14,1% 8,2% 25,7% 20,8% 15,2% 26,0% 19,0% 8,2% 10,8% Regional center 484 14,3% 18,0% 24,6% 9,3% 3,3% 30,6% 19,6% 21,5% 26,2% 9,9% 5,4% 17,4% Type of residence Smaller town 276 17,4% 10,1% 25,7% 10,5% 1,8% 34,4% 20,3% 11,6% 28,6% 13,4% 1,4% 24,6% Village 403 12,4% 10,4% 21,3% 10,7% 3,0% 42,2% 14,6% 13,6% 23,6% 12,9% 2,7% 32,5% Male 682 17,0% 13,6% 24,3% 10,0% 4,1% 30,9% 20,4% 18,0% 24,9% 12,6% 3,8% 20,2% Gender Female 750 14,1% 12,1% 22,4% 11,6% 3,6% 36,1% 16,9% 14,5% 26,8% 13,6% 4,9% 23,2% 18-30 311 11,6% 9,6% 23,5% 12,2% 6,8% 36,3% 12,9% 16,7% 25,1% 14,8% 6,1% 24,4% 31-40 243 17,3% 14,8% 27,2% 12,8% 2,5% 25,5% 22,6% 14,8% 23,5% 18,1% 4,9% 16,0% Age 41-50 253 11,9% 15,0% 27,7% 12,3% 2,4% 30,8% 16,6% 15,8% 32,8% 12,6% 5,5% 16,6% 51-60 257 17,9% 14,4% 23,3% 10,9% 3,9% 29,6% 20,2% 14,8% 30,0% 11,7% 3,9% 19,5% 60+ 368 18,5% 11,7% 17,7% 7,3% 3,3% 41,6% 20,9% 17,9% 20,7% 9,8% 2,2% 28,5% Finished bachelor, master or higher 242 11,2% 15,7% 26,9% 19,8% 6,2% 20,2% 16,1% 18,2% 30,6% 21,5% 5,8% 7,9% degree Highest level of Finished college 38 21,1% 10,5% 28,9% 13,2% 5,3% 21,1% 21,1% 15,8% 34,2% 15,8% 7,9% 5,3% education achieved Finished secondary school 683 17,1% 14,3% 27,4% 10,8% 3,8% 26,5% 19,6% 16,8% 29,7% 13,8% 5,0% 15,1% Finished elementary and lower 465 15,1% 9,5% 15,1% 5,8% 2,4% 52,3% 18,1% 14,4% 17,4% 7,5% 2,4% 40,2% Employee 575 13,9% 14,3% 27,8% 16,0% 4,5% 23,5% 17,0% 17,4% 29,6% 18,1% 5,2% 12,7% Other status of employed persons 72 18,1% 12,5% 15,3% 6,9% 47,2% 19,4% 18,1% 23,6% 8,3% 1,4% 29,2% Business owner 81 21,0% 13,6% 32,1% 9,9% 6,2% 17,3% 25,9% 16,0% 29,6% 11,1% 9,9% 7,4% Self-employed person in 29 10,3% 20,7% 24,1% 10,3% 10,3% 24,1% 13,8% 20,7% 34,5% 17,2% 3,4% 10,3% non-agricultural activities Self-employed person in agricultural 21 14,3% 4,8% 28,6% 9,5% 9,5% 33,3% 19,0% 14,3% 19,0% 9,5% 9,5% 28,6% activities Family helper 5 40,0% 20,0% 40,0% 40,0% 20,0% 40,0% Main occupational status in the present Registered as unemployed 69 23,2% 10,1% 24,6% 7,2% 34,8% 26,1% 8,7% 20,3% 15,9% 4,3% 24,6% Unregistered unemployed 74 13,5% 8,1% 21,6% 4,1% 2,7% 50,0% 18,9% 10,8% 18,9% 9,5% 1,4% 40,5% Retired - due to age 322 17,4% 12,1% 18,0% 7,1% 2,8% 42,5% 20,8% 15,8% 24,5% 7,8% 2,2% 28,9% Retired - other causes 65 10,8% 12,3% 13,8% 4,6% 58,5% 20,0% 15,4% 18,5% 4,6% 1,5% 40,0% Pupil, student 85 8,2% 12,9% 20,0% 10,6% 7,1% 41,2% 5,9% 21,2% 22,4% 11,8% 8,2% 30,6% Housewife 22 22,7% 18,2% 13,6% 9,1% 9,1% 27,3% 18,2% 13,6% 22,7% 18,2% 9,1% 18,2% Person unable to work 2 50,0% 50,0% 50,0% 50,0% Another status of non working person 7 14,3% 14,3% 71,4% 14,3% 14,3% 14,3% 57,1% Bulgarian 1202 15,8% 13,6% 25,0% 12,1% 4,6% 29,0% 18,9% 16,8% 27,5% 14,6% 5,1% 17,1% Turkish 146 13,0% 11,6% 15,8% 4,1% 55,5% 15,8% 15,1% 21,2% 4,1% ,7% 43,2% Ethnicity Roma 62 17,7% 4,8% 12,9% 1,6% 62,9% 22,6% 9,7% 12,9% 1,6% 1,6% 51,6% Other 21 9,5% 4,8% 9,5% 14,3% 61,9% 9,5% 9,5% 4,8% 23,8% 52,4% No income 3 33,3% 33,3% 33,3% 33,3% 33,3% 33,3% Less than 100 BGN 6 50,0% 16,7% 33,3% 16,7% 33,3% 16,7% 33,3% 101-150 BGN 22 13,6% 4,5% 13,6% 68,2% 18,2% 13,6% 13,6% 4,5% 50,0% 151-200 BGN 57 24,6% 8,8% 17,5% 3,5% 1,8% 43,9% 26,3% 14,0% 15,8% 5,3% 1,8% 36,8% Total household 201-300 BGN 132 22,0% 11,4% 15,2% 3,8% 2,3% 45,5% 24,2% 16,7% 19,7% 6,8% 3,0% 29,5% income 301-500 BGN 216 19,0% 12,5% 19,9% 5,1% ,9% 42,6% 22,2% 16,7% 24,1% 7,4% 1,4% 28,2% More than 500 BGN 499 17,0% 14,8% 24,2% 14,0% 3,8% 26,1% 19,4% 17,6% 26,1% 17,6% 4,2% 15,0% Don't know 118 5,1% 11,0% 25,4% 6,8% 3,4% 48,3% 5,9% 12,7% 29,7% 10,2% 3,4% 38,1% NA 379 11,3% 12,9% 27,2% 15,0% 6,9% 26,6% 16,4% 15,6% 29,8% 15,3% 7,9% 15,0% No income 135 16,3% 9,6% 22,2% 5,9% 4,4% 41,5% 14,8% 18,5% 20,0% 11,1% 4,4% 31,1% Less than 250 BGN 354 18,9% 11,3% 16,9% 6,2% 1,1% 45,5% 20,9% 17,2% 20,6% 6,5% 1,4% 33,3% 251-500 BGN 370 14,9% 14,9% 25,4% 8,9% 2,2% 33,8% 18,4% 17,3% 29,7% 11,9% 2,7% 20,0% Personal monthly 501-750 BGN 96 15,6% 21,9% 24,0% 13,5% 6,3% 18,8% 21,9% 19,8% 26,0% 19,8% 4,2% 8,3% income 751-1000 52 19,2% 13,5% 30,8% 19,2% 7,7% 9,6% 13,5% 21,2% 30,8% 17,3% 11,5% 5,8% More than 1000 BGN 29 27,6% 6,9% 20,7% 24,1% 3,4% 17,2% 31,0% 6,9% 13,8% 31,0% 10,3% 6,9% Don't know 37 5,4% 2,7% 24,3% 18,9% 2,7% 45,9% 10,8% 2,7% 35,1% 16,2% 2,7% 32,4% NA 359 12,0% 12,5% 26,7% 15,3% 7,0% 26,5% 17,5% 13,6% 28,7% 17,5% 7,8% 14,8% I don't use financial services 584 14,7% 13,5% 20,2% 10,3% 2,7% 38,5% 16,3% 16,3% 23,5% 12,2% 3,6% 28,3% Financial services One 389 20,6% 10,0% 22,9% 11,3% 4,6% 30,6% 23,4% 14,4% 25,7% 13,9% 4,6% 18,0% usage Two 242 8,7% 14,0% 27,7% 9,5% 3,3% 36,8% 12,0% 19,8% 31,8% 12,0% 4,1% 20,2% Three and more 217 16,1% 14,7% 27,6% 12,9% 6,0% 22,6% 23,5% 15,2% 26,3% 15,7% 6,5% 12,9% Total 1432 15,5% 12,8% 23,3% 10,8% 3,8% 33,7% 18,6% 16,2% 25,9% 13,1% 4,4% 21,8% 106 How much do you trust…… Bulgarian Deposit Insurance Fund The lev, the national currency Does not Does not trust at all Little Average Much Very much Don't know trust at all Little Average Much Very much Don't know Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 17,5% 18,2% 20,4% 18,2% 3,3% 22,3% 17,8% 11,2% 29,7% 25,7% 9,7% 5,9% Regional center 484 14,9% 21,1% 24,4% 10,1% 2,7% 26,9% 9,5% 12,4% 35,3% 24,8% 7,2% 10,7% Type of residence Smaller town 276 19,9% 11,2% 23,2% 13,8% 1,8% 30,1% 10,9% 9,8% 30,1% 27,5% 8,3% 13,4% Village 403 15,6% 13,6% 17,6% 11,2% 3,0% 39,0% 10,9% 8,9% 29,8% 25,1% 7,4% 17,9% Male 682 18,3% 18,3% 21,1% 12,6% 2,5% 27,1% 13,5% 11,1% 31,8% 25,4% 8,2% 10,0% Gender Female 750 14,9% 14,9% 21,9% 12,7% 2,9% 32,7% 10,1% 10,3% 31,6% 25,7% 7,7% 14,5% 18-30 311 10,6% 17,4% 20,6% 13,8% 3,9% 33,8% 9,6% 11,9% 28,3% 26,4% 8,4% 15,4% 31-40 243 19,8% 18,1% 21,0% 14,0% 2,1% 25,1% 16,0% 11,5% 27,2% 26,7% 7,0% 11,5% Age 41-50 253 14,6% 18,6% 25,3% 14,2% 2,8% 24,5% 9,1% 10,7% 39,9% 24,1% 7,5% 8,7% 51-60 257 19,5% 16,3% 22,6% 11,3% 3,1% 27,2% 13,6% 8,6% 32,7% 28,0% 8,6% 8,6% 60+ 368 18,8% 13,6% 19,3% 10,6% 1,9% 35,9% 11,1% 10,6% 31,3% 23,4% 8,2% 15,5% Finished bachelor, master or higher 242 10,3% 19,4% 31,0% 22,3% 2,1% 14,9% 8,7% 13,6% 31,8% 34,3% 7,0% 4,5% degree Highest level of education Finished college 38 18,4% 10,5% 23,7% 26,3% 2,6% 18,4% 10,5% 18,4% 31,6% 31,6% 7,9% achieved Finished secondary school 683 19,0% 18,9% 23,6% 11,9% 3,4% 23,3% 12,2% 9,2% 34,1% 26,9% 9,8% 7,8% Finished elementary and lower 465 16,1% 12,0% 13,5% 7,7% 1,9% 48,6% 12,9% 10,5% 28,2% 18,7% 5,6% 24,1% Employee 575 15,8% 20,9% 24,2% 16,0% 3,1% 20,0% 10,3% 11,3% 32,2% 32,0% 8,2% 6,1% Other status of employed persons 72 16,7% 16,7% 12,5% 8,3% 2,8% 43,1% 13,9% 9,7% 33,3% 15,3% 8,3% 19,4% Business owner 81 18,5% 11,1% 25,9% 16,0% 3,7% 24,7% 13,6% 12,3% 33,3% 28,4% 8,6% 3,7% Self-employed person in 29 17,2% 10,3% 34,5% 13,8% 24,1% 17,2% 6,9% 44,8% 17,2% 3,4% 10,3% non-agricultural activities Self-employed person in agricultural 21 19,0% 14,3% 14,3% 14,3% 9,5% 28,6% 14,3% 14,3% 14,3% 14,3% 19,0% 23,8% activities Family helper 5 40,0% 20,0% 40,0% 40,0% 20,0% 40,0% Main occupational status in the present Registered as unemployed 69 24,6% 7,2% 20,3% 13,0% 1,4% 33,3% 18,8% 13,0% 30,4% 11,6% 7,2% 18,8% Unregistered unemployed 74 14,9% 9,5% 23,0% 6,8% 1,4% 44,6% 17,6% 5,4% 24,3% 17,6% 5,4% 29,7% Retired - due to age 322 18,6% 14,0% 19,9% 9,3% 1,9% 36,3% 9,3% 10,2% 32,9% 24,5% 7,5% 15,5% Retired - other causes 65 15,4% 13,8% 16,9% 4,6% 49,2% 7,7% 9,2% 38,5% 20,0% 6,2% 18,5% Pupil, student 85 4,7% 22,4% 18,8% 11,8% 3,5% 38,8% 9,4% 11,8% 29,4% 22,4% 10,6% 16,5% Housewife 22 18,2% 18,2% 9,1% 18,2% 9,1% 27,3% 22,7% 18,2% 18,2% 22,7% 13,6% 4,5% Person unable to work 2 50,0% 50,0% 50,0% 50,0% Another status of non working person 7 14,3% 14,3% 14,3% 57,1% 28,6% 14,3% 42,9% 14,3% Bulgarian 1202 16,9% 17,8% 23,1% 14,2% 3,1% 24,9% 10,9% 11,1% 33,5% 27,0% 8,9% 8,6% Turkish 146 13,7% 13,0% 13,7% 3,4% ,7% 55,5% 13,7% 8,9% 18,5% 19,2% 4,1% 35,6% Ethnicity Roma 62 16,1% 4,8% 14,5% 1,6% 62,9% 19,4% 11,3% 32,3% 6,5% 30,6% Other 21 19,0% 4,8% 4,8% 19,0% 52,4% 23,8% 19,0% 42,9% 4,8% 9,5% No income 3 33,3% 33,3% 33,3% 33,3% 33,3% 33,3% Less than 100 BGN 6 16,7% 50,0% 33,3% 16,7% 33,3% 33,3% 16,7% 101-150 BGN 22 22,7% 9,1% 9,1% 59,1% 13,6% 13,6% 18,2% 13,6% 40,9% 151-200 BGN 57 22,8% 10,5% 17,5% 7,0% 42,1% 22,8% 7,0% 31,6% 12,3% 5,3% 21,1% Total household income 201-300 BGN 132 22,7% 14,4% 15,2% 6,1% ,8% 40,9% 15,9% 15,2% 28,0% 21,2% 3,0% 16,7% 301-500 BGN 216 21,3% 13,4% 17,1% 8,3% 1,4% 38,4% 13,9% 8,8% 33,8% 24,1% 6,5% 13,0% More than 500 BGN 499 17,4% 19,0% 22,8% 16,2% 2,2% 22,2% 10,2% 9,8% 30,5% 32,7% 8,6% 8,2% Don't know 118 7,6% 8,5% 26,3% 9,3% 1,7% 46,6% 6,8% 10,2% 33,9% 13,6% 6,8% 28,8% NA 379 12,1% 19,8% 23,7% 15,3% 5,8% 23,2% 10,6% 12,1% 33,5% 25,1% 11,1% 7,7% No income 135 13,3% 14,8% 20,7% 11,9% 1,5% 37,8% 15,6% 10,4% 28,1% 20,7% 5,2% 20,0% Less than 250 BGN 354 20,1% 11,9% 16,4% 7,3% 1,7% 42,7% 12,4% 11,9% 32,5% 21,5% 4,8% 16,9% 251-500 BGN 370 18,6% 17,3% 22,7% 11,9% ,5% 28,9% 13,0% 8,6% 33,0% 25,7% 7,6% 12,2% 501-750 BGN 96 17,7% 29,2% 24,0% 14,6% 4,2% 10,4% 7,3% 14,6% 28,1% 31,3% 13,5% 5,2% Personal monthly income 751-1000 52 15,4% 21,2% 28,8% 19,2% 1,9% 13,5% 15,4% 5,8% 28,8% 38,5% 9,6% 1,9% More than 1000 BGN 29 17,2% 13,8% 37,9% 3,4% 27,6% 10,3% 3,4% 17,2% 51,7% 10,3% 6,9% Don't know 37 10,8% 2,7% 35,1% 16,2% 2,7% 32,4% 5,4% 5,4% 35,1% 24,3% 5,4% 24,3% NA 359 12,5% 19,8% 23,1% 15,0% 6,1% 23,4% 9,7% 12,5% 33,1% 25,9% 10,9% 7,8% I don't use financial services 584 14,9% 17,0% 19,3% 11,3% 2,6% 34,9% 9,8% 10,4% 30,7% 22,9% 8,6% 17,6% One 389 21,3% 11,6% 22,4% 15,7% 2,1% 27,0% 15,9% 8,2% 35,7% 25,2% 6,4% 8,5% Financial services usage Two 242 13,6% 19,8% 24,0% 9,1% 2,1% 31,4% 11,2% 12,8% 33,9% 23,6% 5,8% 12,8% Three and more 217 15,7% 20,7% 23,0% 14,7% 5,1% 20,7% 10,1% 13,4% 24,9% 35,5% 11,5% 4,6% Total 1432 16,6% 16,6% 21,5% 12,6% 2,7% 30,0% 11,7% 10,7% 31,7% 25,6% 8,0% 12,4% 107 Generally, the quality of financial products services offered by the financial institutions in Bulgaria is…… Commercial banks operating in Bulgaria Insurance companies Very bad Bad Fair Good Very good Don't know Very bad Bad Fair Good Very good Don't know Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 5,9% 7,1% 37,9% 29,4% 3,7% 16,0% 5,6% 18,2% 31,6% 15,6% 1,1% 27,9% Regional center 484 3,5% 9,3% 44,2% 20,9% 2,7% 19,4% 3,7% 19,2% 36,8% 14,7% 2,3% 23,3% Type of residence Smaller town 276 2,9% 10,9% 41,3% 19,9% 3,3% 21,7% 5,4% 12,3% 36,6% 14,5% 2,5% 28,6% Village 403 2,2% 7,9% 36,0% 22,1% 2,5% 29,3% 4,2% 10,7% 28,5% 14,9% 2,2% 39,5% Male 682 4,1% 10,3% 40,6% 21,3% 2,8% 21,0% 5,4% 17,0% 35,6% 13,5% 2,1% 26,4% Gender Female 750 2,9% 7,5% 39,7% 23,9% 3,1% 22,9% 3,7% 13,7% 31,5% 16,1% 2,1% 32,8% 18-30 311 1,6% 5,5% 37,3% 27,0% 4,5% 24,1% 1,3% 10,6% 31,2% 20,9% 2,9% 33,1% 31-40 243 6,6% 11,9% 39,9% 22,2% 3,3% 16,0% 5,8% 21,4% 35,0% 14,8% 2,5% 20,6% Age 41-50 253 2,4% 10,7% 42,7% 26,1% 4,0% 14,2% 4,3% 17,0% 40,7% 15,8% 2,4% 19,8% 51-60 257 3,1% 9,7% 45,9% 21,4% 2,3% 17,5% 6,2% 17,5% 34,2% 13,6% 1,9% 26,5% 60+ 368 4,1% 7,6% 37,0% 17,7% 1,1% 32,6% 5,4% 12,5% 28,8% 10,1% 1,1% 42,1% Finished bachelor, master or higher 242 4,1% 7,9% 43,8% 32,2% 3,7% 8,3% 4,1% 15,7% 41,7% 21,9% 2,1% 14,5% degree Highest level of Finished college 38 5,3% 7,9% 50,0% 21,1% 15,8% 5,3% 31,6% 34,2% 10,5% 18,4% education achieved Finished secondary school 683 3,7% 8,5% 46,0% 25,0% 2,8% 14,1% 4,7% 16,4% 38,7% 16,8% 2,2% 21,2% Finished elementary and lower 465 2,8% 9,7% 29,0% 14,4% 2,8% 41,3% 4,5% 12,0% 21,3% 8,8% 1,9% 51,4% Employee 575 3,1% 7,8% 44,3% 28,9% 3,0% 12,9% 3,7% 17,7% 38,4% 19,8% 2,4% 17,9% Other status of employed persons 72 5,6% 12,5% 37,5% 11,1% 5,6% 27,8% 6,9% 13,9% 37,5% 5,6% 2,8% 33,3% Business owner 81 3,7% 17,3% 42,0% 27,2% 6,2% 3,7% 3,7% 25,9% 38,3% 19,8% 2,5% 9,9% Self-employed person in non-agricultural 29 6,9% 17,2% 37,9% 27,6% 10,3% 10,3% 20,7% 41,4% 6,9% 3,4% 17,2% activities Self-employed person in agricultural 21 9,5% 38,1% 9,5% 14,3% 28,6% 14,3% 33,3% 14,3% 9,5% 28,6% activities Family helper 5 40,0% 20,0% 40,0% 40,0% 20,0% 40,0% Main occupational status in the present Registered as unemployed 69 1,4% 11,6% 37,7% 15,9% 1,4% 31,9% 4,3% 11,6% 30,4% 8,7% 1,4% 43,5% Unregistered unemployed 74 4,1% 6,8% 36,5% 16,2% 2,7% 33,8% 5,4% 13,5% 27,0% 9,5% 44,6% Retired - due to age 322 3,4% 7,8% 39,8% 15,8% ,9% 32,3% 5,3% 12,7% 29,5% 8,7% ,9% 42,9% Retired - other causes 65 3,1% 9,2% 27,7% 16,9% 43,1% 4,6% 15,4% 23,1% 10,8% 46,2% Pupil, student 85 1,2% 3,5% 35,3% 28,2% 5,9% 25,9% 3,5% 27,1% 22,4% 4,7% 42,4% Housewife 22 9,1% 40,9% 27,3% 9,1% 13,6% 13,6% 27,3% 27,3% 4,5% 27,3% Person unable to work 2 50,0% 50,0% 100,0% Another status of non working person 7 28,6% 14,3% 14,3% 14,3% 28,6% 28,6% 14,3% 14,3% 42,9% Bulgarian 1202 3,4% 9,5% 41,3% 24,1% 3,2% 18,4% 4,2% 16,6% 35,4% 15,9% 2,4% 25,5% Turkish 146 2,1% 6,2% 40,4% 16,4% 1,4% 33,6% 4,8% 11,6% 24,7% 11,6% ,7% 46,6% Ethnicity Roma 62 6,5% 3,2% 24,2% 6,5% 59,7% 8,1% 4,8% 22,6% 3,2% 61,3% Other 21 9,5% 4,8% 19,0% 23,8% 4,8% 38,1% 14,3% 14,3% 14,3% 57,1% No income 3 33,3% 33,3% 33,3% 33,3% 33,3% 33,3% Less than 100 BGN 6 33,3% 50,0% 16,7% 33,3% 33,3% 16,7% 16,7% 101-150 BGN 22 4,5% 9,1% 36,4% 13,6% 36,4% 13,6% 13,6% 18,2% 9,1% 45,5% 151-200 BGN 57 8,8% 7,0% 28,1% 7,0% 1,8% 47,4% 10,5% 5,3% 26,3% 3,5% 54,4% Total household 201-300 BGN 132 5,3% 6,8% 28,8% 19,7% 39,4% 6,8% 10,6% 22,7% 10,6% 49,2% income 301-500 BGN 216 4,2% 12,0% 36,6% 17,6% ,5% 29,2% 5,6% 16,7% 30,6% 8,8% ,9% 37,5% More than 500 BGN 499 2,6% 8,8% 44,3% 26,1% 2,4% 15,8% 3,6% 17,8% 37,7% 17,2% 1,2% 22,4% Don't know 118 ,8% 5,1% 41,5% 17,8% 3,4% 31,4% 11,0% 28,8% 8,5% 3,4% 48,3% NA 379 3,7% 8,7% 42,5% 26,4% 6,1% 12,7% 4,5% 15,6% 36,7% 20,6% 4,7% 17,9% No income 135 3,7% 9,6% 31,1% 21,5% 3,0% 31,1% 3,0% 11,9% 23,7% 14,8% 2,2% 44,4% Less than 250 BGN 354 4,0% 8,2% 33,3% 15,5% 2,0% 37,0% 5,1% 13,6% 27,4% 7,9% ,6% 45,5% 251-500 BGN 370 2,4% 8,4% 45,1% 23,0% 1,4% 19,7% 4,9% 15,9% 35,4% 15,7% 1,1% 27,0% Personal monthly 501-750 BGN 96 4,2% 11,5% 55,2% 21,9% 2,1% 5,2% 3,1% 22,9% 47,9% 11,5% 2,1% 12,5% income 751-1000 52 3,8% 9,6% 30,8% 42,3% 1,9% 11,5% 3,8% 17,3% 40,4% 19,2% 19,2% More than 1000 BGN 29 3,4% 20,7% 24,1% 34,5% 3,4% 13,8% 3,4% 24,1% 20,7% 27,6% 24,1% Don't know 37 2,7% 40,5% 18,9% 5,4% 32,4% 2,7% 32,4% 16,2% 5,4% 43,2% NA 359 4,2% 8,4% 43,7% 26,5% 5,6% 11,7% 5,3% 15,9% 37,3% 20,1% 4,7% 16,7% I don't use financial services 584 2,6% 7,9% 37,8% 18,8% 2,1% 30,8% 3,8% 11,5% 29,8% 14,0% 1,9% 39,0% Financial services One 389 5,4% 11,3% 41,1% 22,1% 2,8% 17,2% 5,7% 19,0% 34,4% 11,6% 1,5% 27,8% usage Two 242 3,7% 6,6% 44,6% 23,6% 2,5% 19,0% 4,5% 14,0% 38,4% 15,7% 1,2% 26,0% Three and more 217 2,3% 9,2% 39,6% 32,7% 6,0% 10,1% 4,6% 20,3% 35,9% 22,1% 4,6% 12,4% Total 1432 3,5% 8,8% 40,2% 22,6% 2,9% 22,0% 4,5% 15,3% 33,4% 14,9% 2,1% 29,7% 108 Generally, the quality of financial products services offered by the financial institutions in Bulgaria is…… Mutual Help Associations Securities companies Very bad Bad Fair Good Very good Don't know Very bad Bad Fair Good Very good Don't know Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 6,7% 7,1% 14,5% 16,7% 9,3% 45,7% 10,0% 13,8% 17,1% 2,6% 56,5% Regional center 484 3,9% 8,3% 21,1% 12,6% 5,0% 49,2% 6,0% 16,3% 20,9% 5,6% 1,0% 50,2% Type of residence Smaller town 276 2,5% 6,9% 25,4% 15,9% 2,5% 46,7% 3,3% 15,2% 24,3% 7,6% 1,1% 48,6% Village 403 3,2% 5,2% 19,9% 15,4% 1,2% 55,1% 6,7% 9,4% 19,6% 7,7% 1,2% 55,3% Male 682 5,3% 8,1% 22,7% 11,9% 3,8% 48,2% 7,6% 15,5% 21,1% 4,8% 1,3% 49,6% Gender Female 750 2,8% 5,9% 18,1% 17,5% 4,7% 51,1% 5,3% 12,0% 19,9% 7,1% ,5% 55,2% 18-30 311 2,6% 4,8% 18,3% 10,0% 4,5% 59,8% 4,2% 10,9% 21,9% 7,4% 1,9% 53,7% 31-40 243 5,3% 9,9% 23,5% 14,4% 2,5% 44,4% 7,4% 14,8% 25,5% 5,3% ,8% 46,1% Age 41-50 253 3,6% 9,9% 19,4% 17,0% 4,7% 45,5% 7,1% 17,4% 20,2% 7,1% ,4% 47,8% 51-60 257 4,7% 5,8% 23,3% 18,7% 6,6% 40,9% 5,8% 14,4% 21,0% 6,2% ,4% 52,1% 60+ 368 4,1% 5,4% 18,5% 14,9% 3,3% 53,8% 7,6% 12,2% 15,8% 4,3% ,8% 59,2% Finished bachelor, master or higher 242 3,7% 8,7% 24,0% 19,8% 5,4% 38,4% 8,3% 16,5% 25,6% 6,2% 1,2% 42,1% degree Highest level of education Finished college 38 5,3% 10,5% 23,7% 13,2% 5,3% 42,1% 7,9% 15,8% 21,1% 2,6% 52,6% achieved Finished secondary school 683 4,7% 7,0% 23,4% 17,0% 5,4% 42,5% 7,0% 15,8% 24,3% 7,2% ,6% 45,1% Finished elementary and lower 465 3,0% 5,4% 13,5% 9,0% 1,9% 67,1% 4,5% 8,6% 12,3% 4,3% 1,3% 69,0% Employee 575 3,7% 7,7% 22,3% 22,4% 5,9% 38,1% 7,1% 16,2% 23,7% 8,5% 1,0% 43,5% Other status of employed persons 72 2,8% 8,3% 23,6% 1,4% 2,8% 61,1% 5,6% 11,1% 19,4% 1,4% 62,5% Business owner 81 6,2% 12,3% 23,5% 11,1% 4,9% 42,0% 6,2% 17,3% 29,6% 7,4% 39,5% Self-employed person in 29 10,3% 17,2% 10,3% 62,1% 6,9% 17,2% 24,1% 51,7% non-agricultural activities Self-employed person in agricultural 21 9,5% 14,3% 23,8% 9,5% 4,8% 38,1% 14,3% 33,3% 4,8% 4,8% 42,9% activities Family helper 5 20,0% 20,0% 60,0% 40,0% 60,0% Main occupational status Registered as unemployed 69 4,3% 8,7% 23,2% 4,3% 2,9% 56,5% 4,3% 10,1% 15,9% 7,2% 62,3% in the present Unregistered unemployed 74 5,4% 6,8% 13,5% 2,7% 2,7% 68,9% 5,4% 10,8% 17,6% 2,7% 63,5% Retired - due to age 322 4,0% 5,0% 18,6% 14,9% 3,1% 54,3% 7,5% 11,8% 15,8% 3,1% ,6% 61,2% Retired - other causes 65 3,1% 1,5% 18,5% 7,7% 69,2% 4,6% 4,6% 15,4% 6,2% 69,2% Pupil, student 85 2,4% 1,2% 17,6% 7,1% 5,9% 65,9% 2,4% 9,4% 18,8% 7,1% 2,4% 60,0% Housewife 22 4,5% 9,1% 13,6% 4,5% 68,2% 4,5% 22,7% 9,1% 9,1% 4,5% 50,0% Person unable to work 2 50,0% 50,0% 50,0% 50,0% Another status of non working 7 14,3% 14,3% 14,3% 57,1% 28,6% 14,3% 14,3% 42,9% person Bulgarian 1202 3,8% 7,4% 21,2% 16,1% 4,9% 46,5% 6,4% 14,7% 21,9% 6,7% 1,1% 49,3% Turkish 146 2,1% 5,5% 18,5% 9,6% ,7% 63,7% 4,1% 10,3% 13,7% 4,1% 67,8% Ethnicity Roma 62 9,7% 3,2% 9,7% 77,4% 9,7% 4,8% 9,7% 75,8% Other 21 9,5% 14,3% 14,3% 4,8% 57,1% 14,3% 4,8% 14,3% 66,7% No income 3 100,0% 33,3% 66,7% Less than 100 BGN 6 33,3% 33,3% 33,3% 33,3% 33,3% 33,3% 101-150 BGN 22 4,5% 4,5% 18,2% 72,7% 4,5% 4,5% 22,7% 68,2% 151-200 BGN 57 7,0% 5,3% 14,0% 7,0% 1,8% 64,9% 3,5% 14,0% 7,0% 3,5% 71,9% Total household income 201-300 BGN 132 5,3% 3,0% 15,2% 15,2% 2,3% 59,1% 8,3% 8,3% 16,7% 3,0% ,8% 62,9% 301-500 BGN 216 3,7% 7,9% 14,4% 12,0% 2,3% 59,7% 6,5% 11,6% 17,6% 2,8% ,5% 61,1% More than 500 BGN 499 3,8% 8,6% 23,2% 17,6% 5,0% 41,7% 6,6% 16,4% 20,8% 7,8% ,4% 47,9% Don't know 118 ,8% 4,2% 21,2% 6,8% 2,5% 64,4% ,8% 5,9% 19,5% 5,9% ,8% 66,9% NA 379 4,5% 6,3% 22,4% 17,4% 6,3% 43,0% 7,9% 15,8% 24,8% 7,4% 2,1% 42,0% No income 135 5,9% 5,9% 11,9% 5,9% 2,2% 68,1% 5,9% 13,3% 14,1% 5,9% 1,5% 59,3% Less than 250 BGN 354 3,4% 4,8% 15,8% 9,6% 2,3% 64,1% 5,6% 10,2% 13,3% 3,4% ,6% 66,9% 251-500 BGN 370 3,0% 6,5% 23,2% 18,6% 4,3% 44,3% 6,8% 13,5% 21,4% 5,9% ,3% 52,2% 501-750 BGN 96 3,1% 13,5% 25,0% 22,9% 5,2% 30,2% 3,1% 27,1% 27,1% 4,2% 1,0% 37,5% Personal monthly income 751-1000 52 5,8% 15,4% 19,2% 17,3% 7,7% 34,6% 9,6% 17,3% 32,7% 7,7% 32,7% More than 1000 BGN 29 3,4% 13,8% 17,2% 10,3% 3,4% 51,7% 3,4% 13,8% 13,8% 10,3% 58,6% Don't know 37 2,7% 2,7% 24,3% 8,1% 2,7% 59,5% 2,7% 21,6% 10,8% 2,7% 62,2% NA 359 5,0% 6,7% 23,7% 17,8% 6,4% 40,4% 8,4% 14,5% 25,9% 8,1% 1,7% 41,5% I don't use financial services 584 3,4% 5,3% 20,5% 13,9% 2,2% 54,6% 5,1% 10,4% 21,1% 7,4% 1,0% 55,0% One 389 4,6% 8,5% 19,8% 14,1% 3,9% 49,1% 8,5% 15,4% 18,0% 5,1% ,5% 52,4% Financial services usage Two 242 4,1% 5,8% 21,1% 16,5% 5,8% 46,7% 6,2% 12,4% 24,0% 2,9% 1,2% 53,3% Three and more 217 4,1% 9,7% 19,8% 16,6% 8,8% 41,0% 6,5% 20,7% 19,4% 7,4% ,9% 45,2% Total 1432 4,0% 6,9% 20,3% 14,8% 4,3% 49,7% 6,4% 13,7% 20,5% 6,0% ,9% 52,5% 109 Generally, the quality of financial products services offered by the financial institutions in Bulgaria is…… Private pension funds Leasing companies Very bad Bad Fair Good Very good Don't know Very bad Bad Fair Good Very good Don't know Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 9,7% 17,5% 19,0% 3,7% 50,2% 9,3% 13,4% 23,0% 11,2% 1,1% 42,0% Regional center 484 8,7% 21,1% 20,0% 4,5% ,8% 44,8% 9,7% 20,7% 20,2% 8,1% 1,0% 40,3% Type of residence Smaller town 276 7,2% 18,5% 19,9% 6,2% 1,8% 46,4% 4,7% 15,6% 26,8% 7,6% 2,5% 42,8% Village 403 8,7% 11,4% 18,1% 6,9% 1,5% 53,3% 7,7% 9,9% 17,1% 7,9% 1,7% 55,6% Male 682 10,0% 19,1% 18,3% 5,6% 1,0% 46,0% 9,8% 17,6% 21,7% 7,2% 1,6% 42,1% Gender Female 750 7,3% 15,5% 20,1% 5,2% 1,1% 50,8% 6,5% 13,2% 20,7% 9,7% 1,5% 48,4% 18-30 311 4,8% 14,1% 17,4% 6,4% 1,9% 55,3% 4,8% 11,9% 22,8% 11,6% 2,6% 46,3% 31-40 243 8,2% 18,9% 25,9% 2,9% 1,2% 42,8% 9,1% 22,6% 24,7% 8,2% 1,6% 33,7% Age 41-50 253 9,1% 23,7% 19,8% 6,3% 1,2% 39,9% 9,9% 17,8% 23,3% 11,1% 2,0% 36,0% 51-60 257 11,3% 16,0% 20,6% 6,2% ,8% 45,1% 9,3% 14,8% 22,6% 7,4% 1,2% 44,7% 60+ 368 9,8% 14,9% 15,2% 4,9% ,3% 54,9% 8,2% 12,0% 14,9% 5,2% ,5% 59,2% Finished bachelor, master or higher 242 7,9% 25,6% 23,1% 5,4% ,8% 37,2% 9,5% 16,5% 29,8% 10,7% 2,9% 30,6% degree Highest level of Finished college 38 23,7% 15,8% 26,3% 2,6% 31,6% 18,4% 13,2% 23,7% 13,2% 31,6% education achieved Finished secondary school 683 9,4% 18,6% 23,1% 6,0% 1,2% 41,7% 8,2% 18,3% 24,9% 9,2% 1,6% 37,8% Finished elementary and lower 465 6,7% 10,5% 11,0% 4,7% 1,1% 66,0% 6,5% 10,3% 11,2% 5,8% ,6% 65,6% Employee 575 8,9% 19,5% 24,2% 7,7% 1,7% 38,1% 8,2% 17,6% 24,3% 12,7% 2,1% 35,1% Other status of employed persons 72 5,6% 18,1% 12,5% 5,6% 1,4% 56,9% 6,9% 13,9% 25,0% 5,6% 1,4% 47,2% Business owner 81 12,3% 25,9% 24,7% 6,2% 30,9% 9,9% 24,7% 28,4% 11,1% 2,5% 23,5% Self-employed person in 29 6,9% 24,1% 27,6% 41,4% 6,9% 24,1% 44,8% 3,4% 20,7% non-agricultural activities Self-employed person in agricultural 21 14,3% 23,8% 4,8% 4,8% 52,4% 9,5% 33,3% 4,8% 52,4% activities Family helper 5 40,0% 20,0% 40,0% 20,0% 20,0% 60,0% Main occupational status in the present Registered as unemployed 69 7,2% 7,2% 15,9% 4,3% 65,2% 7,2% 14,5% 14,5% 5,8% 58,0% Unregistered unemployed 74 8,1% 10,8% 17,6% 1,4% 62,2% 9,5% 10,8% 18,9% 6,8% 54,1% Retired - due to age 322 9,6% 15,8% 15,5% 3,4% ,3% 55,3% 8,4% 12,4% 14,3% 3,7% ,6% 60,6% Retired - other causes 65 9,2% 7,7% 9,2% 3,1% 70,8% 12,3% 6,2% 10,8% 3,1% 67,7% Pupil, student 85 2,4% 9,4% 16,5% 7,1% 2,4% 62,4% 3,5% 10,6% 21,2% 12,9% 1,2% 50,6% Housewife 22 27,3% 13,6% 4,5% 54,5% 18,2% 22,7% 4,5% 13,6% 40,9% Person unable to work 2 100,0% 50,0% 50,0% Another status of non working person 7 28,6% 14,3% 14,3% 42,9% 14,3% 28,6% 14,3% 42,9% Bulgarian 1202 8,7% 18,8% 20,6% 5,7% 1,2% 44,9% 8,0% 16,9% 22,6% 9,2% 1,8% 41,4% Turkish 146 6,8% 10,3% 13,0% 4,8% 65,1% 5,5% 9,6% 13,7% 5,5% 65,8% Ethnicity Roma 62 11,3% 6,5% 8,1% 1,6% 72,6% 12,9% 3,2% 9,7% 1,6% 72,6% Other 21 9,5% 4,8% 19,0% 66,7% 19,0% 19,0% 9,5% 52,4% No income 3 33,3% 66,7% 33,3% 66,7% Less than 100 BGN 6 16,7% 33,3% 50,0% 33,3% 33,3% 33,3% 101-150 BGN 22 13,6% 13,6% 22,7% 50,0% 18,2% 4,5% 13,6% 4,5% 59,1% 151-200 BGN 57 14,0% 10,5% 5,3% 3,5% 66,7% 10,5% 8,8% 7,0% 1,8% 71,9% Total household 201-300 BGN 132 7,6% 11,4% 18,2% 3,8% 59,1% 6,1% 12,1% 15,9% 5,3% 60,6% income 301-500 BGN 216 8,3% 17,1% 16,7% 4,6% 53,2% 8,3% 14,4% 18,5% 3,7% ,9% 54,2% More than 500 BGN 499 9,2% 18,4% 19,2% 6,4% 1,2% 45,5% 8,2% 18,0% 23,4% 10,0% 1,2% 39,1% Don't know 118 1,7% 7,6% 24,6% 3,4% ,8% 61,9% 3,4% 8,5% 17,8% 10,2% ,8% 59,3% NA 379 9,5% 21,9% 21,1% 6,3% 2,1% 39,1% 9,2% 16,9% 25,1% 11,1% 3,4% 34,3% No income 135 7,4% 12,6% 14,1% 3,7% 1,5% 60,7% 8,9% 13,3% 16,3% 8,9% ,7% 51,9% Less than 250 BGN 354 7,6% 12,7% 12,7% 4,5% ,3% 62,1% 7,3% 11,6% 13,3% 5,6% ,6% 61,6% 251-500 BGN 370 8,6% 15,4% 21,6% 5,7% ,5% 48,1% 6,5% 14,1% 24,1% 7,8% 1,1% 46,5% Personal monthly 501-750 BGN 96 9,4% 35,4% 22,9% 3,1% 2,1% 27,1% 10,4% 35,4% 26,0% 5,2% 2,1% 20,8% income 751-1000 52 9,6% 21,2% 30,8% 3,8% 34,6% 7,7% 28,8% 30,8% 9,6% 23,1% More than 1000 BGN 29 3,4% 20,7% 13,8% 10,3% 51,7% 6,9% 17,2% 17,2% 6,9% 51,7% Don't know 37 2,7% 21,6% 10,8% 2,7% 62,2% 2,7% 8,1% 18,9% 10,8% 2,7% 56,8% NA 359 10,9% 20,9% 22,8% 6,4% 1,9% 37,0% 10,3% 14,2% 25,6% 12,5% 3,3% 34,0% I don't use financial services 584 6,5% 12,8% 19,5% 7,4% 1,4% 52,4% 6,8% 12,5% 18,0% 8,7% 1,7% 52,2% Financial services One 389 12,6% 18,8% 16,2% 3,9% 1,5% 47,0% 10,0% 16,2% 20,8% 8,2% 1,5% 43,2% usage Two 242 7,9% 18,2% 20,2% 3,3% 50,4% 7,4% 17,4% 24,8% 7,0% ,8% 42,6% Three and more 217 7,8% 24,9% 23,0% 5,1% ,5% 38,7% 8,8% 18,9% 26,3% 10,1% 1,8% 34,1% Total 1432 8,6% 17,2% 19,3% 5,4% 1,0% 48,5% 8,1% 15,3% 21,2% 8,5% 1,5% 45,4% 110 Generally, the quality of financial products services offered by the financial institutions in Bulgaria is…… Consumer credit companies (e.g. Jet Credit, T.B.I, etc.) Very bad Bad Fair Good Very good Don't know Base: Row % Row % Row % Row % Row % Row % Sofia 269 8,2% 13,0% 24,9% 12,3% 1,1% 40,5% Regional center 484 13,2% 20,9% 22,5% 8,7% 1,4% 33,3% Type of residence Smaller town 276 8,0% 19,6% 22,5% 8,3% 1,4% 40,2% Village 403 10,2% 8,4% 18,9% 7,7% 1,0% 53,8% Male 682 12,6% 17,2% 21,1% 8,5% 1,3% 39,3% Gender Female 750 8,4% 14,3% 22,7% 9,5% 1,2% 44,0% 18-30 311 8,0% 14,5% 23,5% 9,3% 2,9% 41,8% 31-40 243 10,3% 20,6% 26,3% 10,3% ,8% 31,7% Age 41-50 253 11,5% 19,0% 24,9% 12,3% 1,2% 31,2% 51-60 257 12,1% 16,0% 23,7% 8,2% ,8% 39,3% 60+ 368 10,6% 10,9% 14,4% 6,3% ,5% 57,3% Finished bachelor, master or higher 242 14,5% 19,0% 26,0% 9,5% 1,7% 29,3% degree Highest level of Finished college 38 15,8% 18,4% 21,1% 13,2% 2,6% 28,9% education achieved Finished secondary school 683 10,2% 18,9% 26,5% 10,5% 1,0% 32,8% Finished elementary and lower 465 8,2% 9,0% 13,1% 6,0% 1,3% 62,4% Employee 575 10,1% 19,1% 26,6% 12,5% 1,6% 30,1% Other status of employed persons 72 12,5% 9,7% 26,4% 6,9% 1,4% 43,1% Business owner 81 12,3% 28,4% 22,2% 14,8% 1,2% 21,0% Self-employed person in non-agricultural 29 10,3% 27,6% 34,5% 6,9% 20,7% activities Self-employed person in agricultural 21 14,3% 4,8% 19,0% 4,8% 57,1% activities Family helper 5 20,0% 20,0% 60,0% Main occupational status in the present Registered as unemployed 69 7,2% 13,0% 17,4% 10,1% 52,2% Unregistered unemployed 74 12,2% 10,8% 23,0% 4,1% 1,4% 48,6% Retired - due to age 322 10,6% 10,9% 15,8% 4,3% ,3% 58,1% Retired - other causes 65 12,3% 6,2% 13,8% 4,6% 63,1% Pupil, student 85 5,9% 12,9% 16,5% 11,8% 3,5% 49,4% Housewife 22 4,5% 22,7% 22,7% 4,5% 4,5% 40,9% Person unable to work 2 50,0% 50,0% Another status of non working person 7 28,6% 14,3% 14,3% 42,9% Bulgarian 1202 9,5% 17,1% 23,0% 10,2% 1,5% 38,7% Turkish 146 13,7% 9,6% 16,4% 2,7% 57,5% Ethnicity Roma 62 16,1% 8,1% 16,1% 1,6% 58,1% Other 21 23,8% 14,3% 4,8% 57,1% No income 3 33,3% 66,7% Less than 100 BGN 6 16,7% 33,3% 50,0% 101-150 BGN 22 22,7% 13,6% 9,1% 54,5% 151-200 BGN 57 15,8% 3,5% 7,0% 1,8% 71,9% Total household income 201-300 BGN 132 8,3% 10,6% 21,2% 4,5% 55,3% 301-500 BGN 216 10,2% 16,7% 13,4% 8,3% ,9% 50,5% More than 500 BGN 499 11,0% 17,6% 25,1% 10,4% 1,0% 34,9% Don't know 118 5,1% 11,9% 18,6% 6,8% 2,5% 55,1% NA 379 10,8% 17,4% 26,9% 11,3% 2,1% 31,4% No income 135 8,9% 11,9% 16,3% 8,9% 1,5% 52,6% Less than 250 BGN 354 10,5% 10,2% 14,7% 5,4% ,8% 58,5% 251-500 BGN 370 10,0% 17,0% 21,9% 10,8% ,5% 39,7% Personal monthly 501-750 BGN 96 11,5% 32,3% 32,3% 4,2% 2,1% 17,7% income 751-1000 52 5,8% 19,2% 34,6% 13,5% 26,9% More than 1000 BGN 29 10,3% 24,1% 20,7% 3,4% 41,4% Don't know 37 5,4% 10,8% 21,6% 8,1% 2,7% 51,4% NA 359 12,3% 15,9% 26,7% 12,0% 2,2% 30,9% I don't use financial services 584 7,7% 10,4% 20,9% 8,0% 1,4% 51,5% One 389 13,4% 18,8% 19,8% 8,5% 1,0% 38,6% Financial services usage Two 242 13,2% 16,9% 28,5% 7,0% ,8% 33,5% Three and more 217 9,2% 22,6% 21,2% 14,7% 1,8% 30,4% Total 1432 10,4% 15,6% 21,9% 9,0% 1,3% 41,8% 111 What are your expectations to the development of…… Banking sector in Bulgaria Private Pension Funds It will remain It will remain stable Destabilization stable and Destabilization and develop in a and negative develop in a and negative NA positive direction No change development NA positive direction No change development Base: Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 4,1% 34,9% 55,8% 5,2% 7,8% 14,9% 63,2% 14,1% Regional center 484 4,5% 26,7% 57,4% 11,4% 10,1% 10,1% 56,6% 23,1% Type of residence Smaller town 276 5,8% 28,6% 52,2% 13,4% 12,0% 16,3% 48,9% 22,8% Village 403 7,7% 27,5% 53,1% 11,7% 12,4% 16,1% 48,6% 22,8% Male 682 4,4% 29,2% 55,3% 11,1% 10,4% 13,3% 54,5% 21,7% Gender Female 750 6,7% 28,5% 54,5% 10,3% 10,9% 14,4% 53,7% 20,9% 18-30 311 5,8% 36,0% 51,1% 7,1% 11,3% 18,3% 53,1% 17,4% 31-40 243 4,1% 30,0% 55,6% 10,3% 9,1% 15,6% 56,0% 19,3% Age 41-50 253 5,1% 27,7% 56,1% 11,1% 10,7% 10,7% 56,9% 21,7% 51-60 257 5,4% 27,2% 55,3% 12,1% 8,6% 13,6% 52,5% 25,3% 60+ 368 6,8% 23,9% 56,5% 12,8% 12,8% 11,4% 53,0% 22,8% Finished bachelor, master or higher 242 2,5% 36,8% 53,7% 7,0% 6,6% 14,5% 62,4% 16,5% degree Highest level of Finished college 38 26,3% 65,8% 7,9% 5,3% 10,5% 57,9% 26,3% education achieved Finished secondary school 683 3,1% 32,2% 55,1% 9,7% 7,6% 15,4% 54,6% 22,4% Finished elementary and lower 465 11,4% 19,8% 54,6% 14,2% 17,8% 11,4% 49,0% 21,7% Employee 575 2,8% 33,7% 56,3% 7,1% 7,7% 17,6% 56,9% 17,9% Other status of employed persons 72 12,5% 20,8% 52,8% 13,9% 23,6% 11,1% 48,6% 16,7% Business owner 81 2,5% 30,9% 55,6% 11,1% 6,2% 9,9% 54,3% 29,6% Self-employed person in 29 6,9% 24,1% 55,2% 13,8% 6,9% 65,5% 27,6% non-agricultural activities Self-employed person in agricultural 21 4,8% 33,3% 52,4% 9,5% 4,8% 19,0% 52,4% 23,8% activities Family helper 5 20,0% 60,0% 20,0% 20,0% 60,0% 20,0% Main occupational status in the present Registered as unemployed 69 7,2% 21,7% 49,3% 21,7% 17,4% 10,1% 42,0% 30,4% Unregistered unemployed 74 10,8% 21,6% 54,1% 13,5% 12,2% 8,1% 58,1% 21,6% Retired - due to age 322 7,5% 23,0% 56,2% 13,4% 13,0% 11,8% 52,8% 22,4% Retired - other causes 65 15,4% 20,0% 49,2% 15,4% 18,5% 6,2% 44,6% 30,8% Pupil, student 85 2,4% 48,2% 44,7% 4,7% 7,1% 25,9% 52,9% 14,1% Housewife 22 18,2% 72,7% 9,1% 4,5% 68,2% 27,3% Person unable to work 2 50,0% 50,0% 100,0% Another status of non working person 7 14,3% 57,1% 28,6% 14,3% 28,6% 57,1% Bulgarian 1202 4,1% 30,1% 56,0% 9,8% 8,9% 14,7% 55,0% 21,4% Turkish 146 12,3% 27,4% 49,3% 11,0% 19,2% 13,7% 52,7% 14,4% Ethnicity Roma 62 17,7% 11,3% 48,4% 22,6% 24,2% 3,2% 40,3% 32,3% Other 21 9,5% 19,0% 47,6% 23,8% 14,3% 57,1% 28,6% No income 3 66,7% 33,3% 66,7% 33,3% Less than 100 BGN 6 33,3% 50,0% 16,7% 16,7% 50,0% 33,3% 101-150 BGN 22 18,2% 40,9% 40,9% 18,2% 36,4% 45,5% 151-200 BGN 57 10,5% 15,8% 49,1% 24,6% 12,3% 5,3% 54,4% 28,1% Total household 201-300 BGN 132 10,6% 22,7% 52,3% 14,4% 14,4% 11,4% 54,5% 19,7% income 301-500 BGN 216 5,1% 21,8% 56,5% 16,7% 11,1% 10,6% 47,2% 31,0% More than 500 BGN 499 3,2% 32,1% 56,5% 8,2% 7,8% 14,0% 56,7% 21,4% Don't know 118 11,9% 42,4% 41,5% 4,2% 21,2% 21,2% 49,2% 8,5% NA 379 4,0% 29,8% 59,1% 7,1% 9,2% 16,4% 57,0% 17,4% No income 135 5,2% 31,1% 51,9% 11,9% 8,1% 19,3% 55,6% 17,0% Less than 250 BGN 354 11,0% 20,1% 54,2% 14,7% 17,5% 11,9% 47,5% 23,2% 251-500 BGN 370 3,8% 29,5% 55,7% 11,1% 8,1% 11,1% 56,8% 24,1% Personal monthly 501-750 BGN 96 32,3% 60,4% 7,3% 4,2% 14,6% 51,0% 30,2% income 751-1000 52 3,8% 51,9% 36,5% 7,7% 3,8% 17,3% 55,8% 23,1% More than 1000 BGN 29 3,4% 37,9% 58,6% 13,8% 13,8% 62,1% 10,3% Don't know 37 8,1% 29,7% 59,5% 2,7% 13,5% 13,5% 64,9% 8,1% NA 359 3,9% 30,9% 56,3% 8,9% 9,7% 16,2% 56,3% 17,8% I don't use financial services 584 7,2% 24,8% 55,8% 12,2% 11,5% 14,6% 53,6% 20,4% Financial services One 389 4,4% 28,8% 57,6% 9,3% 8,0% 12,6% 59,1% 20,3% usage Two 242 6,2% 27,7% 55,4% 10,7% 13,2% 11,2% 49,6% 26,0% Three and more 217 2,8% 41,0% 47,0% 9,2% 10,6% 17,5% 51,6% 20,3% Total 1432 5,6% 28,8% 54,9% 10,7% 10,7% 13,9% 54,1% 21,3% 112 What are your expectations to the development of……? Insurance companies The capital market It will remain stable Destabilization It will remain stable Destabilization and develop in a and negative and develop in a and negative NA positive direction No change development NA positive direction No change development Base: Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 8,2% 18,6% 64,7% 8,6% 8,6% 22,3% 53,9% 15,2% Regional center 484 7,4% 15,9% 62,8% 13,8% 11,6% 12,8% 53,5% 22,1% Type of residence Smaller town 276 10,1% 22,5% 51,4% 15,9% 15,6% 19,2% 44,6% 20,7% Village 403 9,9% 19,4% 55,3% 15,4% 13,6% 15,6% 49,1% 21,6% Male 682 7,8% 17,7% 60,4% 14,1% 11,3% 16,7% 51,9% 20,1% Gender Female 750 9,7% 19,5% 57,5% 13,3% 13,3% 16,5% 49,5% 20,7% 18-30 311 10,3% 24,8% 56,6% 8,4% 12,9% 22,2% 50,8% 14,1% 31-40 243 5,8% 20,6% 61,7% 11,9% 8,6% 20,2% 53,5% 17,7% Age 41-50 253 7,5% 15,8% 63,2% 13,4% 11,9% 16,6% 49,8% 21,7% 51-60 257 7,8% 19,5% 56,8% 16,0% 11,7% 16,0% 47,9% 24,5% 60+ 368 11,1% 13,6% 57,3% 17,9% 15,2% 10,1% 51,1% 23,6% Finished bachelor, master or higher 242 4,5% 23,1% 61,6% 10,7% 7,4% 25,6% 49,2% 17,8% degree Highest level of Finished college 38 2,6% 18,4% 60,5% 18,4% 7,9% 13,2% 60,5% 18,4% education achieved Finished secondary school 683 6,3% 20,4% 60,3% 13,0% 9,5% 16,7% 53,7% 20,1% Finished elementary and lower 465 15,3% 13,8% 55,3% 15,7% 19,6% 12,0% 46,0% 22,4% Employee 575 5,0% 22,6% 62,3% 10,1% 8,7% 20,9% 52,7% 17,7% Other status of employed persons 72 19,4% 13,9% 58,3% 8,3% 20,8% 18,1% 44,4% 16,7% Business owner 81 3,7% 21,0% 56,8% 18,5% 4,9% 24,7% 51,9% 18,5% Self-employed person in 29 6,9% 17,2% 69,0% 6,9% 10,3% 17,2% 51,7% 20,7% non-agricultural activities Self-employed person in agricultural 21 9,5% 19,0% 52,4% 19,0% 4,8% 19,0% 52,4% 23,8% activities Family helper 5 20,0% 60,0% 20,0% 20,0% 40,0% 40,0% Main occupational status in the present Registered as unemployed 69 17,4% 10,1% 55,1% 17,4% 20,3% 8,7% 46,4% 24,6% Unregistered unemployed 74 12,2% 16,2% 52,7% 18,9% 16,2% 13,5% 51,4% 18,9% Retired - due to age 322 11,8% 12,7% 56,2% 19,3% 16,8% 8,7% 49,4% 25,2% Retired - other causes 65 15,4% 12,3% 58,5% 13,8% 20,0% 9,2% 47,7% 23,1% Pupil, student 85 4,7% 31,8% 56,5% 7,1% 9,4% 27,1% 50,6% 12,9% Housewife 22 22,7% 59,1% 18,2% 4,5% 59,1% 36,4% Person unable to work 2 100,0% 50,0% 50,0% Another status of non working person 7 14,3% 14,3% 28,6% 42,9% 14,3% 14,3% 14,3% 57,1% Bulgarian 1202 7,2% 19,9% 60,0% 13,0% 11,1% 17,8% 50,9% 20,2% Turkish 146 15,1% 15,1% 54,8% 15,1% 15,8% 13,0% 54,1% 17,1% Ethnicity Roma 62 24,2% 6,5% 48,4% 21,0% 29,0% 6,5% 37,1% 27,4% Other 21 14,3% 9,5% 52,4% 23,8% 14,3% 4,8% 47,6% 33,3% No income 3 66,7% 33,3% 33,3% 33,3% 33,3% Less than 100 BGN 6 16,7% 50,0% 33,3% 16,7% 66,7% 16,7% 101-150 BGN 22 22,7% 36,4% 40,9% 22,7% 4,5% 31,8% 40,9% 151-200 BGN 57 10,5% 12,3% 49,1% 28,1% 15,8% 5,3% 49,1% 29,8% Total household income 201-300 BGN 132 12,9% 12,1% 58,3% 16,7% 15,2% 10,6% 51,5% 22,7% 301-500 BGN 216 10,6% 16,7% 53,2% 19,4% 16,2% 9,7% 45,8% 28,2% More than 500 BGN 499 5,4% 19,4% 62,3% 12,8% 8,2% 18,4% 54,5% 18,8% Don't know 118 18,6% 23,7% 55,9% 1,7% 22,0% 24,6% 49,2% 4,2% NA 379 6,9% 21,6% 61,5% 10,0% 10,6% 20,3% 49,6% 19,5% No income 135 7,4% 24,4% 54,8% 13,3% 10,4% 20,0% 52,6% 17,0% Less than 250 BGN 354 15,8% 12,7% 53,7% 17,8% 20,6% 8,8% 46,0% 24,6% 251-500 BGN 370 5,9% 17,3% 61,6% 15,1% 9,2% 13,5% 55,1% 22,2% Personal monthly 501-750 BGN 96 1,0% 24,0% 61,5% 13,5% 5,2% 18,8% 55,2% 20,8% income 751-1000 52 5,8% 25,0% 59,6% 9,6% 3,8% 36,5% 42,3% 17,3% More than 1000 BGN 29 10,3% 13,8% 69,0% 6,9% 13,8% 31,0% 48,3% 6,9% Don't know 37 13,5% 16,2% 64,9% 5,4% 13,5% 21,6% 59,5% 5,4% NA 359 7,2% 22,0% 60,4% 10,3% 11,1% 21,2% 49,0% 18,7% I don't use financial services 584 10,4% 16,4% 57,9% 15,2% 13,5% 14,7% 49,7% 22,1% Financial services One 389 7,2% 18,0% 60,9% 13,9% 9,5% 15,9% 56,6% 18,0% usage Two 242 10,7% 18,2% 58,3% 12,8% 16,5% 14,5% 46,3% 22,7% Three and more 217 5,1% 26,3% 58,5% 10,1% 9,7% 25,3% 47,5% 17,5% Total 1432 8,8% 18,6% 58,9% 13,7% 12,4% 16,6% 50,6% 20,4% 113 What are your expectations to the development of……? Consumer credit companies (e.g. Jet Credit, T.B.I, etc.) It will remain stable Destabilization and develop in a and negative NA positive direction No change development Base: Row % Row % Row % Row % Sofia 269 5,9% 24,9% 58,4% 10,8% Regional center 484 8,9% 13,0% 56,0% 22,1% Type of residence Smaller town 276 11,6% 17,0% 49,3% 22,1% Village 403 12,7% 17,6% 48,1% 21,6% Male 682 9,5% 15,7% 54,8% 19,9% Gender Female 750 10,3% 18,8% 51,2% 19,7% 18-30 311 10,9% 21,2% 53,7% 14,1% 31-40 243 6,6% 21,8% 56,0% 15,6% Age 41-50 253 8,7% 18,2% 53,8% 19,4% 51-60 257 9,7% 15,2% 49,0% 26,1% 60+ 368 12,2% 12,0% 52,4% 23,4% Finished bachelor, master or higher 242 4,1% 20,2% 57,4% 18,2% degree Highest level of education Finished college 38 5,3% 26,3% 52,6% 15,8% achieved Finished secondary school 683 7,2% 18,9% 54,0% 19,9% Finished elementary and lower 465 17,4% 12,7% 49,0% 20,9% Employee 575 6,1% 21,4% 55,1% 17,4% Other status of employed persons 72 18,1% 18,1% 50,0% 13,9% Business owner 81 6,2% 14,8% 58,0% 21,0% Self-employed person in 29 6,9% 6,9% 72,4% 13,8% non-agricultural activities Self-employed person in agricultural 21 4,8% 19,0% 47,6% 28,6% activities Family helper 5 20,0% 60,0% 20,0% Main occupational status in the present Registered as unemployed 69 17,4% 17,4% 46,4% 18,8% Unregistered unemployed 74 12,2% 18,9% 48,6% 20,3% Retired - due to age 322 13,4% 9,9% 52,5% 24,2% Retired - other causes 65 18,5% 7,7% 44,6% 29,2% Pupil, student 85 8,2% 30,6% 51,8% 9,4% Housewife 22 22,7% 45,5% 31,8% Person unable to work 2 100,0% Another status of non working person 7 14,3% 14,3% 71,4% Bulgarian 1202 8,3% 18,3% 54,1% 19,3% Turkish 146 17,1% 14,4% 49,3% 19,2% Ethnicity Roma 62 22,6% 9,7% 38,7% 29,0% Other 21 14,3% 4,8% 57,1% 23,8% No income 3 66,7% 33,3% Less than 100 BGN 6 16,7% 50,0% 33,3% 101-150 BGN 22 22,7% 4,5% 40,9% 31,8% 151-200 BGN 57 14,0% 7,0% 49,1% 29,8% Total household income 201-300 BGN 132 15,2% 10,6% 50,8% 23,5% 301-500 BGN 216 9,7% 15,7% 47,2% 27,3% More than 500 BGN 499 6,6% 18,2% 57,7% 17,4% Don't know 118 18,6% 21,2% 53,4% 6,8% NA 379 8,7% 20,6% 51,7% 19,0% No income 135 8,9% 23,7% 52,6% 14,8% Less than 250 BGN 354 16,4% 13,0% 46,0% 24,6% 251-500 BGN 370 7,8% 16,2% 55,7% 20,3% 501-750 BGN 96 2,1% 15,6% 58,3% 24,0% Personal monthly income 751-1000 52 3,8% 23,1% 61,5% 11,5% More than 1000 BGN 29 6,9% 10,3% 72,4% 10,3% Don't know 37 13,5% 10,8% 67,6% 8,1% NA 359 8,9% 21,2% 51,3% 18,7% I don't use financial services 584 11,0% 17,1% 52,1% 19,9% One 389 8,0% 15,9% 54,8% 21,3% Financial services usage Two 242 11,6% 14,0% 52,1% 22,3% Three and more 217 8,8% 24,0% 53,0% 14,3% Total 1432 9,9% 17,3% 52,9% 19,8% 114 Who would you complain to, if you have a problem with your bank? To the To the To a Bank To To the To the I will not Consumer representative of To the Financial Deposits Bulgarian To some Association of Payments I will To the bank complain to To the Protection the system of Supervision Guarantee National other state Banks in Conciliation change the management anyone media Commission justice Commission Fund Bank institution Bulgaria Other Committee bank Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 72,1% 13,0% 21,9% 11,9% 14,1% 9,7% 8,9% 6,3% ,7% 1,5% ,4% ,4% Regional center 484 65,1% 12,4% 20,2% 16,1% 12,8% 7,2% 5,4% 4,8% 2,9% 2,9% ,2% Type of residence Smaller town 276 56,9% 18,5% 16,7% 14,1% 12,3% 2,2% 2,9% 2,9% 4,0% 1,8% 1,1% ,4% Village 403 55,6% 26,6% 11,9% 8,7% 10,4% 4,5% 2,0% 2,2% 2,0% ,5% ,5% Male 682 62,3% 15,5% 17,6% 10,9% 12,8% 5,6% 5,0% 4,8% 2,8% 1,5% ,1% Gender Female 750 62,0% 19,6% 17,5% 14,7% 11,9% 6,3% 4,3% 3,2% 2,1% 2,0% ,5% ,4% ,1% 18-30 311 65,9% 13,5% 19,6% 12,2% 15,1% 7,4% 4,2% 4,2% 2,6% 2,3% 31-40 243 66,3% 11,9% 22,6% 15,6% 11,1% 7,4% 5,8% 2,9% 2,5% 2,5% ,8% ,4% Age 41-50 253 66,0% 10,7% 19,4% 11,9% 13,4% 8,3% 5,9% 8,7% 2,8% 1,6% ,4% ,4% 51-60 257 57,6% 17,9% 18,3% 16,3% 12,1% 5,4% 3,9% 3,1% 2,7% 2,3% 1,2% ,4% 60+ 368 56,8% 29,6% 10,6% 9,8% 10,1% 2,4% 3,8% 1,9% 1,9% ,5% Finished bachelor, master or higher 242 72,3% 7,9% 26,4% 18,6% 12,8% 10,3% 7,4% 8,3% 3,3% 2,9% ,4% ,4% ,4% degree Highest level of Finished college 38 81,6% 7,9% 21,1% 21,1% 10,5% 7,9% 7,9% 5,3% 2,6% education achieved Finished secondary school 683 66,9% 12,7% 18,6% 13,6% 13,6% 6,3% 5,3% 2,9% 1,9% 2,2% ,3% ,1% Finished elementary and lower 465 48,2% 31,0% 11,0% 8,0% 10,1% 2,8% 1,7% 3,2% 3,0% ,4% ,2% ,4% Employee 575 69,0% 9,6% 20,5% 16,7% 14,1% 7,7% 5,0% 4,5% 2,6% 3,3% ,2% ,2% ,2% Other status of employed persons 72 63,9% 16,7% 13,9% 11,1% 8,3% 2,8% 4,2% 5,6% Business owner 81 66,7% 12,3% 16,0% 16,0% 11,1% 9,9% 9,9% 4,9% 1,2% 3,7% 2,5% 1,2% Self-employed person in 29 72,4% 13,8% 34,5% 20,7% 6,9% 13,8% 13,8% 13,8% non-agricultural activities Self-employed person in agricultural 21 61,9% 9,5% 9,5% 14,3% 19,0% 4,8% 14,3% 4,8% activities Family helper 5 20,0% 40,0% 20,0% 20,0% 20,0% 20,0% Main occupational status in the present Registered as unemployed 69 59,4% 20,3% 15,9% 8,7% 8,7% 7,2% 2,9% 1,4% 2,9% 1,4% Unregistered unemployed 74 51,4% 24,3% 17,6% 5,4% 17,6% 6,8% 2,7% 1,4% 1,4% 1,4% Retired - due to age 322 55,9% 29,5% 11,2% 8,1% 9,0% 2,2% 3,1% 1,6% 2,2% ,3% Retired - other causes 65 43,1% 33,8% 10,8% 12,3% 10,8% 3,1% 4,6% 3,1% 1,5% Pupil, student 85 63,5% 12,9% 31,8% 10,6% 18,8% 5,9% 5,9% 5,9% 2,4% 2,4% Housewife 22 50,0% 22,7% 9,1% 13,6% 9,1% 13,6% 4,5% 9,1% 4,5% Person unable to work 2 50,0% 50,0% Another status of non working person 7 42,9% 28,6% 14,3% 14,3% 14,3% Bulgarian 1202 65,1% 15,9% 17,2% 14,3% 12,4% 6,7% 5,2% 3,8% 2,4% 2,0% ,2% ,2% ,2% Turkish 146 45,2% 25,3% 25,3% 6,8% 15,8% 2,1% 2,7% 4,1% 2,7% ,7% Ethnicity Roma 62 45,2% 29,0% 8,1% 1,6% 4,8% 6,5% 3,2% 1,6% Other 21 61,9% 33,3% 9,5% 4,8% 4,8% 4,8% No income 3 66,7% 33,3% 66,7% 33,3% Less than 100 BGN 6 33,3% 50,0% 16,7% 33,3% 101-150 BGN 22 40,9% 50,0% 4,5% 4,5% 4,5% 4,5% 151-200 BGN 57 40,4% 43,9% 3,5% 7,0% 1,8% 1,8% 1,8% Total household 201-300 BGN 132 40,9% 41,7% 10,6% 11,4% 6,1% ,8% 2,3% 3,8% 3,0% ,8% ,8% income 301-500 BGN 216 58,8% 18,5% 13,9% 6,9% 8,8% 5,6% 3,7% 4,2% 4,2% 1,9% ,5% More than 500 BGN 499 71,3% 10,0% 22,2% 17,2% 13,4% 7,8% 4,8% 4,8% 1,4% 2,0% ,2% ,4% Don't know 118 55,9% 18,6% 27,1% 8,5% 11,9% 3,4% 2,5% 2,5% 2,5% ,8% ,8% NA 379 66,2% 13,2% 15,8% 14,2% 16,1% 6,9% 7,1% 3,7% 2,9% 2,4% ,3% ,3% No income 135 56,3% 16,3% 20,0% 8,1% 17,8% 6,7% 5,2% 5,9% 3,0% 1,5% 1,5% Less than 250 BGN 354 52,0% 30,5% 10,7% 7,6% 7,6% 2,8% 2,3% 2,0% 2,8% ,6% 251-500 BGN 370 65,1% 14,9% 18,9% 15,9% 11,1% 4,3% 4,3% 4,1% 2,7% 1,9% ,5% ,5% Personal monthly 501-750 BGN 96 69,8% 7,3% 27,1% 17,7% 14,6% 15,6% 5,2% 6,3% 2,1% 3,1% income 751-1000 52 76,9% 7,7% 21,2% 17,3% 15,4% 9,6% 13,5% 13,5% 5,8% More than 1000 BGN 29 69,0% 17,2% 31,0% 20,7% 17,2% 10,3% 3,4% 3,4% Don't know 37 67,6% 10,8% 24,3% 8,1% 8,1% 8,1% 2,7% NA 359 66,0% 13,4% 17,0% 14,5% 15,0% 6,7% 6,4% 3,6% 2,5% 1,9% ,3% ,3% I don't use financial services 584 56,0% 26,2% 10,1% 11,0% 10,4% 3,8% 2,6% 2,7% 2,7% 1,4% ,5% ,3% Financial services One 389 64,5% 14,4% 22,4% 11,6% 12,6% 5,7% 2,8% 4,1% 1,5% 1,0% ,3% usage Two 242 67,8% 11,2% 23,1% 14,5% 14,5% 7,9% 8,3% 3,3% 2,1% 2,1% ,4% Three and more 217 68,2% 7,8% 22,6% 18,4% 14,3% 10,1% 9,2% 7,8% 3,7% 3,7% ,5% ,5% Total 1432 62,2% 17,7% 17,5% 12,8% 12,3% 5,9% 4,6% 4,0% 2,4% 1,7% ,3% ,2% ,1% 115 If a conflict with a financial organization (bank, insurance company or the like) arises regarding the provision of financial services to you, how sure are you in the quick and just resolution of the dispute? - in short time I am I am not at I am not I am rather completely all sure quite sure Fifty-fifty sure sure Don't know Base: Row % Row % Row % Row % Row % Row % Sofia 269 11,2% 25,3% 29,0% 16,0% 5,2% 13,4% Regional center 484 14,7% 29,5% 29,1% 14,3% 2,9% 9,5% Type of residence Smaller town 276 10,1% 30,8% 32,6% 13,0% 1,4% 12,0% Village 403 13,4% 20,1% 29,0% 15,1% 1,2% 21,1% Male 682 13,9% 26,8% 31,4% 12,9% 2,5% 12,5% Gender Female 750 11,7% 25,9% 28,3% 16,1% 2,7% 15,3% 18-30 311 9,3% 25,7% 31,2% 16,4% 2,6% 14,8% 31-40 243 11,9% 30,9% 29,6% 15,2% 1,2% 11,1% Age 41-50 253 11,1% 26,5% 34,0% 15,0% 4,3% 9,1% 51-60 257 14,0% 23,7% 31,1% 14,4% 3,5% 13,2% 60+ 368 16,6% 25,5% 24,7% 12,5% 1,6% 19,0% Finished bachelor, master or higher degree 242 11,2% 21,9% 35,5% 21,5% 4,1% 5,8% Highest level of education Finished college 38 13,2% 36,8% 23,7% 18,4% 5,3% 2,6% achieved Finished secondary school 683 11,0% 29,4% 31,8% 14,9% 2,6% 10,2% Finished elementary and lower 465 15,9% 23,2% 24,5% 10,1% 1,5% 24,7% Employee 575 9,7% 29,4% 32,9% 17,0% 3,1% 7,8% Other status of employed persons 72 23,6% 19,4% 27,8% 12,5% 1,4% 15,3% Business owner 81 12,3% 27,2% 33,3% 13,6% 6,2% 7,4% Self-employed person in non-agricultural 29 6,9% 20,7% 37,9% 20,7% 13,8% activities Self-employed person in agricultural 21 4,8% 19,0% 38,1% 9,5% 28,6% activities Family helper 5 40,0% 20,0% 40,0% Main occupational status in the present Registered as unemployed 69 14,5% 31,9% 15,9% 11,6% 1,4% 24,6% Unregistered unemployed 74 21,6% 20,3% 25,7% 6,8% 5,4% 20,3% Retired - due to age 322 15,5% 26,1% 25,8% 11,8% 1,9% 18,9% Retired - other causes 65 13,8% 24,6% 32,3% 9,2% 1,5% 18,5% Pupil, student 85 7,1% 18,8% 32,9% 22,4% 1,2% 17,6% Housewife 22 18,2% 13,6% 31,8% 22,7% 13,6% Person unable to work 2 100,0% Another status of non working person 7 42,9% 28,6% 14,3% 14,3% Bulgarian 1202 12,4% 26,8% 30,4% 15,9% 2,8% 11,7% Turkish 146 13,7% 23,3% 30,8% 9,6% 22,6% Ethnicity Roma 62 17,7% 25,8% 14,5% 3,2% 1,6% 37,1% Other 21 14,3% 23,8% 33,3% 4,8% 9,5% 14,3% No income 3 33,3% 66,7% Less than 100 BGN 6 33,3% 33,3% 16,7% 16,7% 101-150 BGN 22 27,3% 36,4% 4,5% 31,8% 151-200 BGN 57 28,1% 15,8% 14,0% 8,8% 3,5% 29,8% Total household income 201-300 BGN 132 20,5% 24,2% 22,0% 7,6% 25,8% 301-500 BGN 216 13,0% 28,2% 33,8% 12,0% ,5% 12,5% More than 500 BGN 499 11,2% 28,1% 32,7% 15,6% 4,0% 8,4% Don't know 118 9,3% 28,8% 25,4% 14,4% 1,7% 20,3% NA 379 9,5% 24,0% 31,9% 19,0% 2,6% 12,9% No income 135 14,8% 23,0% 25,9% 15,6% 3,0% 17,8% Less than 250 BGN 354 19,5% 20,6% 23,2% 11,6% 1,7% 23,4% 251-500 BGN 370 9,7% 33,2% 33,8% 12,2% 2,7% 8,4% 501-750 BGN 96 10,4% 32,3% 32,3% 17,7% 2,1% 5,2% Personal monthly income 751-1000 52 13,5% 25,0% 28,8% 21,2% 5,8% 5,8% More than 1000 BGN 29 10,3% 24,1% 27,6% 17,2% 3,4% 17,2% Don't know 37 13,5% 24,3% 21,6% 18,9% 2,7% 18,9% NA 359 9,2% 25,1% 34,0% 17,3% 2,8% 11,7% I don't use financial services 584 14,2% 23,6% 28,3% 12,5% 1,0% 20,4% One 389 15,4% 26,7% 26,0% 15,9% 4,6% 11,3% Financial services usage Two 242 6,6% 31,4% 33,9% 14,0% 1,7% 12,4% Three and more 217 11,1% 27,2% 35,9% 18,4% 4,1% 3,2% Total 1432 12,8% 26,3% 29,7% 14,6% 2,6% 14,0% 116 If a conflict with a financial organization (bank, insurance company or the like) arises regarding the provision of financial services to you, how sure are you in the quick and just resolution of the dispute? - correctly I am I am not at I am not I am rather completely all sure quite sure Fifty-fifty sure sure Don't know Base: Row % Row % Row % Row % Row % Row % Sofia 269 13,8% 20,8% 29,0% 17,5% 3,0% 16,0% Regional center 484 16,5% 31,2% 26,9% 13,4% 2,3% 9,7% Type of residence Smaller town 276 10,5% 30,8% 29,7% 15,2% 1,1% 12,7% Village 403 14,1% 19,4% 30,5% 12,7% 1,7% 21,6% Male 682 14,7% 27,1% 28,4% 13,6% 2,5% 13,6% Gender Female 750 13,7% 24,7% 29,2% 14,9% 1,6% 15,9% 18-30 311 10,0% 28,3% 28,6% 15,4% 2,3% 15,4% 31-40 243 14,4% 28,4% 30,5% 13,6% ,8% 12,3% Age 41-50 253 12,3% 24,9% 36,4% 14,6% 3,2% 8,7% 51-60 257 15,6% 22,6% 30,0% 14,4% 2,7% 14,8% 60+ 368 17,9% 25,0% 22,0% 13,6% 1,4% 20,1% Finished bachelor, master or higher 242 11,2% 24,8% 36,0% 18,6% 2,1% 7,4% degree Highest level of Finished college 38 18,4% 23,7% 26,3% 26,3% 5,3% education achieved Finished secondary school 683 13,0% 27,4% 30,3% 15,7% 2,8% 10,8% Finished elementary and lower 465 17,0% 24,3% 23,2% 9,0% 1,1% 25,4% Employee 575 12,0% 25,9% 33,4% 17,7% 1,9% 9,0% Other status of employed persons 72 22,2% 23,6% 27,8% 12,5% 1,4% 12,5% Business owner 81 13,6% 29,6% 35,8% 8,6% 4,9% 7,4% Self-employed person in non-agricultural 29 6,9% 27,6% 37,9% 13,8% 13,8% activities Self-employed person in agricultural 21 4,8% 23,8% 33,3% 9,5% 28,6% activities Family helper 5 40,0% 20,0% 40,0% Main occupational status in the present Registered as unemployed 69 15,9% 30,4% 15,9% 10,1% 2,9% 24,6% Unregistered unemployed 74 23,0% 23,0% 23,0% 4,1% 5,4% 21,6% Retired - due to age 322 17,1% 24,8% 23,6% 12,1% 2,2% 20,2% Retired - other causes 65 15,4% 29,2% 26,2% 7,7% 21,5% Pupil, student 85 4,7% 23,5% 30,6% 23,5% 17,6% Housewife 22 22,7% 18,2% 22,7% 22,7% 13,6% Person unable to work 2 100,0% Another status of non working person 7 42,9% 28,6% 14,3% 14,3% Bulgarian 1202 14,1% 25,8% 29,3% 15,8% 2,4% 12,6% Turkish 146 13,0% 27,4% 30,1% 6,2% 23,3% Ethnicity Roma 62 19,4% 22,6% 16,1% 3,2% 38,7% Other 21 9,5% 28,6% 33,3% 14,3% 14,3% No income 3 33,3% 66,7% Less than 100 BGN 6 33,3% 33,3% 16,7% 16,7% 101-150 BGN 22 27,3% 31,8% 9,1% 31,8% 151-200 BGN 57 31,6% 10,5% 17,5% 3,5% 3,5% 33,3% Total household income 201-300 BGN 132 20,5% 23,5% 22,0% 5,3% 3,0% 25,8% 301-500 BGN 216 13,0% 30,6% 29,2% 13,0% ,9% 13,4% More than 500 BGN 499 12,0% 27,7% 31,7% 16,8% 2,2% 9,6% Don't know 118 11,9% 27,1% 25,4% 12,7% ,8% 22,0% NA 379 12,4% 23,2% 31,7% 17,9% 1,8% 12,9% No income 135 13,3% 25,2% 25,2% 14,8% 3,0% 18,5% Less than 250 BGN 354 19,8% 20,1% 23,2% 10,7% 2,0% 24,3% 251-500 BGN 370 11,4% 32,2% 30,5% 14,3% 1,9% 9,7% 501-750 BGN 96 11,5% 27,1% 36,5% 17,7% 1,0% 6,3% Personal monthly income 751-1000 52 13,5% 21,2% 32,7% 19,2% 3,8% 9,6% More than 1000 BGN 29 13,8% 17,2% 37,9% 10,3% 3,4% 17,2% Don't know 37 16,2% 27,0% 24,3% 13,5% 18,9% NA 359 12,5% 26,2% 31,2% 16,4% 1,9% 11,7% I don't use financial services 584 14,6% 24,8% 26,2% 12,5% 1,0% 20,9% One 389 16,7% 26,5% 25,2% 14,7% 4,1% 12,9% Financial services usage Two 242 8,7% 28,5% 35,1% 14,0% 1,2% 12,4% Three and more 217 14,7% 24,4% 35,5% 18,9% 1,8% 4,6% Total 1432 14,2% 25,8% 28,8% 14,3% 2,0% 14,8% 117 What do you think deserves primary attention when one has to compare between the banks to choose the one where to take a credit from? he way Credit interest the Gifts and rate and the Reputation personnel View of the advertising credit cost (fame) Don't know treat you office campaigns Other Base: Row % Row % Row % Row % Row % Row % Row % Sofia 269 71,4% 19,0% 5,6% 2,2% 1,1% ,7% Regional center 484 71,5% 13,0% 10,1% 3,5% ,6% ,6% ,6% Type of residence Smaller town 276 64,5% 16,7% 16,7% 1,1% ,7% ,4% Village 403 58,3% 16,9% 21,8% 2,2% ,2% ,5% Male 682 68,3% 15,5% 13,0% 1,9% ,1% ,6% ,4% Gender Female 750 64,7% 16,3% 14,5% 2,9% ,9% ,4% ,3% 18-30 311 68,5% 16,4% 10,6% 2,6% 1,0% 1,0% 31-40 243 72,8% 13,6% 9,9% 2,5% ,4% ,4% ,4% Age 41-50 253 71,9% 17,0% 7,5% 2,8% ,4% ,4% 51-60 257 71,6% 13,2% 11,3% 2,3% ,8% ,8% 60+ 368 53,0% 18,2% 25,3% 2,2% ,3% ,5% ,5% Finished bachelor, master or higher 242 76,9% 17,8% 3,7% 1,2% ,4% degree Highest level of Finished college 38 81,6% 7,9% 10,5% education achieved Finished secondary school 683 71,3% 16,0% 8,5% 2,3% 1,0% ,6% ,3% Finished elementary and lower 465 52,5% 15,7% 27,1% 3,4% ,6% ,6% Employee 575 73,4% 16,9% 6,4% 2,3% ,3% ,3% ,3% Other status of employed persons 72 61,1% 16,7% 18,1% 2,8% 1,4% Business owner 81 87,7% 9,9% 2,5% Self-employed person in non-agricultural 29 82,8% 3,4% 10,3% 3,4% activities Self-employed person in agricultural 21 42,9% 23,8% 23,8% 9,5% activities Family helper 5 20,0% 20,0% 60,0% Main occupational status in the present Registered as unemployed 69 62,3% 10,1% 23,2% 2,9% 1,4% Unregistered unemployed 74 59,5% 14,9% 25,7% Retired - due to age 322 52,5% 18,6% 24,5% 2,5% ,6% ,6% ,6% Retired - other causes 65 64,6% 10,8% 18,5% 3,1% 1,5% 1,5% Pupil, student 85 68,2% 15,3% 8,2% 4,7% 2,4% 1,2% Housewife 22 72,7% 22,7% 4,5% Person unable to work 2 50,0% 50,0% Another status of non working person 7 71,4% 14,3% 14,3% Bulgarian 1202 68,5% 16,1% 11,2% 2,7% ,7% ,5% ,3% Turkish 146 60,3% 14,4% 22,6% 2,1% ,7% Ethnicity Roma 62 48,4% 11,3% 38,7% 1,6% Other 21 42,9% 28,6% 28,6% No income 3 66,7% 33,3% Less than 100 BGN 6 83,3% 16,7% 101-150 BGN 22 63,6% 9,1% 22,7% 4,5% 151-200 BGN 57 40,4% 22,8% 35,1% 1,8% Total household 201-300 BGN 132 59,8% 9,8% 27,3% 2,3% ,8% income 301-500 BGN 216 57,9% 21,3% 17,6% 1,4% ,9% ,9% More than 500 BGN 499 71,7% 17,4% 7,0% 2,4% ,6% ,6% ,2% Don't know 118 59,3% 16,9% 16,9% 4,2% ,8% ,8% ,8% NA 379 72,6% 12,4% 11,1% 2,6% 1,1% ,3% No income 135 57,0% 20,7% 17,8% 2,2% 1,5% ,7% Less than 250 BGN 354 54,2% 17,5% 24,0% 2,5% ,3% ,6% ,8% 251-500 BGN 370 73,0% 15,4% 8,4% 1,9% ,5% ,3% ,5% Personal monthly 501-750 BGN 96 66,7% 22,9% 7,3% 2,1% 1,0% income 751-1000 52 78,8% 11,5% 7,7% 1,9% More than 1000 BGN 29 69,0% 17,2% 10,3% 3,4% Don't know 37 67,6% 8,1% 13,5% 5,4% 2,7% 2,7% NA 359 73,0% 12,5% 10,9% 2,8% ,6% ,3% I don't use financial services 584 54,5% 17,6% 23,3% 2,9% ,7% ,3% ,7% Financial services One 389 72,2% 13,4% 11,3% 1,5% 1,0% ,5% usage Two 242 74,8% 16,9% 3,7% 3,3% ,8% ,4% Three and more 217 78,8% 14,7% 4,1% 1,8% ,5% Total 1432 66,4% 15,9% 13,8% 2,4% ,6% ,5% ,3% 118 What do you think deserves primary attention when one has to compare between the leasing companies to choose the one where to take a credit from? he way Credit interest the Gifts and rate and the Reputation personnel View of the advertising credit cost Don't know (fame) treat you office campaigns Other Base: Row % Row % Row % Row % Row % Row % Row % Sofia 269 66,9% 9,7% 11,5% 3,7% 3,0% 5,2% Regional center 484 58,9% 28,1% 6,2% 2,7% 2,3% 1,0% ,8% Type of residence Smaller town 276 51,8% 34,8% 9,4% 3,3% ,7% Village 403 43,2% 39,5% 10,9% 3,5% 1,7% ,5% ,7% Male 682 56,0% 27,7% 10,0% 2,5% 1,9% 1,5% ,4% Gender Female 750 53,3% 30,4% 8,4% 3,9% 1,7% 1,7% ,5% 18-30 311 58,8% 20,9% 10,0% 3,5% 3,5% 2,9% ,3% 31-40 243 60,9% 23,5% 10,7% 2,5% 1,6% ,4% ,4% Age 41-50 253 62,8% 22,5% 8,7% 3,2% 1,6% ,8% ,4% 51-60 257 54,9% 27,6% 10,9% 3,5% 1,6% 1,6% 60+ 368 41,0% 45,4% 6,5% 3,3% ,8% 1,9% 1,1% Finished bachelor, master or higher 242 65,7% 16,9% 10,3% 4,5% ,8% 1,7% degree Highest level of Finished college 38 55,3% 21,1% 13,2% 2,6% 7,9% education achieved Finished secondary school 683 61,3% 22,3% 9,4% 2,5% 2,0% 1,6% ,9% Finished elementary and lower 465 38,7% 46,2% 8,0% 3,7% 1,5% 1,7% ,2% Employee 575 62,6% 19,0% 12,2% 3,0% 1,6% 1,2% ,5% Other status of employed persons 72 50,0% 29,2% 9,7% 4,2% 2,8% 2,8% 1,4% Business owner 81 74,1% 14,8% 4,9% 1,2% 2,5% 1,2% 1,2% Self-employed person in 29 75,9% 20,7% 3,4% non-agricultural activities Self-employed person in agricultural 21 38,1% 33,3% 23,8% 4,8% activities Family helper 5 20,0% 80,0% Main occupational Registered as unemployed 69 46,4% 39,1% 11,6% 1,4% 1,4% status in the present Unregistered unemployed 74 43,2% 39,2% 8,1% 6,8% 2,7% Retired - due to age 322 39,1% 48,1% 5,6% 2,5% 1,9% 2,2% ,6% Retired - other causes 65 44,6% 38,5% 7,7% 9,2% Pupil, student 85 64,7% 20,0% 5,9% 3,5% 3,5% 2,4% Housewife 22 63,6% 13,6% 9,1% 4,5% 9,1% Person unable to work 2 50,0% 50,0% Another status of non working 7 71,4% 14,3% 14,3% person Bulgarian 1202 57,3% 25,7% 9,2% 3,5% 1,9% 1,8% ,6% Turkish 146 39,0% 44,5% 13,0% 1,4% 2,1% Ethnicity Roma 62 37,1% 58,1% 1,6% 1,6% 1,6% Other 21 61,9% 33,3% 4,8% No income 3 33,3% 66,7% Less than 100 BGN 6 33,3% 33,3% 33,3% 101-150 BGN 22 40,9% 40,9% 4,5% 4,5% 4,5% 4,5% 151-200 BGN 57 33,3% 59,6% 1,8% 1,8% 3,5% Total household 201-300 BGN 132 40,2% 52,3% 3,0% 1,5% ,8% ,8% 1,5% income 301-500 BGN 216 48,6% 36,1% 7,9% 2,8% 2,3% 1,9% ,5% More than 500 BGN 499 62,7% 20,0% 11,0% 1,8% 2,0% 1,8% ,6% Don't know 118 54,2% 30,5% 7,6% 3,4% 2,5% 1,7% NA 379 57,0% 23,0% 11,1% 6,1% 1,6% 1,1% ,3% No income 135 52,6% 29,6% 7,4% 3,7% 3,7% 3,0% Less than 250 BGN 354 41,5% 46,3% 6,5% 2,8% 1,1% 1,4% ,3% 251-500 BGN 370 60,5% 23,5% 9,5% 1,4% 2,2% 1,9% 1,1% Personal monthly 501-750 BGN 96 60,4% 20,8% 15,6% 1,0% 2,1% income 751-1000 52 75,0% 11,5% 5,8% 3,8% 1,9% 1,9% More than 1000 BGN 29 62,1% 17,2% 6,9% 10,3% 3,4% Don't know 37 64,9% 24,3% 2,7% 2,7% 5,4% NA 359 56,0% 24,0% 11,7% 6,1% ,8% 1,1% ,3% I don't use financial services 584 44,0% 38,5% 9,8% 4,6% 1,4% 1,2% ,5% Financial services One 389 59,1% 27,0% 7,7% 1,3% 2,6% 2,1% ,3% usage Two 242 63,6% 20,2% 9,1% 2,9% 2,5% 1,2% ,4% Three and more 217 65,0% 17,5% 10,1% 3,2% ,9% 2,3% ,9% Total 1432 54,6% 29,1% 9,1% 3,2% 1,8% 1,6% ,5% 119 What do you think deserves primary attention when one has to compare between consumer credit companies to choose the one where to take a credit from? he way the Gifts and Credit interest rate Reputation personnel advertising View of the and the credit cost Don't know (fame) treat you campaigns Other office Base: Row % Row % Row % Row % Row % Row % Row % Sofia 269 72,9% 14,1% 7,4% 2,6% 1,5% ,4% 1,1% Regional center 484 57,2% 31,6% 3,9% 2,9% 2,9% 1,2% ,2% Type of residence Smaller town 276 48,6% 39,9% 9,8% ,7% ,4% ,7% Village 403 43,9% 41,9% 10,4% 3,2% ,2% ,2% Male 682 56,7% 31,2% 7,2% 2,3% 1,6% ,4% ,4% Gender Female 750 52,9% 34,3% 7,9% 2,7% 1,2% ,7% ,4% 18-30 311 59,5% 27,3% 6,8% 2,6% 2,6% ,3% 1,0% 31-40 243 62,6% 24,7% 8,6% 2,1% ,8% ,8% ,4% Age 41-50 253 60,5% 24,9% 9,1% 4,0% ,8% ,4% ,4% 51-60 257 54,9% 31,9% 7,4% 3,9% 1,6% ,4% 60+ 368 41,6% 48,9% 6,5% ,8% 1,1% ,8% ,3% Finished bachelor, master or higher 242 67,4% 21,1% 7,0% 3,3% ,8% ,4% degree Highest level of Finished college 38 47,4% 28,9% 18,4% 2,6% 2,6% education achieved Finished secondary school 683 60,3% 26,9% 7,6% 2,5% 1,0% ,9% ,7% Finished elementary and lower 465 40,4% 48,0% 6,9% 2,2% 2,2% ,4% Employee 575 63,5% 22,8% 8,5% 3,5% 1,0% ,5% ,2% Other status of employed persons 72 51,4% 30,6% 8,3% 1,4% 5,6% 2,8% Business owner 81 70,4% 22,2% 4,9% 1,2% 1,2% Self-employed person in 29 72,4% 13,8% 6,9% 6,9% non-agricultural activities Self-employed person in agricultural 21 33,3% 42,9% 14,3% 9,5% activities Family helper 5 20,0% 80,0% Main occupational status in the present Registered as unemployed 69 43,5% 42,0% 7,2% 4,3% 2,9% Unregistered unemployed 74 51,4% 41,9% 5,4% 1,4% Retired - due to age 322 39,1% 50,9% 6,5% 1,2% ,9% ,9% ,3% Retired - other causes 65 43,1% 47,7% 6,2% 1,5% 1,5% Pupil, student 85 64,7% 21,2% 7,1% 2,4% 2,4% 1,2% 1,2% Housewife 22 59,1% 27,3% 4,5% 4,5% 4,5% Person unable to work 2 50,0% 50,0% Another status of non working person 7 71,4% 28,6% Bulgarian 1202 57,2% 30,1% 7,6% 2,4% 1,6% ,7% ,5% Turkish 146 44,5% 41,8% 10,3% 3,4% Ethnicity Roma 62 41,9% 54,8% 1,6% 1,6% Other 21 28,6% 61,9% 9,5% No income 3 33,3% 66,7% Less than 100 BGN 6 33,3% 33,3% 33,3% 101-150 BGN 22 40,9% 45,5% 9,1% 4,5% 151-200 BGN 57 35,1% 61,4% 1,8% 1,8% Total household income 201-300 BGN 132 40,2% 51,5% 6,1% ,8% 1,5% 301-500 BGN 216 47,7% 42,6% 5,6% 1,9% ,9% ,9% ,5% More than 500 BGN 499 62,7% 25,1% 7,4% 2,0% 1,6% ,6% ,6% Don't know 118 50,0% 36,4% 8,5% 2,5% 2,5% NA 379 59,1% 24,5% 10,0% 4,0% 1,6% ,3% ,5% No income 135 54,8% 34,1% 7,4% 1,5% ,7% ,7% ,7% Less than 250 BGN 354 42,1% 49,2% 5,4% ,8% 1,7% ,8% 251-500 BGN 370 58,9% 28,4% 7,8% 2,4% ,8% ,8% ,8% Personal monthly 501-750 BGN 96 57,3% 31,3% 6,3% 4,2% 1,0% income 751-1000 52 78,8% 9,6% 7,7% 1,9% 1,9% More than 1000 BGN 29 69,0% 24,1% 3,4% 3,4% Don't know 37 54,1% 27,0% 8,1% 2,7% 8,1% NA 359 57,7% 25,9% 10,0% 4,5% 1,1% ,3% ,6% I don't use financial services 584 42,8% 42,8% 9,1% 2,4% 1,5% 1,0% ,3% Financial services One 389 60,2% 29,6% 5,4% 1,8% 2,1% ,3% ,8% usage Two 242 64,0% 24,8% 7,0% 3,3% ,4% ,4% Three and more 217 66,8% 20,7% 7,8% 3,2% ,9% ,5% Total 1432 54,7% 32,8% 7,5% 2,5% 1,4% ,6% ,4% 120 If you considered taking a credit from a bank, what would you prefer? A credit in a I wouldn't A credit in foreign take any lev currency credit Don't know Base: Row % Row % Row % Row % Sofia 269 46,1% 19,3% 22,7% 11,9% Regional center 484 63,2% 7,9% 22,7% 6,2% Type of residence Smaller town 276 58,0% 6,9% 29,3% 5,8% Village 403 53,3% 5,5% 33,7% 7,4% Male 682 55,4% 10,4% 27,4% 6,7% Gender Female 750 56,9% 8,0% 26,8% 8,3% 18-30 311 58,2% 13,8% 18,0% 10,0% 31-40 243 63,0% 11,5% 19,3% 6,2% Age 41-50 253 62,5% 9,1% 22,9% 5,5% 51-60 257 60,7% 7,0% 27,6% 4,7% 60+ 368 42,7% 5,2% 42,4% 9,8% Finished bachelor, master or higher 242 59,1% 16,5% 17,8% 6,6% degree Highest level of education Finished college 38 68,4% 7,9% 21,1% 2,6% achieved Finished secondary school 683 60,8% 10,0% 23,7% 5,6% Finished elementary and lower 465 47,3% 4,1% 37,4% 11,2% Employee 575 63,8% 11,0% 18,1% 7,1% Other status of employed persons 72 61,1% 6,9% 25,0% 6,9% Business owner 81 63,0% 16,0% 18,5% 2,5% Self-employed person in 29 58,6% 17,2% 24,1% non-agricultural activities Self-employed person in agricultural 21 85,7% 14,3% activities Family helper 5 100,0% Main occupational status in the present Registered as unemployed 69 49,3% 5,8% 39,1% 5,8% Unregistered unemployed 74 50,0% 10,8% 25,7% 13,5% Retired - due to age 322 44,1% 5,0% 43,2% 7,8% Retired - other causes 65 46,2% 40,0% 13,8% Pupil, student 85 55,3% 12,9% 17,6% 14,1% Housewife 22 59,1% 22,7% 18,2% Person unable to work 2 100,0% Another status of non working person 7 57,1% 14,3% 28,6% Bulgarian 1202 56,1% 10,1% 26,6% 7,2% Turkish 146 63,0% 4,8% 24,7% 7,5% Ethnicity Roma 62 50,0% 1,6% 37,1% 11,3% Other 21 33,3% 4,8% 42,9% 19,0% No income 3 33,3% 66,7% Less than 100 BGN 6 66,7% 33,3% 101-150 BGN 22 27,3% 4,5% 54,5% 13,6% 151-200 BGN 57 29,8% 1,8% 57,9% 10,5% Total household income 201-300 BGN 132 44,7% 3,0% 38,6% 13,6% 301-500 BGN 216 54,2% 8,8% 32,4% 4,6% More than 500 BGN 499 62,3% 12,0% 19,2% 6,4% Don't know 118 61,0% 5,9% 27,1% 5,9% NA 379 57,5% 10,3% 23,7% 8,4% No income 135 52,6% 5,9% 28,9% 12,6% Less than 250 BGN 354 42,4% 4,8% 43,5% 9,3% 251-500 BGN 370 67,3% 9,2% 19,7% 3,8% 501-750 BGN 96 66,7% 11,5% 13,5% 8,3% Personal monthly income 751-1000 52 53,8% 30,8% 11,5% 3,8% More than 1000 BGN 29 37,9% 10,3% 37,9% 13,8% Don't know 37 59,5% 13,5% 21,6% 5,4% NA 359 58,5% 10,3% 23,4% 7,8% I don't use financial services 584 46,2% 5,0% 38,9% 9,9% One 389 56,6% 10,8% 25,7% 6,9% Financial services usage Two 242 66,9% 10,3% 17,4% 5,4% Three and more 217 70,5% 16,1% 8,8% 4,6% 121 Total 1432 56,2% 9,1% 27,1% 7,5% When taking a credit from a bank, what would you give more importance to...? Commissions Credit Both, commissions Annual I wouldn't' charged by the interest and credit interest Percentage take any bank rates rates Rate credit Don't know Base: Row % Row % Row % Row % Row % Row % Sofia 269 ,7% 32,3% 37,5% 4,8% 17,1% 7,4% Regional center 484 ,6% 29,8% 36,6% 6,6% 18,8% 7,6% Type of residence Smaller town 276 42,8% 18,8% 5,1% 25,0% 8,3% Village 403 1,2% 43,9% 12,7% 2,0% 31,8% 8,4% Male 682 ,7% 37,4% 25,8% 5,3% 23,0% 7,8% Gender Female 750 ,7% 36,1% 27,3% 4,1% 23,6% 8,1% 18-30 311 ,3% 39,9% 28,9% 5,8% 15,1% 10,0% 31-40 243 2,9% 39,9% 32,1% 6,6% 13,6% 4,9% Age 41-50 253 ,4% 36,4% 34,8% 5,5% 17,8% 5,1% 51-60 257 37,0% 28,8% 3,9% 24,5% 5,8% 60+ 368 ,3% 32,1% 13,9% 2,4% 39,7% 11,7% Finished bachelor, master or higher 242 2,1% 31,8% 41,3% 9,5% 12,8% 2,5% degree Highest level of Finished college 38 42,1% 42,1% 7,9% 7,9% education achieved Finished secondary school 683 ,4% 40,7% 29,3% 4,7% 20,1% 4,8% Finished elementary and lower 465 ,4% 33,3% 13,5% 2,6% 34,8% 15,3% Employee 575 1,0% 39,5% 35,1% 6,1% 15,0% 3,3% Other status of employed persons 72 38,9% 19,4% 5,6% 20,8% 15,3% Business owner 81 1,2% 37,0% 40,7% 4,9% 12,3% 3,7% Self-employed person in 29 27,6% 48,3% 3,4% 20,7% non-agricultural activities Self-employed person in agricultural 21 57,1% 19,0% 4,8% 14,3% 4,8% activities Family helper 5 80,0% 20,0% Main occupational status in the present Registered as unemployed 69 34,8% 18,8% 1,4% 31,9% 13,0% Unregistered unemployed 74 1,4% 32,4% 25,7% 5,4% 21,6% 13,5% Retired - due to age 322 32,3% 12,7% 2,2% 40,1% 12,7% Retired - other causes 65 3,1% 32,3% 12,3% 6,2% 35,4% 10,8% Pupil, student 85 41,2% 29,4% 4,7% 14,1% 10,6% Housewife 22 50,0% 27,3% 4,5% 9,1% 9,1% Person unable to work 2 100,0% Another status of non working person 7 14,3% 28,6% 14,3% 28,6% 14,3% Bulgarian 1202 ,6% 36,2% 29,1% 5,2% 22,4% 6,6% Turkish 146 1,4% 45,2% 17,1% 1,4% 23,3% 11,6% Ethnicity Roma 62 30,6% 6,5% 1,6% 35,5% 25,8% Other 21 4,8% 23,8% 9,5% 9,5% 42,9% 9,5% No income 3 33,3% 66,7% Less than 100 BGN 6 33,3% 33,3% 16,7% 16,7% 101-150 BGN 22 22,7% 13,6% 45,5% 18,2% 151-200 BGN 57 33,3% 7,0% 1,8% 43,9% 14,0% Total household income 201-300 BGN 132 34,1% 10,6% 1,5% 35,6% 18,2% 301-500 BGN 216 1,4% 38,4% 20,8% 3,7% 28,7% 6,9% More than 500 BGN 499 1,2% 36,7% 34,3% 5,8% 16,8% 5,2% Don't know 118 32,2% 27,1% 5,9% 25,4% 9,3% NA 379 ,3% 39,8% 29,0% 5,0% 19,3% 6,6% No income 135 ,7% 34,1% 24,4% 5,2% 24,4% 11,1% Less than 250 BGN 354 1,1% 34,2% 10,5% 2,3% 40,1% 11,9% 251-500 BGN 370 ,3% 39,5% 36,5% 4,1% 15,4% 4,3% Personal monthly 501-750 BGN 96 3,1% 33,3% 32,3% 10,4% 15,6% 5,2% income 751-1000 52 1,9% 28,8% 44,2% 11,5% 5,8% 7,7% More than 1000 BGN 29 41,4% 13,8% 3,4% 31,0% 10,3% Don't know 37 35,1% 27,0% 5,4% 16,2% 16,2% NA 359 39,3% 30,1% 5,0% 19,2% 6,4% I don't use financial services 584 ,9% 33,2% 15,9% 2,9% 34,9% 12,2% One 389 ,8% 39,3% 26,2% 5,7% 21,3% 6,7% Financial services usage Two 242 40,9% 39,3% 3,3% 13,2% 3,3% Three and more 217 ,9% 36,9% 41,9% 9,2% 6,9% 4,1% Total 1432 ,7% 36,7% 26,6% 4,7% 23,3% 8,0% 122 When do you think buying on credit is justified? If a shop To pay for has sales For working Household It depends education to I wouldn't buy on for the In financial If a person capital or For house For repairs, electric on the case get a better credit in any goods you For medical difficulties, really needs investment in Other, purchase, insulation, appliances and Education and the For a Helping the To cover paid job circumstance Don't know need treatment urgent needs a vacation business namely property windows machinery of children person vehicle children debt Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 47,6% 14,9% 7,4% 10,4% 4,1% 3,0% 3,3% 1,1% 1,5% 4,5% ,7% ,7% ,4% ,4% Regional center 484 29,8% 15,5% 19,4% 11,4% 5,6% 2,7% 2,5% 4,8% 3,5% 2,5% ,6% ,4% ,4% ,8% ,2% Type of residence Smaller town 276 34,8% 22,5% 17,0% 7,6% 5,4% 3,3% 2,9% 1,4% 1,8% 1,8% ,4% 1,1% Village 403 23,8% 28,0% 20,1% 11,7% 5,5% 2,7% 2,0% ,7% 1,5% ,7% 1,5% ,2% ,7% ,5% ,2% Male 682 29,5% 21,0% 17,2% 11,3% 5,0% 2,5% 3,4% 3,5% 1,9% 2,3% 1,2% ,1% ,1% ,1% ,7% ,1% Gender Female 750 35,1% 19,6% 16,7% 9,9% 5,5% 3,2% 1,9% 1,2% 2,5% 1,5% 1,1% ,7% ,7% ,5% ,1% 18-30 311 46,6% 10,9% 15,1% 13,8% 1,6% 1,3% 2,3% 2,6% 1,6% 1,9% ,6% ,3% ,3% ,6% ,3% 31-40 243 35,0% 15,2% 14,4% 9,9% 4,9% 4,5% 4,1% 3,3% 2,5% 2,5% 1,2% 1,2% ,4% ,8% Age 41-50 253 32,0% 16,2% 15,8% 13,0% 5,5% 3,2% 2,4% 4,0% 2,0% 2,0% 1,2% ,8% ,4% ,4% ,4% ,4% ,4% 51-60 257 30,0% 19,5% 15,2% 10,5% 9,3% 3,1% 1,6% 1,9% 4,3% 2,3% 1,2% ,8% ,4% 60+ 368 20,7% 34,8% 22,0% 6,5% 5,4% 2,7% 2,7% ,5% 1,4% 1,1% 1,4% ,3% ,5% Finished bachelor, master or higher 242 45,9% 13,2% 9,5% 6,6% 4,1% 3,7% 3,3% 3,7% 3,3% 4,5% 1,2% ,4% ,4% degree Highest level of Finished college 38 39,5% 7,9% 18,4% 13,2% 7,9% 2,6% 2,6% 2,6% 5,3% education achieved Finished secondary school 683 35,9% 18,2% 12,2% 13,0% 5,6% 3,1% 2,9% 3,4% 1,3% 1,3% ,7% ,6% ,6% ,6% ,4% ,1% ,1% Finished elementary and lower 465 20,0% 27,7% 27,7% 8,8% 5,2% 2,2% 1,5% ,2% 3,0% ,9% 1,7% ,2% ,4% ,4% Employee 575 36,2% 15,7% 12,0% 12,0% 5,6% 3,7% 3,5% 1,9% 2,4% 2,8% 1,6% ,9% ,7% ,5% ,3% ,2% ,2% Other status of employed persons 72 23,6% 18,1% 19,4% 20,8% 2,8% 4,2% 4,2% 2,8% 1,4% 1,4% 1,4% Business owner 81 43,2% 12,3% 8,6% 8,6% 3,7% 1,2% 18,5% 1,2% 2,5% Self-employed person in non-agricultural 29 44,8% 17,2% 3,4% 6,9% 10,3% 3,4% 3,4% 6,9% 3,4% activities Self-employed person in agricultural 21 28,6% 9,5% 23,8% 9,5% 14,3% 4,8% 4,8% 4,8% activities Family helper 5 60,0% 20,0% 20,0% Main occupational status in the present Registered as unemployed 69 23,2% 30,4% 21,7% 11,6% 4,3% 1,4% 1,4% 2,9% 1,4% 1,4% Unregistered unemployed 74 32,4% 13,5% 29,7% 17,6% 5,4% 1,4% Retired - due to age 322 20,5% 33,5% 23,6% 5,6% 6,8% 2,5% 1,9% ,6% 1,6% 1,2% 1,2% ,3% ,6% Retired - other causes 65 20,0% 20,0% 24,6% 7,7% 7,7% 3,1% 4,6% 3,1% 6,2% 1,5% 1,5% Pupil, student 85 63,5% 11,8% 12,9% 7,1% 2,4% 1,2% 1,2% Housewife 22 50,0% 9,1% 4,5% 22,7% 13,6% Person unable to work 2 100,0% Another status of non working person 7 14,3% 14,3% 42,9% 14,3% 14,3% Bulgarian 1202 34,6% 19,5% 15,1% 10,3% 5,2% 3,1% 2,8% 2,7% 2,1% 2,2% ,7% ,4% ,4% ,3% ,4% ,1% ,1% Turkish 146 26,7% 25,3% 21,9% 7,5% 7,5% ,7% 3,4% ,7% 4,1% ,7% ,7% ,7% Ethnicity Roma 62 6,5% 22,6% 35,5% 17,7% 3,2% 6,5% 1,6% 1,6% 3,2% 1,6% Other 21 23,8% 23,8% 23,8% 23,8% 4,8% No income 3 33,3% 66,7% Less than 100 BGN 6 33,3% 33,3% 16,7% 16,7% 101-150 BGN 22 9,1% 31,8% 40,9% 4,5% 9,1% 4,5% 151-200 BGN 57 19,3% 38,6% 22,8% 5,3% 8,8% 1,8% 3,5% Total household income 201-300 BGN 132 15,2% 31,8% 29,5% 8,3% 8,3% 2,3% ,8% 1,5% 2,3% 301-500 BGN 216 28,2% 27,3% 15,7% 7,4% 6,0% 3,7% 3,2% 1,4% 1,9% 1,4% 1,4% ,5% ,5% ,9% ,5% More than 500 BGN 499 37,7% 15,0% 10,8% 11,8% 6,2% 3,4% 4,6% 2,8% 1,8% 2,2% 1,4% ,6% ,8% ,2% ,2% ,2% ,2% Don't know 118 36,4% 17,8% 21,2% 10,2% 4,2% 4,2% 1,7% 2,5% ,8% ,8% NA 379 35,9% 16,4% 17,4% 12,7% 2,1% 1,6% 1,6% 3,7% 3,7% 3,2% ,3% ,3% ,3% ,3% ,8% No income 135 45,2% 16,3% 19,3% 12,6% 1,5% 1,5% ,7% 1,5% ,7% ,7% Less than 250 BGN 354 18,6% 33,6% 22,9% 8,5% 5,9% 2,3% 2,3% ,3% 1,1% 1,4% 2,3% ,3% ,3% ,3% 251-500 BGN 370 35,7% 13,8% 12,4% 10,0% 9,5% 4,1% 4,6% 2,2% 2,4% 1,1% ,8% 1,4% 1,1% ,5% ,3% ,3% Personal monthly 501-750 BGN 96 34,4% 18,8% 10,4% 15,6% 4,2% 2,1% 4,2% 2,1% 2,1% 4,2% 1,0% 1,0% income 751-1000 52 42,3% 13,5% 7,7% 11,5% 3,8% 7,7% 3,8% 3,8% 1,9% 3,8% More than 1000 BGN 29 48,3% 27,6% 10,3% 6,9% 6,9% Don't know 37 27,0% 10,8% 27,0% 10,8% 5,4% 8,1% 5,4% 5,4% NA 359 35,1% 17,0% 17,3% 11,1% 2,5% 1,9% 1,4% 4,5% 3,6% 3,6% ,6% ,3% ,3% ,3% ,6% I don't use financial services 584 26,2% 30,5% 22,9% 7,2% 3,3% 1,9% 2,1% ,2% 2,6% 1,7% ,2% ,2% ,5% ,5% ,2% One 389 35,5% 18,0% 15,9% 10,8% 6,4% 2,8% 1,5% 2,3% 2,3% 1,3% 1,3% ,5% ,3% ,8% ,3% Financial services usage Two 242 35,5% 12,8% 9,5% 15,3% 9,1% 3,3% 2,9% 2,5% 2,5% 2,1% 2,1% ,4% ,8% ,8% ,4% Three and more 217 40,1% 5,1% 10,6% 13,8% 4,1% 5,1% 5,5% 7,8% ,9% 3,2% 2,3% ,9% ,5% Total 1432 32,4% 20,3% 16,9% 10,5% 5,2% 2,9% 2,6% 2,3% 2,2% 1,9% 1,1% ,4% ,4% ,3% ,3% ,1% ,1% 123 What tendencies from the ones given below you follow personally? Changes in the property Changes of quotations and Changes of interest rates on market indices in the capital market deposits Yes No Yes No Yes No Base: Row % Row % Row % Row % Row % Row % Sofia 269 33,1% 66,9% 9,7% 90,3% 38,3% 61,7% Regional center 484 23,3% 76,7% 4,5% 95,5% 23,6% 76,4% Type of residence Smaller town 276 24,6% 75,4% 3,6% 96,4% 22,5% 77,5% Village 403 13,6% 86,4% ,7% 99,3% 13,6% 86,4% Male 682 26,1% 73,9% 6,3% 93,7% 23,2% 76,8% Gender Female 750 19,6% 80,4% 2,4% 97,6% 23,5% 76,5% 18-30 311 24,1% 75,9% 7,1% 92,9% 23,8% 76,2% 31-40 243 28,0% 72,0% 4,5% 95,5% 27,6% 72,4% Age 41-50 253 26,9% 73,1% 4,0% 96,0% 30,0% 70,0% 51-60 257 26,5% 73,5% 3,9% 96,1% 23,3% 76,7% 60+ 368 12,5% 87,5% 2,2% 97,8% 15,5% 84,5% Finished bachelor, master or higher 242 38,4% 61,6% 8,7% 91,3% 40,1% 59,9% degree Highest level of education Finished college 38 31,6% 68,4% 10,5% 89,5% 26,3% 73,7% achieved Finished secondary school 683 25,0% 75,0% 4,1% 95,9% 26,1% 73,9% Finished elementary and lower 465 10,3% 89,7% 1,7% 98,3% 10,5% 89,5% Employee 575 29,0% 71,0% 5,7% 94,3% 30,1% 69,9% Other status of employed persons 72 15,3% 84,7% 2,8% 97,2% 13,9% 86,1% Business owner 81 48,1% 51,9% 8,6% 91,4% 42,0% 58,0% Self-employed person in non-agricultural 29 31,0% 69,0% 3,4% 96,6% 34,5% 65,5% activities Self-employed person in agricultural 21 23,8% 76,2% 100,0% 19,0% 81,0% activities Family helper 5 100,0% 100,0% 100,0% Main occupational status in the present Registered as unemployed 69 18,8% 81,2% 4,3% 95,7% 18,8% 81,2% Unregistered unemployed 74 13,5% 86,5% 4,1% 95,9% 10,8% 89,2% Retired - due to age 322 12,4% 87,6% 2,5% 97,5% 16,8% 83,2% Retired - other causes 65 15,4% 84,6% 100,0% 7,7% 92,3% Pupil, student 85 14,1% 85,9% 4,7% 95,3% 16,5% 83,5% Housewife 22 27,3% 72,7% 100,0% 31,8% 68,2% Person unable to work 2 100,0% 100,0% 100,0% Another status of non working person 7 42,9% 57,1% 100,0% 14,3% 85,7% Bulgarian 1202 23,7% 76,3% 4,8% 95,2% 25,1% 74,9% Turkish 146 21,2% 78,8% 1,4% 98,6% 17,1% 82,9% Ethnicity Roma 62 6,5% 93,5% 100,0% 1,6% 98,4% Other 21 23,8% 76,2% 4,8% 95,2% 23,8% 76,2% No income 3 33,3% 66,7% 100,0% 100,0% Less than 100 BGN 6 33,3% 66,7% 100,0% 16,7% 83,3% 101-150 BGN 22 13,6% 86,4% 4,5% 95,5% 9,1% 90,9% 151-200 BGN 57 3,5% 96,5% 100,0% 7,0% 93,0% Total household income 201-300 BGN 132 11,4% 88,6% ,8% 99,2% 16,7% 83,3% 301-500 BGN 216 19,0% 81,0% 1,4% 98,6% 23,1% 76,9% More than 500 BGN 499 29,9% 70,1% 4,4% 95,6% 29,1% 70,9% Don't know 118 11,0% 89,0% 4,2% 95,8% 10,2% 89,8% NA 379 26,1% 73,9% 7,7% 92,3% 25,9% 74,1% No income 135 12,6% 87,4% 3,7% 96,3% 16,3% 83,7% Less than 250 BGN 354 13,6% 86,4% ,6% 99,4% 13,8% 86,2% 251-500 BGN 370 24,9% 75,1% 2,7% 97,3% 29,5% 70,5% 501-750 BGN 96 37,5% 62,5% 6,3% 93,8% 28,1% 71,9% Personal monthly income 751-1000 52 44,2% 55,8% 15,4% 84,6% 50,0% 50,0% More than 1000 BGN 29 44,8% 55,2% 10,3% 89,7% 31,0% 69,0% Don't know 37 5,4% 94,6% 100,0% 8,1% 91,9% NA 359 26,2% 73,8% 7,5% 92,5% 24,8% 75,2% I don't use financial services 584 14,4% 85,6% 3,4% 96,6% 14,4% 85,6% One 389 21,3% 78,7% 3,1% 96,9% 22,9% 77,1% Financial services usage Two 242 32,6% 67,4% 2,5% 97,5% 28,1% 71,9% Three and more 217 36,4% 63,6% 10,6% 89,4% 42,9% 57,1% Total 1432 22,7% 77,3% 4,3% 95,7% 23,3% 76,7% 124 What tendencies from the ones given below you follow personally? Changes in the level of Changes of interest rates on public pensions, benefits Price fluctuations for oil, credits Changes in the inflation rate and tax exemptions gold, metals, etc. Yes No Yes No Yes No Yes No Base: Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 36,1% 63,9% 43,9% 56,1% 38,3% 61,7% 20,1% 79,9% Regional center 484 31,8% 68,2% 32,4% 67,6% 34,5% 65,5% 13,4% 86,6% Type of residence Smaller town 276 27,9% 72,1% 26,4% 73,6% 36,2% 63,8% 11,6% 88,4% Village 403 17,6% 82,4% 16,9% 83,1% 25,8% 74,2% 7,4% 92,6% Male 682 28,2% 71,8% 30,8% 69,2% 32,3% 67,7% 16,9% 83,1% Gender Female 750 27,6% 72,4% 27,5% 72,5% 33,9% 66,1% 8,8% 91,2% 18-30 311 28,0% 72,0% 27,3% 72,7% 20,9% 79,1% 18,0% 82,0% 31-40 243 40,3% 59,7% 33,7% 66,3% 33,3% 66,7% 16,0% 84,0% Age 41-50 253 41,1% 58,9% 39,1% 60,9% 37,2% 62,8% 13,8% 86,2% 51-60 257 25,3% 74,7% 30,4% 69,6% 38,9% 61,1% 12,1% 87,9% 60+ 368 12,2% 87,8% 19,6% 80,4% 36,4% 63,6% 5,4% 94,6% Finished bachelor, master or higher 242 42,6% 57,4% 50,4% 49,6% 40,5% 59,5% 18,2% 81,8% degree Highest level of education Finished college 38 42,1% 57,9% 42,1% 57,9% 52,6% 47,4% 31,6% 68,4% achieved Finished secondary school 683 30,9% 69,1% 32,8% 67,2% 36,0% 64,0% 12,7% 87,3% Finished elementary and lower 465 14,8% 85,2% 11,0% 89,0% 23,4% 76,6% 8,0% 92,0% Employee 575 36,2% 63,8% 35,8% 64,2% 35,7% 64,3% 15,3% 84,7% Other status of employed persons 72 25,0% 75,0% 16,7% 83,3% 26,4% 73,6% 12,5% 87,5% Business owner 81 49,4% 50,6% 58,0% 42,0% 50,6% 49,4% 25,9% 74,1% Self-employed person in 29 41,4% 58,6% 44,8% 55,2% 34,5% 65,5% 27,6% 72,4% non-agricultural activities Self-employed person in agricultural 21 33,3% 66,7% 19,0% 81,0% 23,8% 76,2% 23,8% 76,2% activities Family helper 5 100,0% 100,0% 20,0% 80,0% 100,0% Main occupational status Registered as unemployed 69 26,1% 73,9% 20,3% 79,7% 30,4% 69,6% 13,0% 87,0% in the present Unregistered unemployed 74 21,6% 78,4% 18,9% 81,1% 16,2% 83,8% 10,8% 89,2% Retired - due to age 322 12,4% 87,6% 20,5% 79,5% 36,3% 63,7% 3,7% 96,3% Retired - other causes 65 20,0% 80,0% 13,8% 86,2% 43,1% 56,9% 3,1% 96,9% Pupil, student 85 16,5% 83,5% 27,1% 72,9% 9,4% 90,6% 15,3% 84,7% Housewife 22 40,9% 59,1% 27,3% 72,7% 31,8% 68,2% 18,2% 81,8% Person unable to work 2 100,0% 100,0% 100,0% 100,0% Another status of non working 7 42,9% 57,1% 28,6% 71,4% 100,0% 28,6% 71,4% person Bulgarian 1202 30,0% 70,0% 31,4% 68,6% 35,0% 65,0% 12,5% 87,5% Turkish 146 18,5% 81,5% 20,5% 79,5% 29,5% 70,5% 15,1% 84,9% Ethnicity Roma 62 8,1% 91,9% 6,5% 93,5% 8,1% 91,9% 8,1% 91,9% Other 21 23,8% 76,2% 23,8% 76,2% 23,8% 76,2% 19,0% 81,0% No income 3 33,3% 66,7% 100,0% 100,0% 100,0% Less than 100 BGN 6 33,3% 66,7% 33,3% 66,7% 16,7% 83,3% 100,0% 101-150 BGN 22 13,6% 86,4% 13,6% 86,4% 27,3% 72,7% 9,1% 90,9% 151-200 BGN 57 8,8% 91,2% 8,8% 91,2% 21,1% 78,9% 5,3% 94,7% Total household income 201-300 BGN 132 14,4% 85,6% 19,7% 80,3% 33,3% 66,7% 5,3% 94,7% 301-500 BGN 216 23,6% 76,4% 21,3% 78,7% 29,6% 70,4% 9,3% 90,7% More than 500 BGN 499 34,1% 65,9% 38,3% 61,7% 41,9% 58,1% 17,0% 83,0% Don't know 118 16,1% 83,9% 22,9% 77,1% 23,7% 76,3% 14,4% 85,6% NA 379 34,0% 66,0% 30,6% 69,4% 29,0% 71,0% 12,4% 87,6% No income 135 20,0% 80,0% 23,0% 77,0% 13,3% 86,7% 14,1% 85,9% Less than 250 BGN 354 15,0% 85,0% 16,7% 83,3% 30,2% 69,8% 7,3% 92,7% 251-500 BGN 370 32,4% 67,6% 34,3% 65,7% 42,4% 57,6% 14,3% 85,7% 501-750 BGN 96 41,7% 58,3% 42,7% 57,3% 45,8% 54,2% 17,7% 82,3% Personal monthly income 751-1000 52 46,2% 53,8% 53,8% 46,2% 40,4% 59,6% 26,9% 73,1% More than 1000 BGN 29 41,4% 58,6% 44,8% 55,2% 44,8% 55,2% 17,2% 82,8% Don't know 37 13,5% 86,5% 21,6% 78,4% 27,0% 73,0% 13,5% 86,5% NA 359 32,9% 67,1% 30,4% 69,6% 29,0% 71,0% 11,7% 88,3% I don't use financial services 584 14,6% 85,4% 18,5% 81,5% 24,5% 75,5% 8,9% 91,1% One 389 23,9% 76,1% 29,3% 70,7% 34,7% 65,3% 13,1% 86,9% Financial services usage Two 242 37,6% 62,4% 34,3% 65,7% 39,3% 60,7% 15,3% 84,7% Three and more 217 59,9% 40,1% 51,2% 48,8% 46,5% 53,5% 18,9% 81,1% Total 1432 27,9% 72,1% 29,1% 70,9% 33,1% 66,9% 12,6% 87,4% 125 What are the two main sources of information: Bank officers, employees of insurance and Newspapers, management Independent magazines, TV companies, during a financial programs specializing Friends and Specialized personal visit or by consultants or on financial issues acquaintances web sites Advertising phone brokers Base: Row % Row % Row % Row % Row % Row % Sofia 182 41,8% 15,4% 31,3% 17,0% 8,8% 2,7% Regional center 305 55,4% 18,0% 20,3% 10,5% 9,8% 2,0% Type of residence Smaller town 154 61,7% 27,3% 13,0% 7,1% 8,4% Village 175 54,9% 17,7% 4,0% 10,3% 6,3% 1,1% Male 409 51,1% 19,6% 17,4% 11,5% 7,6% 1,5% Gender Female 407 55,8% 18,7% 18,4% 11,1% 9,6% 1,7% 18-30 166 51,8% 19,3% 31,9% 18,1% 7,8% 1,8% 31-40 154 54,5% 14,3% 24,0% 9,1% 7,1% 3,9% Age 41-50 172 52,9% 19,2% 19,2% 12,2% 8,7% ,6% 51-60 154 50,6% 17,5% 11,0% 7,8% 12,3% 60+ 170 57,1% 24,7% 3,5% 8,8% 7,1% 1,8% Finished bachelor, master or higher 182 47,8% 14,3% 41,8% 11,0% 9,3% 2,7% degree Highest level of Finished college 28 60,7% 10,7% 25,0% 10,7% 3,6% education achieved Finished secondary school 432 53,5% 20,8% 13,2% 11,6% 9,7% 1,2% Finished elementary and lower 171 57,9% 21,6% 3,5% 10,5% 5,8% 1,8% Employee 380 53,4% 14,2% 23,4% 10,5% 8,9% 1,6% Other status of employed persons 35 51,4% 34,3% 14,3% 14,3% 11,4% 2,9% Business owner 66 51,5% 16,7% 28,8% 7,6% 10,6% 1,5% Self-employed person in non-agricultural 22 36,4% 31,8% 40,9% 4,5% 18,2% activities Self-employed person in agricultural 9 44,4% 22,2% 11,1% 22,2% activities Main occupational Family helper 1 status in the present Registered as unemployed 36 63,9% 19,4% 11,1% 2,8% 8,3% 2,8% Unregistered unemployed 32 37,5% 25,0% 15,6% 21,9% 9,4% 6,3% Retired - due to age 146 58,9% 25,3% 2,7% 8,9% 6,8% ,7% Retired - other causes 35 60,0% 28,6% 2,9% 8,6% 8,6% Pupil, student 36 52,8% 19,4% 13,9% 25,0% 2,8% Housewife 13 53,8% 23,1% 30,8% 7,7% Another status of non working person 4 25,0% 25,0% 25,0% 50,0% 25,0% Bulgarian 715 54,1% 20,0% 19,9% 11,5% 9,4% 1,5% Turkish 77 53,2% 9,1% 2,6% 9,1% 2,6% 1,3% Ethnicity Roma 11 45,5% 36,4% 9,1% 9,1% 9,1% Other 12 25,0% 16,7% 8,3% 16,7% 8,3% No income 1 100,0% 100,0% Less than 100 BGN 3 33,3% 101-150 BGN 8 50,0% 25,0% 12,5% 12,5% 151-200 BGN 17 47,1% 47,1% 5,9% 17,6% 11,8% Total household 201-300 BGN 58 58,6% 24,1% 1,7% 8,6% 5,2% income 301-500 BGN 110 56,4% 22,7% 8,2% 10,0% 8,2% 1,8% More than 500 BGN 347 53,6% 18,2% 20,2% 11,8% 11,2% 1,7% Don't know 53 54,7% 18,9% 11,3% 9,4% 5,7% 3,8% NA 219 50,7% 15,5% 26,0% 11,9% 6,4% 1,4% No income 61 47,5% 14,8% 14,8% 27,9% 6,6% 3,3% Less than 250 BGN 146 54,8% 33,6% 3,4% 10,3% 7,5% 2,1% 251-500 BGN 249 57,8% 18,5% 11,6% 8,8% 9,6% ,4% Personal monthly 501-750 BGN 77 50,6% 11,7% 23,4% 16,9% 9,1% 2,6% income 751-1000 42 50,0% 14,3% 47,6% 9,5% 9,5% 2,4% More than 1000 BGN 19 31,6% 21,1% 36,8% 10,5% 21,1% Don't know 15 73,3% 26,7% 6,7% 6,7% 6,7% NA 207 51,2% 14,0% 27,5% 9,2% 7,2% 1,4% I don't use financial services 242 51,2% 21,9% 7,0% 10,3% 4,5% 1,7% Financial services One 220 60,9% 21,4% 15,5% 14,5% 6,8% 1,8% usage Two 170 51,2% 19,4% 18,2% 8,2% 11,2% 1,2% Three and more 184 49,5% 12,5% 34,8% 11,4% 13,6% 1,6% Total 816 53,4% 19,1% 17,9% 11,3% 8,6% 1,6% Those who follow at least one of the tendencies 126 Are you aware of the Consumer Protection Commission activity concerning financial services? Yes No Don't know Base: Row % Row % Row % Sofia 269 14,1% 69,5% 16,4% Regional center 484 18,2% 65,9% 15,9% Type of residence Smaller town 276 22,5% 60,5% 17,0% Village 403 13,9% 73,9% 12,2% Male 682 17,9% 65,8% 16,3% Gender Female 750 16,3% 69,6% 14,1% 18-30 311 15,8% 69,1% 15,1% 31-40 243 17,3% 65,0% 17,7% Age 41-50 253 25,3% 62,5% 12,3% 51-60 257 19,5% 66,9% 13,6% 60+ 368 10,6% 72,8% 16,6% Finished bachelor, master or higher 242 22,7% 61,6% 15,7% degree Highest level of education Finished college 38 28,9% 55,3% 15,8% achieved Finished secondary school 683 19,8% 65,0% 15,2% Finished elementary and lower 465 9,2% 76,1% 14,6% Employee 575 23,1% 61,2% 15,7% Other status of employed persons 72 13,9% 68,1% 18,1% Business owner 81 29,6% 54,3% 16,0% Self-employed person in non-agricultural 29 13,8% 69,0% 17,2% activities Self-employed person in agricultural 21 9,5% 81,0% 9,5% activities Family helper 5 80,0% 20,0% Main occupational status in the present Registered as unemployed 69 11,6% 79,7% 8,7% Unregistered unemployed 74 4,1% 75,7% 20,3% Retired - due to age 322 10,2% 73,6% 16,1% Retired - other causes 65 15,4% 72,3% 12,3% Pupil, student 85 10,6% 80,0% 9,4% Housewife 22 22,7% 63,6% 13,6% Person unable to work 2 50,0% 50,0% Another status of non working person 7 28,6% 71,4% Bulgarian 1202 18,6% 65,2% 16,1% Turkish 146 8,2% 84,2% 7,5% Ethnicity Roma 62 12,9% 69,4% 17,7% Other 21 95,2% 4,8% No income 3 66,7% 33,3% Less than 100 BGN 6 83,3% 16,7% 101-150 BGN 22 4,5% 81,8% 13,6% 151-200 BGN 57 7,0% 78,9% 14,0% Total household income 201-300 BGN 132 12,1% 73,5% 14,4% 301-500 BGN 216 10,2% 72,2% 17,6% More than 500 BGN 499 22,0% 65,3% 12,6% Don't know 118 14,4% 72,0% 13,6% NA 379 19,5% 62,5% 17,9% No income 135 10,4% 77,8% 11,9% Less than 250 BGN 354 10,7% 75,1% 14,1% 251-500 BGN 370 17,6% 69,2% 13,2% 501-750 BGN 96 30,2% 53,1% 16,7% Personal monthly income 751-1000 52 25,0% 57,7% 17,3% More than 1000 BGN 29 34,5% 41,4% 24,1% Don't know 37 21,6% 56,8% 21,6% NA 359 18,7% 64,1% 17,3% I don't use financial services 584 14,4% 71,9% 13,7% One 389 16,2% 69,2% 14,7% Financial services usage Two 242 19,4% 62,8% 17,8% Three and more 217 23,0% 59,9% 17,1% 127 Total 1432 17,0% 67,8% 15,2% During the last 12 months, how many visits/personal contacts or through phone did you have with...? representatives of insurance companies / private pension bank officers or bankers fund Once a Once a month or Few times a Few times a month or Few times a Few times a Never less month week Daily Never less month week Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 43,1% 40,5% 13,8% 1,9% ,7% 83,6% 13,4% 2,2% ,7% Regional center 484 50,0% 43,2% 6,2% ,6% 76,9% 21,3% 1,9% Type of residence Smaller town 276 59,1% 34,4% 4,3% 1,8% ,4% 80,4% 17,8% 1,4% ,4% Village 403 71,5% 24,3% 3,7% ,2% ,2% 89,8% 9,7% ,5% Male 682 57,9% 34,8% 6,2% 1,0% ,1% 80,4% 18,5% ,9% ,3% Gender Female 750 55,2% 36,5% 6,9% ,9% ,4% 84,4% 13,5% 2,0% ,1% 18-30 311 57,2% 33,8% 8,4% ,6% 81,0% 17,0% 1,6% ,3% 31-40 243 43,6% 43,2% 10,7% 1,6% ,8% 75,7% 22,6% 1,6% Age 41-50 253 40,7% 48,2% 9,5% 1,2% ,4% 77,5% 20,6% 1,6% ,4% 51-60 257 56,4% 37,0% 5,1% 1,2% ,4% 83,3% 15,2% 1,2% ,4% 60+ 368 75,3% 22,8% 1,4% ,5% 91,0% 7,6% 1,4% Finished bachelor, master or higher 242 33,5% 49,2% 16,1% ,8% ,4% 74,8% 22,3% 2,5% ,4% degree Highest level of Finished college 38 42,1% 42,1% 15,8% 68,4% 26,3% 5,3% education achieved Finished secondary school 683 50,4% 41,9% 6,0% 1,3% ,4% 78,2% 20,1% 1,5% ,3% Finished elementary and lower 465 78,7% 18,9% 1,7% ,6% 94,2% 5,4% ,4% Employee 575 42,6% 46,3% 9,9% ,9% ,3% 76,3% 21,2% 2,1% ,3% Other status of employed persons 72 63,9% 26,4% 5,6% 2,8% 1,4% 88,9% 9,7% 1,4% Business owner 81 25,9% 50,6% 18,5% 4,9% 50,6% 44,4% 4,9% Self-employed person in 29 24,1% 69,0% 6,9% 82,8% 17,2% non-agricultural activities Self-employed person in agricultural 21 61,9% 38,1% 71,4% 28,6% activities Family helper 5 80,0% 20,0% 100,0% Main occupational status Registered as unemployed 69 66,7% 30,4% 1,4% 1,4% 88,4% 11,6% in the present Unregistered unemployed 74 82,4% 14,9% 1,4% 1,4% 95,9% 4,1% Retired - due to age 322 74,5% 24,2% ,9% ,3% 91,3% 8,4% ,3% Retired - other causes 65 76,9% 20,0% 3,1% 93,8% 4,6% 1,5% Pupil, student 85 70,6% 24,7% 4,7% 91,8% 7,1% 1,2% Housewife 22 36,4% 50,0% 13,6% 77,3% 18,2% 4,5% Person unable to work 2 100,0% 100,0% Another status of non working person 7 57,1% 28,6% 14,3% 85,7% 14,3% Bulgarian 1202 53,9% 37,5% 7,2% 1,1% ,3% 80,5% 17,6% 1,7% ,2% Turkish 146 67,1% 29,5% 2,7% ,7% 92,5% 7,5% Ethnicity Roma 62 77,4% 21,0% 1,6% 93,5% 4,8% 1,6% Other 21 71,4% 19,0% 9,5% 90,5% 9,5% No income 3 66,7% 33,3% 100,0% Less than 100 BGN 6 66,7% 33,3% 100,0% 101-150 BGN 22 81,8% 18,2% 95,5% 4,5% 151-200 BGN 57 87,7% 12,3% 96,5% 1,8% 1,8% Total household income 201-300 BGN 132 76,5% 21,2% 2,3% 93,2% 6,8% 301-500 BGN 216 66,7% 30,1% 1,9% ,9% ,5% 92,6% 6,5% ,9% More than 500 BGN 499 44,5% 45,7% 7,6% 1,8% ,4% 79,4% 18,8% 1,6% ,2% Don't know 118 66,9% 27,1% 5,9% 82,2% 15,3% 2,5% NA 379 49,9% 38,0% 11,1% ,8% ,3% 73,9% 23,7% 1,8% ,5% No income 135 78,5% 17,0% 3,7% ,7% 94,8% 4,4% ,7% Less than 250 BGN 354 74,0% 23,2% 2,0% ,8% 92,1% 7,1% ,8% 251-500 BGN 370 49,5% 43,5% 6,2% ,5% ,3% 81,4% 17,3% 1,1% ,3% 501-750 BGN 96 35,4% 55,2% 7,3% 2,1% 67,7% 27,1% 5,2% Personal monthly income 751-1000 52 23,1% 51,9% 23,1% 1,9% 86,5% 13,5% More than 1000 BGN 29 41,4% 41,4% 6,9% 6,9% 3,4% 69,0% 31,0% Don't know 37 51,4% 43,2% 5,4% 70,3% 24,3% 5,4% NA 359 50,4% 38,2% 10,0% ,8% ,6% 75,2% 22,6% 1,7% ,6% I don't use financial services 584 81,3% 14,9% 2,9% ,9% 93,5% 5,7% ,5% ,3% One 389 53,5% 39,1% 6,2% 1,0% ,3% 81,0% 18,0% 1,0% Financial services usage Two 242 36,0% 57,4% 6,2% ,4% 78,5% 18,6% 2,9% Three and more 217 18,0% 61,3% 17,5% 2,3% ,9% 59,9% 36,4% 3,2% ,5% Total 1432 56,5% 35,7% 6,6% 1,0% ,3% 82,5% 15,9% 1,5% ,2% 128 During the last 12 months, how many visits/personal contacts or through phone did you have with...? representatives of securities companies (for share deals) independent financial advisers or brokers Once a Once a month or Few times Few times month or Few times Few times Never less a month a week Never less a month a week Base: Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 96,3% 2,6% 1,1% 92,9% 4,8% 1,9% ,4% Regional center 484 95,9% 3,5% ,4% ,2% 96,1% 2,9% ,8% ,2% Type of residence Smaller town 276 97,8% 1,1% 1,1% 97,1% 2,5% ,4% Village 403 99,5% ,2% ,2% 98,8% 1,2% Male 682 96,9% 2,2% ,7% ,1% 96,2% 2,9% ,7% ,1% Gender Female 750 97,7% 1,7% ,5% 96,7% 2,5% ,7% ,1% 18-30 311 95,5% 3,9% ,3% ,3% 93,9% 4,5% 1,3% ,3% 31-40 243 96,3% 2,5% 1,2% 95,1% 4,1% ,8% Age 41-50 253 96,0% 2,8% 1,2% 95,7% 3,2% ,8% ,4% 51-60 257 99,2% ,4% ,4% 97,7% 2,3% 60+ 368 99,2% ,5% ,3% 99,2% ,3% ,5% Finished bachelor, master or higher 242 93,8% 5,8% ,4% 93,0% 5,8% 1,2% degree Highest level of education Finished college 38 94,7% 2,6% 2,6% 92,1% 2,6% 5,3% achieved Finished secondary school 683 97,5% 1,6% ,9% 96,5% 2,8% ,6% ,1% Finished elementary and lower 465 99,1% ,4% ,2% ,2% 98,9% ,6% ,2% ,2% Employee 575 97,0% 1,9% 1,0% 95,8% 3,7% ,5% Other status of employed persons 72 94,4% 4,2% 1,4% 94,4% 2,8% 2,8% Business owner 81 90,1% 8,6% 1,2% 84,0% 11,1% 3,7% 1,2% Self-employed person in 29 100,0% 96,6% 3,4% non-agricultural activities Self-employed person in agricultural 21 100,0% 100,0% activities Family helper 5 100,0% 100,0% Main occupational status in the present Registered as unemployed 69 97,1% 2,9% 97,1% 2,9% Unregistered unemployed 74 100,0% 98,6% 1,4% Retired - due to age 322 99,7% ,3% 99,7% ,3% Retired - other causes 65 100,0% 100,0% Pupil, student 85 97,6% 1,2% 1,2% 96,5% 2,4% 1,2% Housewife 22 90,9% 9,1% 90,9% 4,5% 4,5% Person unable to work 2 50,0% 50,0% 100,0% Another status of non working person 7 85,7% 14,3% 100,0% Bulgarian 1202 97,0% 2,3% ,6% ,1% 95,9% 3,2% ,7% ,2% Turkish 146 100,0% 100,0% Ethnicity Roma 62 98,4% 1,6% 98,4% 1,6% Other 21 95,2% 4,8% 95,2% 4,8% No income 3 100,0% 100,0% Less than 100 BGN 6 100,0% 100,0% 101-150 BGN 22 100,0% 90,9% 9,1% 151-200 BGN 57 100,0% 100,0% Total household income 201-300 BGN 132 100,0% 100,0% 301-500 BGN 216 99,1% ,9% 97,7% 1,9% ,5% More than 500 BGN 499 96,2% 3,0% ,8% 95,6% 3,4% ,8% ,2% Don't know 118 95,8% 2,5% ,8% ,8% 95,8% 2,5% ,8% ,8% NA 379 96,8% 2,1% 1,1% 95,5% 3,4% 1,1% No income 135 97,0% 1,5% ,7% ,7% 98,5% ,7% ,7% Less than 250 BGN 354 98,6% ,8% ,6% 98,0% 1,1% ,8% 251-500 BGN 370 98,4% 1,6% 97,8% 2,2% 501-750 BGN 96 96,9% 2,1% 1,0% 90,6% 9,4% Personal monthly income 751-1000 52 92,3% 5,8% 1,9% 94,2% 3,8% 1,9% More than 1000 BGN 29 89,7% 10,3% 86,2% 6,9% 3,4% 3,4% Don't know 37 97,3% 2,7% 97,3% 2,7% NA 359 96,7% 2,5% ,8% 95,3% 3,6% 1,1% I don't use financial services 584 98,3% 1,0% ,5% ,2% 98,3% 1,2% ,3% ,2% One 389 96,9% 2,1% 1,0% 97,2% 1,5% 1,0% ,3% Financial services usage Two 242 98,3% 1,7% 96,7% 2,9% ,4% Three and more 217 94,5% 4,6% ,9% 89,9% 8,8% 1,4% Total 1432 97,3% 2,0% ,6% ,1% 96,4% 2,7% ,7% ,1% 129 During the last 12 months, how many visits/personal contacts or through phone did you have with...? representatives of a non-banking financial institution , such as Jetcredit or T.B. I. Credit pawn houses personnel Once a Once a month or Few times a Few times a month or Few times a Few times a Never less month week Daily Never less month week Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 86,2% 11,2% 2,6% 91,8% 4,8% 3,0% ,4% Regional center 484 82,6% 13,4% 3,3% ,4% ,2% 96,1% 2,9% ,8% ,2% Type of residence Smaller town 276 89,9% 8,7% ,7% ,4% ,4% 96,0% 3,6% ,4% Village 403 95,3% 4,5% ,2% 98,3% 1,7% Male 682 88,7% 9,8% 1,3% ,1% 95,2% 3,7% 1,0% ,1% Gender Female 750 87,9% 9,3% 2,3% ,4% ,1% 96,5% 2,5% ,8% ,1% 18-30 311 84,6% 12,5% 2,3% ,3% ,3% 92,3% 6,4% 1,0% ,3% 31-40 243 80,7% 16,0% 2,9% ,4% 94,7% 3,7% 1,6% Age 41-50 253 82,6% 15,0% 2,4% 96,0% 2,0% 1,6% ,4% 51-60 257 92,6% 4,7% 1,9% ,8% 96,1% 3,1% ,8% 60+ 368 97,3% 2,4% ,3% 99,5% ,5% Finished bachelor, master or higher 242 84,7% 12,8% 2,1% ,4% 96,7% 2,1% 1,2% degree Highest level of education Finished college 38 78,9% 15,8% 5,3% 100,0% achieved Finished secondary school 683 86,5% 10,7% 2,5% ,3% 95,8% 3,2% ,9% ,1% Finished elementary and lower 465 93,5% 5,6% ,4% ,2% ,2% 95,5% 3,4% ,9% ,2% Employee 575 83,3% 13,7% 2,8% ,2% 95,3% 3,8% ,9% Other status of employed persons 72 81,9% 16,7% 1,4% 86,1% 12,5% 1,4% Business owner 81 84,0% 14,8% 1,2% 92,6% 4,9% 1,2% 1,2% Self-employed person in non-agricultural 29 79,3% 6,9% 13,8% 93,1% 3,4% 3,4% activities Self-employed person in agricultural 21 100,0% 100,0% activities Family helper 5 100,0% 100,0% Main occupational status in the present Registered as unemployed 69 89,9% 8,7% 1,4% 97,1% 1,4% 1,4% Unregistered unemployed 74 91,9% 8,1% 95,9% 4,1% Retired - due to age 322 97,5% 2,2% ,3% 99,4% ,6% Retired - other causes 65 92,3% 4,6% 1,5% 1,5% 100,0% Pupil, student 85 89,4% 7,1% 2,4% 1,2% 91,8% 5,9% 1,2% 1,2% Housewife 22 81,8% 13,6% 4,5% 100,0% Person unable to work 2 100,0% 100,0% Another status of non working person 7 85,7% 14,3% 100,0% Bulgarian 1202 87,4% 10,1% 2,1% ,2% ,2% 95,9% 2,9% 1,0% ,2% Turkish 146 92,5% 6,2% ,7% ,7% 96,6% 3,4% Ethnicity Roma 62 90,3% 9,7% 91,9% 6,5% 1,6% Other 21 100,0% 100,0% No income 3 100,0% 100,0% Less than 100 BGN 6 100,0% 100,0% 101-150 BGN 22 90,9% 9,1% 90,9% 4,5% 4,5% 151-200 BGN 57 98,2% 1,8% 100,0% Total household income 201-300 BGN 132 95,5% 3,8% ,8% 98,5% 1,5% 301-500 BGN 216 94,4% 4,6% ,5% ,5% 98,1% 1,9% More than 500 BGN 499 84,4% 12,8% 2,6% ,2% 95,2% 3,6% 1,0% ,2% Don't know 118 81,4% 15,3% 2,5% ,8% 89,8% 7,6% 1,7% ,8% NA 379 87,6% 10,0% 2,1% ,3% 96,0% 2,6% 1,3% No income 135 91,9% 5,9% 1,5% ,7% 95,6% 1,5% 2,2% ,7% Less than 250 BGN 354 93,5% 5,4% ,6% ,6% 98,3% 1,4% ,3% 251-500 BGN 370 88,1% 9,5% 2,2% ,3% 95,7% 3,8% ,5% 501-750 BGN 96 77,1% 19,8% 3,1% 94,8% 4,2% 1,0% Personal monthly income 751-1000 52 78,8% 19,2% 1,9% 92,3% 3,8% 3,8% More than 1000 BGN 29 86,2% 13,8% 93,1% 3,4% 3,4% Don't know 37 70,3% 21,6% 5,4% 2,7% 75,7% 18,9% 5,4% NA 359 88,3% 9,5% 2,2% 96,9% 2,5% ,6% I don't use financial services 584 95,4% 3,8% ,7% ,2% 97,1% 1,5% 1,2% ,2% One 389 88,4% 8,7% 1,8% ,8% ,3% 96,1% 2,6% 1,0% ,3% Financial services usage Two 242 86,4% 11,6% 2,1% 94,6% 5,0% ,4% Three and more 217 71,0% 24,4% 4,6% 93,5% 6,0% ,5% Total 1432 88,3% 9,6% 1,8% ,2% ,1% 95,9% 3,1% ,9% ,1% 130 When you meet your relatives, colleagues, friends, how often do you talk about financial institutions and services? Once a month or Few times a Few times a Never less month week Daily Base: Row % Row % Row % Row % Row % Sofia 269 19,3% 43,1% 19,3% 10,0% 8,2% Regional center 484 26,0% 49,6% 15,3% 7,2% 1,9% Type of residence Smaller town 276 42,8% 42,0% 10,9% 1,4% 2,9% Village 403 50,1% 36,7% 8,2% 2,7% 2,2% Male 682 34,2% 43,4% 13,3% 5,9% 3,2% Gender Female 750 35,3% 43,2% 13,1% 4,9% 3,5% 18-30 311 41,2% 37,6% 13,2% 5,8% 2,3% 31-40 243 23,5% 47,3% 18,5% 7,4% 3,3% Age 41-50 253 22,9% 51,0% 15,8% 7,1% 3,2% 51-60 257 36,6% 41,6% 13,2% 3,9% 4,7% 60+ 368 43,8% 41,3% 7,9% 3,5% 3,5% Finished bachelor, master or higher 242 21,1% 49,6% 17,4% 8,3% 3,7% degree Highest level of Finished college 38 23,7% 28,9% 31,6% 10,5% 5,3% education achieved Finished secondary school 683 27,5% 49,0% 14,5% 5,9% 3,1% Finished elementary and lower 465 53,5% 32,5% 7,7% 2,8% 3,4% Employee 575 26,3% 50,4% 16,2% 4,5% 2,6% Other status of employed persons 72 47,2% 34,7% 11,1% 4,2% 2,8% Business owner 81 21,0% 40,7% 19,8% 12,3% 6,2% Self-employed person in 29 6,9% 44,8% 31,0% 13,8% 3,4% non-agricultural activities Self-employed person in agricultural 21 38,1% 57,1% 4,8% activities Family helper 5 80,0% 20,0% Main occupational status in the present Registered as unemployed 69 40,6% 37,7% 7,2% 8,7% 5,8% Unregistered unemployed 74 37,8% 40,5% 8,1% 9,5% 4,1% Retired - due to age 322 43,5% 41,0% 7,8% 4,0% 3,7% Retired - other causes 65 46,2% 32,3% 15,4% 3,1% 3,1% Pupil, student 85 52,9% 30,6% 10,6% 4,7% 1,2% Housewife 22 18,2% 45,5% 31,8% 4,5% Person unable to work 2 100,0% Another status of non working person 7 42,9% 14,3% 14,3% 28,6% Bulgarian 1202 32,2% 44,6% 14,0% 5,7% 3,5% Turkish 146 43,8% 40,4% 8,2% 5,5% 2,1% Ethnicity Roma 62 56,5% 29,0% 12,9% 1,6% Other 21 57,1% 33,3% 9,5% No income 3 33,3% 66,7% Less than 100 BGN 6 16,7% 66,7% 16,7% 101-150 BGN 22 45,5% 22,7% 9,1% 4,5% 18,2% 151-200 BGN 57 52,6% 31,6% 10,5% 3,5% 1,8% Total household 201-300 BGN 132 47,7% 42,4% 6,1% 3,8% income 301-500 BGN 216 36,1% 41,7% 14,8% 3,7% 3,7% More than 500 BGN 499 27,3% 42,9% 17,2% 7,6% 5,0% Don't know 118 51,7% 34,7% 5,1% 6,8% 1,7% NA 379 31,4% 50,4% 12,7% 4,7% ,8% No income 135 51,1% 28,1% 8,1% 7,4% 5,2% Less than 250 BGN 354 45,5% 36,2% 12,7% 3,4% 2,3% 251-500 BGN 370 28,9% 47,8% 12,7% 5,1% 5,4% Personal monthly 501-750 BGN 96 20,8% 49,0% 19,8% 7,3% 3,1% income 751-1000 52 15,4% 32,7% 30,8% 13,5% 7,7% More than 1000 BGN 29 20,7% 44,8% 17,2% 10,3% 6,9% Don't know 37 43,2% 51,4% 5,4% NA 359 30,9% 50,4% 12,3% 5,3% 1,1% I don't use financial services 584 53,8% 31,3% 9,1% 3,9% 1,9% Financial services One 389 27,8% 49,1% 13,6% 5,7% 3,9% usage Two 242 19,8% 54,5% 15,7% 5,0% 5,0% Three and more 217 12,9% 52,5% 20,7% 9,2% 4,6% Total 1432 34,8% 43,3% 13,2% 5,4% 3,4% 131 In the last five years, how often do you compare the terms and conditions for provision of financial services by various companies before you buy such a service? I do not use any financial Never Rarely Sometimes Always service Don't know Base: Row % Row % Row % Row % Row % Row % Sofia 269 23,8% 24,5% 16,0% 7,4% 10,4% 17,8% Regional center 484 16,7% 21,1% 13,8% 9,7% 15,5% 23,1% Type of residence Smaller town 276 13,0% 19,6% 12,7% 3,3% 27,9% 23,6% Village 403 11,2% 11,7% 8,4% 3,5% 39,2% 26,1% Male 682 16,3% 18,5% 13,5% 6,9% 23,9% 21,0% Gender Female 750 15,3% 19,1% 11,6% 5,7% 23,3% 24,9% 18-30 311 19,9% 15,4% 10,6% 7,7% 20,9% 25,4% 31-40 243 14,0% 24,3% 21,0% 6,2% 16,5% 18,1% Age 41-50 253 12,6% 25,7% 15,8% 10,3% 16,2% 19,4% 51-60 257 17,1% 23,0% 12,1% 6,6% 17,9% 23,3% 60+ 368 14,7% 10,3% 6,5% 2,2% 39,7% 26,6% Finished bachelor, master or higher 242 16,1% 27,3% 19,4% 13,2% 12,4% 11,6% degree Highest level of Finished college 38 13,2% 28,9% 21,1% 7,9% 18,4% 10,5% education achieved Finished secondary school 683 17,1% 22,8% 14,3% 6,3% 16,1% 23,3% Finished elementary and lower 465 14,0% 7,5% 5,6% 2,4% 40,9% 29,7% Employee 575 16,0% 26,1% 15,8% 9,0% 13,0% 20,0% Other status of employed persons 72 27,8% 11,1% 8,3% 4,2% 22,2% 26,4% Business owner 81 2,5% 37,0% 22,2% 14,8% 8,6% 14,8% Self-employed person in non-agricultural 29 3,4% 27,6% 34,5% 13,8% 10,3% 10,3% activities Self-employed person in agricultural 21 23,8% 4,8% 14,3% 4,8% 19,0% 33,3% activities Family helper 5 20,0% 80,0% Main occupational status in the present Registered as unemployed 69 7,2% 10,1% 8,7% 4,3% 39,1% 30,4% Unregistered unemployed 74 10,8% 13,5% 5,4% 4,1% 37,8% 28,4% Retired - due to age 322 16,8% 9,6% 6,8% 1,6% 39,4% 25,8% Retired - other causes 65 10,8% 7,7% 13,8% 4,6% 32,3% 30,8% Pupil, student 85 28,2% 15,3% 4,7% 2,4% 28,2% 21,2% Housewife 22 27,3% 22,7% 9,1% 4,5% 13,6% 22,7% Person unable to work 2 50,0% 50,0% Another status of non working person 7 14,3% 28,6% 14,3% 14,3% 28,6% Bulgarian 1202 15,7% 19,9% 13,4% 6,8% 22,4% 21,8% Turkish 146 13,0% 13,7% 8,9% 5,5% 28,1% 30,8% Ethnicity Roma 62 21,0% 9,7% 4,8% 32,3% 32,3% Other 21 23,8% 19,0% 4,8% 38,1% 14,3% No income 3 100,0% Less than 100 BGN 6 16,7% 50,0% 33,3% 101-150 BGN 22 4,5% 4,5% 9,1% 40,9% 40,9% 151-200 BGN 57 10,5% 3,5% 7,0% 3,5% 47,4% 28,1% Total household income 201-300 BGN 132 23,5% 8,3% 4,5% 2,3% 33,3% 28,0% 301-500 BGN 216 10,6% 12,5% 8,3% 4,6% 35,6% 28,2% More than 500 BGN 499 15,2% 24,8% 17,6% 9,6% 12,8% 19,8% Don't know 118 21,2% 14,4% 8,5% 3,4% 28,0% 24,6% NA 379 16,9% 23,0% 13,5% 5,8% 21,4% 19,5% No income 135 22,2% 14,1% 5,2% 1,5% 31,9% 25,2% Less than 250 BGN 354 10,5% 10,2% 7,3% 2,5% 40,1% 29,4% 251-500 BGN 370 19,7% 21,9% 13,5% 7,6% 14,1% 23,2% Personal monthly 501-750 BGN 96 12,5% 31,3% 18,8% 14,6% 13,5% 9,4% income 751-1000 52 7,7% 19,2% 34,6% 13,5% 1,9% 23,1% More than 1000 BGN 29 3,4% 27,6% 24,1% 10,3% 6,9% 27,6% Don't know 37 29,7% 24,3% 8,1% 2,7% 13,5% 21,6% NA 359 16,2% 21,2% 13,9% 7,2% 22,3% 19,2% I don't use financial services 584 12,0% 7,2% 5,0% 1,5% 56,3% 18,0% One 389 22,4% 23,9% 9,8% 6,2% 2,3% 35,5% Financial services usage Two 242 18,2% 26,4% 20,7% 7,9% 26,9% Three and more 217 11,5% 32,3% 28,6% 17,5% 10,1% Total 1432 15,8% 18,8% 12,5% 6,3% 23,6% 23,0% 132 In the last five years, what sources of information do you pay attention to when choosing a company to buy a service from? Recommend Information Education ations of Consultants materials of programs Analytical independent working for Specialized Personal Advice of financial on the radio materials financial providers of a information meetings at friends and companies on Advertisem Internet and published in consultants/b Employer's required center/ call I don't use the financial Don't know relatives their tariff ents resources television mass media rokers advice service center no sources institution Other Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 20,4% 40,1% 31,2% 21,2% 27,5% 10,0% 7,1% 4,8% 2,6% 4,1% 2,6% ,4% ,4% Regional center 484 31,4% 31,8% 29,5% 16,1% 21,1% 6,0% 4,5% 3,5% 3,9% 1,2% ,8% 1,2% ,4% ,2% Type of residence Smaller town 276 37,7% 30,8% 27,2% 19,9% 12,0% 5,8% 2,5% 2,9% 1,8% 2,5% ,7% ,7% ,7% ,4% Village 403 52,1% 27,3% 12,7% 13,4% 3,0% 5,7% 1,2% 1,2% 1,5% ,7% 1,0% 1,0% Male 682 36,5% 32,1% 25,7% 17,4% 17,3% 6,0% 4,7% 2,9% 2,6% 1,5% ,9% 1,2% ,6% Gender Female 750 36,3% 31,7% 23,7% 16,7% 13,7% 7,2% 2,8% 3,1% 2,5% 2,3% 1,5% ,7% ,4% 18-30 311 39,5% 26,0% 20,9% 17,0% 24,8% 5,5% 3,9% 2,3% 2,9% 1,3% 2,9% 1,3% ,3% 31-40 243 21,0% 37,4% 30,9% 17,7% 21,8% 5,8% 3,7% 2,1% 3,7% 2,9% ,8% 1,6% ,4% ,4% Age 41-50 253 19,8% 37,9% 36,0% 22,5% 20,9% 5,9% 4,3% 5,1% 3,6% 2,0% 2,0% ,8% ,4% 51-60 257 35,0% 37,0% 26,5% 16,7% 11,7% 7,8% 4,7% 3,1% 3,5% 3,1% ,8% ,4% 60+ 368 56,3% 25,5% 14,7% 13,0% 2,2% 7,9% 2,4% 2,7% ,3% ,8% ,3% ,8% Finished bachelor, master or higher 242 14,5% 39,3% 38,4% 16,9% 43,0% 7,0% 7,9% 5,0% 2,9% 4,5% 2,5% ,4% ,4% degree Highest level of Finished college 38 26,3% 34,2% 36,8% 13,2% 26,3% 5,3% 7,9% 5,3% 2,6% 5,3% education achieved Finished secondary school 683 29,4% 36,7% 27,7% 17,7% 14,1% 6,9% 4,2% 3,5% 3,8% 1,8% 1,5% ,9% ,6% ,1% Finished elementary and lower 465 59,1% 20,6% 12,0% 16,3% 2,2% 5,8% ,4% 1,1% ,6% ,4% ,2% 1,1% ,2% Employee 575 20,2% 37,9% 33,7% 19,5% 22,8% 7,1% 5,9% 3,1% 5,7% 2,8% 1,6% ,9% ,3% Other status of employed persons 72 41,7% 37,5% 12,5% 18,1% 6,9% 4,2% 1,4% 1,4% 1,4% 1,4% 2,8% Business owner 81 12,3% 33,3% 43,2% 19,8% 33,3% 6,2% 7,4% 9,9% 6,2% 2,5% 1,2% 2,5% Self-employed person in non-agricultural 29 6,9% 58,6% 55,2% 24,1% 37,9% 3,4% 6,9% 3,4% 3,4% 3,4% activities Self-employed person in agricultural 21 33,3% 38,1% 19,0% 28,6% 9,5% 14,3% 4,8% 4,8% 4,8% activities Family helper 5 40,0% 20,0% 20,0% 20,0% 20,0% Main occupational status in the present Registered as unemployed 69 53,6% 20,3% 18,8% 14,5% 2,9% 2,9% 1,4% 4,3% 2,9% 1,4% Unregistered unemployed 74 51,4% 24,3% 16,2% 10,8% 9,5% 6,8% 1,4% 1,4% 1,4% 1,4% Retired - due to age 322 57,5% 25,5% 14,0% 13,0% 2,2% 8,1% 2,2% 1,9% ,3% ,9% Retired - other causes 65 56,9% 24,6% 10,8% 10,8% 4,6% 3,1% 1,5% 1,5% 1,5% Pupil, student 85 50,6% 24,7% 11,8% 17,6% 22,4% 8,2% 2,4% 1,2% 1,2% 1,2% 2,4% Housewife 22 40,9% 27,3% 22,7% 18,2% 27,3% 9,1% 4,5% Person unable to work 2 50,0% 50,0% Another status of non working person 7 42,9% 14,3% 14,3% 28,6% 14,3% Bulgarian 1202 33,3% 32,6% 27,7% 17,3% 18,2% 6,7% 4,2% 3,4% 2,7% 2,1% 1,3% 1,1% ,3% ,2% Turkish 146 47,3% 30,1% 8,2% 19,2% 7,5% 1,4% 1,4% 3,4% 1,4% ,7% Ethnicity Roma 62 67,7% 24,2% 6,5% 12,9% 1,6% 1,6% Other 21 47,6% 23,8% 19,0% 9,5% 9,5% 4,8% No income 3 33,3% 33,3% 66,7% 33,3% Less than 100 BGN 6 16,7% 66,7% 16,7% 16,7% 16,7% 101-150 BGN 22 50,0% 22,7% 4,5% 22,7% 4,5% 9,1% 4,5% 151-200 BGN 57 66,7% 21,1% 5,3% 12,3% 3,5% 1,8% 1,8% Total household income 201-300 BGN 132 62,9% 18,9% 14,4% 13,6% 1,5% 1,5% 3,0% ,8% ,8% ,8% 301-500 BGN 216 46,3% 31,0% 14,8% 14,8% 4,6% 4,6% 2,3% 3,7% 2,8% ,9% 1,4% 1,9% More than 500 BGN 499 23,4% 38,5% 32,5% 18,8% 20,8% 8,2% 5,8% 3,4% 3,0% 2,6% 1,4% 1,4% ,2% ,2% Don't know 118 50,0% 21,2% 20,3% 12,7% 11,0% 2,5% 1,7% 3,4% 1,7% ,8% 1,7% ,8% NA 379 29,3% 33,2% 29,0% 19,0% 23,7% 9,0% 3,4% 3,2% 3,4% 3,2% 1,3% ,3% No income 135 52,6% 22,2% 12,6% 18,5% 12,6% 7,4% 2,2% 2,2% 1,5% 1,5% 1,5% Less than 250 BGN 354 55,9% 26,0% 11,0% 14,7% 2,3% 5,1% 2,0% 1,7% ,6% ,6% 1,1% ,3% ,3% 251-500 BGN 370 30,0% 38,9% 28,9% 19,7% 10,8% 6,2% 4,3% 1,9% 4,1% ,5% 1,4% 1,1% ,3% ,5% 501-750 BGN 96 16,7% 39,6% 38,5% 14,6% 30,2% 9,4% 6,3% 5,2% 4,2% 3,1% 2,1% 2,1% Personal monthly income 751-1000 52 9,6% 36,5% 53,8% 17,3% 53,8% 13,5% 11,5% 1,9% 1,9% 7,7% 1,9% 1,9% More than 1000 BGN 29 3,4% 48,3% 31,0% 13,8% 48,3% 3,4% 6,9% 10,3% 10,3% 3,4% Don't know 37 43,2% 10,8% 27,0% 8,1% 13,5% 2,7% 8,1% 2,7% 2,7% NA 359 28,7% 32,3% 29,5% 17,8% 22,3% 7,2% 3,6% 4,2% 3,6% 3,3% 1,7% ,3% I don't use financial services 584 57,5% 20,4% 10,6% 12,5% 5,5% 7,5% 1,5% 1,9% 2,1% ,7% ,5% 1,2% ,2% One 389 32,1% 31,4% 27,0% 21,3% 13,6% 4,4% 3,1% 2,8% 1,0% 1,8% 1,0% 1,0% ,3% Financial services usage Two 242 18,6% 51,2% 33,5% 20,2% 17,4% 7,4% 5,0% 5,0% 5,8% 1,7% 1,2% ,4% ,4% Three and more 217 6,9% 42,4% 48,4% 18,0% 43,3% 7,4% 9,2% 4,1% 3,2% 5,5% 3,2% ,5% 1,4% ,5% Total 1432 36,4% 31,9% 24,7% 17,0% 15,4% 6,6% 3,7% 3,0% 2,6% 1,9% 1,2% ,9% ,3% ,2% How would you prefer to receive information on financial matters? Recommend Information Education ations of Consultants materials of programs Analytical independent Specialized working for Personal financial Advice of on the radio materials financial information providers of a meetings at companies on friends and Internet Advertisem and published in consultants/b center/ call required Employer's the financial I don't use their tariff relatives resources Don't know ents television mass media rokers center service advice Other institution no sources Post ads Base: Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Row % Sofia 269 39,8% 33,8% 30,1% 14,1% 21,2% 19,7% 11,9% 5,9% 10,8% 5,9% 2,6% ,4% ,4% Regional center 484 37,4% 26,9% 29,8% 13,4% 16,3% 14,7% 5,2% 6,4% 6,2% 5,8% 2,5% ,4% ,4% Type of residence Smaller town 276 29,3% 24,6% 16,7% 21,4% 19,9% 18,8% 4,0% 8,0% 3,3% 5,1% 1,4% ,4% Village 403 18,6% 29,5% 6,9% 31,3% 17,4% 16,4% 4,0% 3,5% 1,0% 3,2% 1,5% ,2% ,2% Male 682 32,8% 27,4% 22,4% 19,2% 18,8% 17,6% 6,3% 6,5% 5,3% 5,6% 1,6% ,3% ,1% ,1% Gender Female 750 29,3% 29,5% 19,5% 20,9% 17,7% 16,3% 5,5% 5,2% 4,8% 4,4% 2,4% ,4% ,1% ,1% 18-30 311 30,2% 24,1% 37,9% 16,7% 19,6% 12,9% 6,4% 5,8% 8,7% 4,5% 1,6% 31-40 243 34,2% 26,7% 28,0% 11,1% 17,7% 15,2% 7,4% 4,1% 4,9% 4,5% 4,1% ,8% ,4% Age 41-50 253 42,3% 30,0% 24,9% 10,7% 22,9% 15,8% 3,2% 7,5% 6,3% 5,9% 2,0% ,4% ,4% 51-60 257 30,0% 31,9% 12,8% 19,5% 16,3% 23,0% 10,1% 8,2% 4,7% 8,2% 1,9% ,4% ,4% ,4% 60+ 368 22,6% 29,9% 4,6% 35,9% 15,5% 17,9% 3,3% 4,1% 1,4% 2,7% 1,1% ,3% Finished bachelor, master or higher 242 40,9% 26,0% 50,4% 6,6% 14,9% 17,8% 11,6% 5,8% 9,5% 6,6% ,8% ,4% degree Highest level of Finished college 38 36,8% 36,8% 23,7% 10,5% 15,8% 10,5% 18,4% 7,9% 10,5% 10,5% education achieved Finished secondary school 683 34,7% 30,0% 20,6% 14,8% 19,6% 17,6% 5,9% 8,2% 5,3% 6,0% 3,2% ,3% ,1% Finished elementary and lower 465 20,0% 26,7% 5,6% 35,7% 18,3% 15,9% 1,7% 1,9% 1,7% 2,2% 1,1% ,6% ,2% ,2% Employee 575 37,7% 28,9% 29,0% 9,4% 19,5% 18,8% 7,3% 7,5% 5,4% 6,8% 3,5% ,2% ,2% Other status of employed persons 72 15,3% 31,9% 8,3% 27,8% 20,8% 12,5% 4,2% 4,2% 5,6% 4,2% 1,4% 1,4% 1,4% Business owner 81 44,4% 19,8% 43,2% 8,6% 18,5% 11,1% 8,6% 14,8% 7,4% 4,9% 1,2% Self-employed person in 29 58,6% 44,8% 37,9% 31,0% 20,7% 10,3% 6,9% 17,2% 6,9% non-agricultural activities Self-employed person in agricultural 21 33,3% 33,3% 9,5% 28,6% 19,0% 14,3% 4,8% activities Family helper 5 40,0% 20,0% 20,0% 20,0% Main occupational status in the present Registered as unemployed 69 26,1% 30,4% 5,8% 21,7% 13,0% 13,0% 2,9% 4,3% 1,4% 10,1% Unregistered unemployed 74 18,9% 24,3% 10,8% 33,8% 18,9% 18,9% 5,4% 6,8% 5,4% 2,7% Retired - due to age 322 21,4% 28,9% 3,7% 38,8% 14,6% 18,6% 3,4% 2,8% 1,2% 1,9% 1,2% ,3% Retired - other causes 65 26,2% 32,3% 7,7% 24,6% 16,9% 13,8% 4,6% 4,6% 6,2% 3,1% 3,1% Pupil, student 85 30,6% 22,4% 48,2% 15,3% 20,0% 11,8% 5,9% 2,4% 12,9% 5,9% 1,2% Housewife 22 27,3% 27,3% 27,3% 18,2% 27,3% 13,6% 9,1% 4,5% 9,1% 13,6% 4,5% Person unable to work 2 50,0% 50,0% Another status of non working person 7 28,6% 57,1% 28,6% 14,3% 28,6% 14,3% Bulgarian 1202 34,3% 29,1% 23,8% 17,9% 18,5% 15,9% 6,4% 6,5% 5,8% 5,5% 2,2% ,2% ,2% ,1% Turkish 146 14,4% 28,1% 4,8% 26,0% 16,4% 26,7% 4,1% 2,7% 2,7% 1,4% 1,4% ,7% Ethnicity Roma 62 9,7% 17,7% 4,8% 46,8% 21,0% 11,3% 1,6% Other 21 19,0% 28,6% 14,3% 28,6% 9,5% 23,8% 4,8% 4,8% 9,5% No income 3 66,7% 33,3% 33,3% 33,3% Less than 100 BGN 6 33,3% 50,0% 16,7% 16,7% 33,3% 16,7% 101-150 BGN 22 22,7% 22,7% 9,1% 31,8% 13,6% 13,6% 4,5% 151-200 BGN 57 8,8% 35,1% 1,8% 42,1% 19,3% 14,0% 1,8% 1,8% 3,5% Total household income 201-300 BGN 132 23,5% 27,3% 4,5% 40,9% 12,1% 12,1% 3,0% 2,3% 2,3% ,8% 301-500 BGN 216 21,3% 32,9% 9,7% 26,9% 13,0% 18,5% 4,6% 6,5% 3,7% 3,2% 3,2% ,5% More than 500 BGN 499 36,9% 28,3% 25,9% 11,4% 20,4% 19,4% 7,2% 7,6% 6,6% 5,8% 1,8% ,4% ,2% Don't know 118 29,7% 22,9% 24,6% 19,5% 26,3% 14,4% 5,9% 5,9% 7,6% 4,2% NA 379 35,4% 27,7% 29,0% 16,9% 17,9% 15,6% 6,6% 5,3% 5,5% 7,7% 2,6% ,3% ,3% No income 135 26,7% 24,4% 28,1% 20,0% 22,2% 17,0% 5,9% 5,9% 8,1% 5,9% 2,2% Less than 250 BGN 354 18,6% 29,4% 4,0% 36,4% 15,0% 15,3% 4,0% 2,5% 1,1% ,8% 1,4% ,8% ,3% 251-500 BGN 370 33,5% 30,8% 17,3% 14,6% 20,8% 21,6% 6,2% 6,5% 4,6% 4,6% 2,4% ,3% ,3% Personal monthly 501-750 BGN 96 45,8% 29,2% 32,3% 4,2% 21,9% 15,6% 6,3% 10,4% 7,3% 10,4% 3,1% income 751-1000 52 48,1% 26,9% 51,9% 7,7% 21,2% 23,1% 17,3% 5,8% 15,4% 9,6% 1,9% More than 1000 BGN 29 37,9% 34,5% 51,7% 3,4% 10,3% 13,8% 10,3% 17,2% 6,9% 10,3% Don't know 37 29,7% 29,7% 29,7% 21,6% 21,6% 5,4% 2,7% 2,7% NA 359 35,4% 26,2% 27,6% 17,0% 16,2% 14,5% 5,6% 6,7% 6,1% 7,0% 2,5% ,3% ,3% I don't use financial services 584 20,4% 27,4% 10,1% 33,4% 14,7% 16,6% 3,8% 3,9% 3,8% 3,9% 1,9% ,2% ,2% ,2% One 389 34,2% 30,3% 19,8% 15,2% 26,0% 14,7% 5,4% 6,2% 3,9% 5,4% 1,5% ,5% Financial services usage Two 242 36,8% 35,5% 25,2% 9,9% 15,3% 20,7% 9,1% 6,6% 6,2% 5,4% 3,7% ,4% Three and more 217 47,5% 20,3% 47,0% 4,6% 17,1% 17,5% 8,8% 9,2% 9,2% 6,5% 1,4% ,5% ,9% Total 1432 31,0% 28,5% 20,9% 20,1% 18,2% 16,9% 5,9% 5,8% 5,0% 5,0% 2,0% ,3% ,1% ,1% ,1% 133 Do you consider yourself a financially literate person? Unsatisfactory Satisfactory Good Excellent No knowledge knowledge and knowledge and knowledge knowledge and skills skills skills and skills and skills Don't know Base: Row % Row % Row % Row % Row % Row % Sofia 269 8,2% 23,4% 42,0% 18,6% 3,7% 4,1% Regional center 484 17,6% 27,7% 34,9% 13,6% 1,7% 4,5% Type of residence Smaller town 276 19,2% 25,7% 35,1% 12,7% ,4% 6,9% Village 403 30,8% 27,5% 26,1% 9,9% ,7% 5,0% Male 682 18,8% 27,7% 33,9% 13,9% 1,9% 3,8% Gender Female 750 20,8% 25,3% 33,7% 12,8% 1,2% 6,1% 18-30 311 19,6% 25,1% 33,8% 13,5% 2,9% 5,1% 31-40 243 11,9% 23,5% 44,0% 16,5% 1,2% 2,9% Age 41-50 253 11,9% 26,1% 38,7% 19,8% 2,0% 1,6% 51-60 257 17,5% 29,6% 31,1% 13,6% 1,2% 7,0% 60+ 368 32,3% 27,7% 25,5% 6,5% ,5% 7,3% Finished bachelor, master or higher 242 3,3% 18,2% 46,3% 26,9% 3,7% 1,7% degree Highest level of Finished college 38 18,4% 15,8% 52,6% 5,3% 2,6% 5,3% education achieved Finished secondary school 683 11,7% 29,6% 37,6% 15,5% 1,6% 4,0% Finished elementary and lower 465 40,6% 27,3% 19,8% 3,9% ,2% 8,2% Employee 575 8,5% 27,0% 42,4% 17,6% 1,9% 2,6% Other status of employed persons 72 33,3% 29,2% 26,4% 4,2% 6,9% Business owner 81 6,2% 12,3% 46,9% 28,4% 6,2% Self-employed person in 29 6,9% 20,7% 41,4% 27,6% 3,4% non-agricultural activities Self-employed person in agricultural 21 28,6% 19,0% 19,0% 14,3% 19,0% activities Family helper 5 20,0% 20,0% 40,0% 20,0% Main occupational status in the present Registered as unemployed 69 29,0% 23,2% 34,8% 10,1% 2,9% Unregistered unemployed 74 29,7% 28,4% 18,9% 8,1% 2,7% 12,2% Retired - due to age 322 33,9% 27,3% 24,8% 6,5% 7,5% Retired - other causes 65 30,8% 36,9% 16,9% 7,7% 7,7% Pupil, student 85 22,4% 30,6% 34,1% 8,2% 1,2% 3,5% Housewife 22 13,6% 22,7% 27,3% 27,3% 9,1% Person unable to work 2 100,0% Another status of non working person 7 14,3% 28,6% 14,3% 14,3% 28,6% Bulgarian 1202 17,1% 26,0% 36,7% 14,7% 1,7% 3,9% Turkish 146 26,0% 34,9% 23,3% 6,2% ,7% 8,9% Ethnicity Roma 62 58,1% 19,4% 4,8% 3,2% 1,6% 12,9% Other 21 23,8% 19,0% 23,8% 14,3% 19,0% No income 3 33,3% 33,3% 33,3% Less than 100 BGN 6 66,7% 33,3% 101-150 BGN 22 45,5% 31,8% 22,7% 151-200 BGN 57 40,4% 22,8% 21,1% 3,5% 1,8% 10,5% Total household 201-300 BGN 132 31,1% 26,5% 25,0% 4,5% 12,9% income 301-500 BGN 216 29,6% 27,3% 28,2% 7,4% ,5% 6,9% More than 500 BGN 499 12,8% 25,1% 37,7% 18,0% 2,8% 3,6% Don't know 118 33,1% 25,4% 33,9% 4,2% ,8% 2,5% NA 379 11,1% 28,0% 37,7% 18,7% 1,3% 3,2% No income 135 26,7% 23,7% 28,9% 8,9% 2,2% 9,6% Less than 250 BGN 354 32,8% 31,6% 22,9% 5,4% 7,3% 251-500 BGN 370 17,6% 26,5% 37,8% 13,5% ,8% 3,8% Personal monthly 501-750 BGN 96 3,1% 16,7% 55,2% 17,7% 3,1% 4,2% income 751-1000 52 5,8% 15,4% 40,4% 26,9% 7,7% 3,8% More than 1000 BGN 29 3,4% 17,2% 31,0% 34,5% 13,8% Don't know 37 32,4% 29,7% 32,4% 2,7% 2,7% NA 359 13,4% 27,0% 35,9% 18,9% 1,4% 3,3% I don't use financial services 584 33,2% 22,4% 25,9% 10,3% ,7% 7,5% Financial services One 389 14,4% 28,0% 37,3% 13,9% 1,8% 4,6% usage Two 242 9,9% 36,4% 38,0% 12,0% 1,7% 2,1% Three and more 217 4,6% 23,5% 44,2% 22,1% 3,2% 2,3% Total 1432 19,8% 26,5% 33,8% 13,3% 1,5% 5,0% 134 Let's assume that you deposited 10,000 lev in a bank account at 8% annual interest rate. How much money will you have in your account in 2 years if you do not withdraw from or add to this account any money? More than Exactly 10,800 Less than 10,800 BGN BGN 10,800 BGN Don't know Base: Row % Row % Row % Row % Sofia 269 67,7% 8,9% 3,7% 19,7% Regional center 484 64,5% 5,6% 3,5% 26,4% Type of residence Smaller town 276 43,8% 13,0% 2,5% 40,6% Village 403 40,7% 11,2% 3,5% 44,7% Male 682 57,5% 9,2% 3,2% 30,1% Gender Female 750 51,6% 9,2% 3,5% 35,7% 18-30 311 59,8% 9,3% 2,3% 28,6% 31-40 243 65,8% 10,7% 6,2% 17,3% Age 41-50 253 62,8% 10,7% 3,6% 22,9% 51-60 257 53,3% 8,2% 3,1% 35,4% 60+ 368 37,2% 7,9% 2,4% 52,4% Finished bachelor, master or higher 242 83,1% 4,5% 2,5% 9,9% degree Highest level of Finished college 38 63,2% 2,6% 13,2% 21,1% education achieved Finished secondary school 683 61,9% 11,1% 3,7% 23,3% Finished elementary and lower 465 27,7% 9,2% 2,6% 60,4% Employee 575 69,7% 9,6% 4,3% 16,3% Other status of employed persons 72 40,3% 5,6% 4,2% 50,0% Business owner 81 76,5% 7,4% 1,2% 14,8% Self-employed person in non-agricultural 29 69,0% 3,4% 3,4% 24,1% activities Self-employed person in agricultural 21 66,7% 9,5% 4,8% 19,0% activities Family helper 5 20,0% 20,0% 60,0% Main occupational status in the present Registered as unemployed 69 29,0% 8,7% 2,9% 59,4% Unregistered unemployed 74 33,8% 13,5% 1,4% 51,4% Retired - due to age 322 35,4% 7,5% 2,5% 54,7% Retired - other causes 65 35,4% 10,8% 3,1% 50,8% Pupil, student 85 64,7% 14,1% 21,2% Housewife 22 54,5% 13,6% 31,8% Person unable to work 2 50,0% 50,0% Another status of non working person 7 42,9% 14,3% 14,3% 28,6% Bulgarian 1202 58,1% 8,7% 3,2% 30,0% Turkish 146 44,5% 14,4% 4,8% 36,3% Ethnicity Roma 62 11,3% 9,7% 79,0% Other 21 42,9% 4,8% 52,4% No income 3 66,7% 33,3% Less than 100 BGN 6 16,7% 16,7% 66,7% 101-150 BGN 22 18,2% 9,1% 4,5% 68,2% 151-200 BGN 57 21,1% 7,0% 1,8% 70,2% Total household 201-300 BGN 132 34,1% 6,8% 3,0% 56,1% income 301-500 BGN 216 42,6% 9,7% 2,8% 44,9% More than 500 BGN 499 64,1% 10,2% 4,4% 21,2% Don't know 118 51,7% 8,5% 2,5% 37,3% NA 379 63,9% 9,0% 2,9% 24,3% No income 135 46,7% 14,8% 1,5% 37,0% Less than 250 BGN 354 31,4% 9,6% 3,1% 55,9% 251-500 BGN 370 60,3% 10,0% 4,3% 25,4% Personal monthly 501-750 BGN 96 75,0% 4,2% 7,3% 13,5% income 751-1000 52 78,8% 9,6% 1,9% 9,6% More than 1000 BGN 29 79,3% 6,9% 13,8% Don't know 37 43,2% 10,8% 2,7% 43,2% NA 359 64,1% 7,2% 2,8% 25,9% I don't use financial services 584 42,8% 8,4% 3,3% 45,5% Financial services One 389 56,0% 10,8% 2,6% 30,6% usage Two 242 64,5% 7,9% 4,1% 23,6% Three and more 217 71,4% 10,1% 4,1% 14,3% Total 1432 54,4% 9,2% 3,4% 33,0% 135 Let's assume that you deposited 10,000 lev in a bank account at 10% annual interest rate. The interest will be earned at the end of each year and will be added to the principal. How much money will you have in your account in 5 years if you do not withdraw either the principal or the interest? More than Exactly 15,000 Less than 15,000 15,000 BGN BGN BGN Don't know Base: Row % Row % Row % Row % Sofia 269 33,1% 31,6% 7,8% 27,5% Regional center 484 50,4% 15,1% 3,5% 31,0% Type of residence Smaller town 276 40,6% 13,8% 5,1% 40,6% Village 403 33,5% 14,1% 4,7% 47,6% Male 682 43,4% 17,4% 5,6% 33,6% Gender Female 750 37,9% 17,9% 4,4% 39,9% 18-30 311 39,9% 22,2% 4,5% 33,4% 31-40 243 49,4% 22,2% 7,4% 21,0% Age 41-50 253 47,8% 20,9% 4,0% 27,3% 51-60 257 42,8% 12,8% 4,7% 39,7% 60+ 368 28,5% 12,0% 4,6% 54,9% Finished bachelor, master or higher 242 53,3% 24,8% 4,5% 17,4% degree Highest level of Finished college 38 47,4% 23,7% 7,9% 21,1% education achieved Finished secondary school 683 46,9% 19,2% 6,0% 28,0% Finished elementary and lower 465 23,9% 11,2% 3,4% 61,5% Employee 575 51,5% 20,5% 5,2% 22,8% Other status of employed persons 72 23,6% 20,8% 55,6% Business owner 81 61,7% 17,3% 3,7% 17,3% Self-employed person in 29 51,7% 20,7% 6,9% 20,7% non-agricultural activities Self-employed person in agricultural 21 66,7% 9,5% 4,8% 19,0% activities Family helper 5 40,0% 60,0% Main occupational status in the present Registered as unemployed 69 26,1% 8,7% 5,8% 59,4% Unregistered unemployed 74 28,4% 13,5% 5,4% 52,7% Retired - due to age 322 25,8% 11,8% 5,3% 57,1% Retired - other causes 65 24,6% 13,8% 6,2% 55,4% Pupil, student 85 43,5% 28,2% 4,7% 23,5% Housewife 22 36,4% 31,8% 4,5% 27,3% Person unable to work 2 50,0% 50,0% Another status of non working person 7 28,6% 28,6% 14,3% 28,6% Bulgarian 1202 41,5% 19,3% 5,2% 34,0% Turkish 146 44,5% 9,6% 4,8% 41,1% Ethnicity Roma 62 12,9% 8,1% 79,0% Other 21 33,3% 9,5% 9,5% 47,6% No income 3 33,3% 33,3% 33,3% Less than 100 BGN 6 16,7% 16,7% 66,7% 101-150 BGN 22 18,2% 13,6% 68,2% 151-200 BGN 57 14,0% 7,0% 8,8% 70,2% Total household 201-300 BGN 132 27,3% 10,6% 3,0% 59,1% income 301-500 BGN 216 32,4% 13,0% 5,6% 49,1% More than 500 BGN 499 51,9% 17,4% 6,4% 24,2% Don't know 118 40,7% 15,3% 1,7% 42,4% NA 379 40,4% 25,6% 4,2% 29,8% No income 135 34,8% 22,2% 5,2% 37,8% Less than 250 BGN 354 23,2% 14,1% 4,0% 58,8% 251-500 BGN 370 50,8% 14,3% 5,4% 29,5% Personal monthly 501-750 BGN 96 60,4% 12,5% 8,3% 18,8% income 751-1000 52 57,7% 19,2% 11,5% 11,5% More than 1000 BGN 29 51,7% 31,0% 3,4% 13,8% Don't know 37 40,5% 8,1% 2,7% 48,6% NA 359 40,4% 24,0% 3,9% 31,8% I don't use financial services 584 30,7% 14,7% 6,0% 48,6% Financial services One 389 42,7% 18,0% 4,9% 34,4% usage Two 242 52,1% 19,4% 1,2% 27,3% Three and more 217 50,2% 23,0% 6,5% 20,3% Total 1432 40,5% 17,7% 5,0% 36,9% 136 Imagine, than you deposited the money in a bank account at 8% interest rate, while the annual inflation rate was 10%. Do you think the money from your account can buy more or less, or the same amount of goods and services on average now as a year ago? More than a Less than a year ago The same year ago Don't know Base: Row % Row % Row % Row % Sofia 269 6,3% 13,0% 52,8% 27,9% Regional center 484 2,9% 8,3% 55,0% 33,9% Type of residence Smaller town 276 2,5% 9,1% 48,6% 39,9% Village 403 3,7% 9,7% 35,2% 51,4% Male 682 3,7% 11,3% 49,4% 35,6% Gender Female 750 3,7% 8,3% 46,3% 41,7% 18-30 311 6,8% 13,2% 42,1% 37,9% 31-40 243 2,5% 10,3% 60,5% 26,7% Age 41-50 253 3,6% 8,7% 59,3% 28,5% 51-60 257 3,5% 8,6% 47,5% 40,5% 60+ 368 2,2% 7,9% 36,4% 53,5% Finished bachelor, master or higher degree 242 3,3% 10,7% 66,1% 19,8% Highest level of education Finished college 38 2,6% 2,6% 71,1% 23,7% achieved Finished secondary school 683 4,7% 10,2% 54,0% 31,0% Finished elementary and lower 465 2,6% 9,0% 26,9% 61,5% Employee 575 5,2% 10,1% 59,1% 25,6% Other status of employed persons 72 4,2% 2,8% 36,1% 56,9% Business owner 81 3,7% 7,4% 67,9% 21,0% Self-employed person in non-agricultural activities 29 3,4% 20,7% 62,1% 13,8% Self-employed person in agricultural activities 21 28,6% 47,6% 23,8% Family helper 5 40,0% 60,0% Main occupational status Registered as unemployed 69 1,4% 4,3% 36,2% 58,0% in the present Unregistered unemployed 74 2,7% 14,9% 21,6% 60,8% Retired - due to age 322 1,6% 7,8% 35,1% 55,6% Retired - other causes 65 3,1% 9,2% 30,8% 56,9% Pupil, student 85 3,5% 16,5% 48,2% 31,8% Housewife 22 4,5% 63,6% 31,8% Person unable to work 2 50,0% 50,0% Another status of non working person 7 14,3% 14,3% 42,9% 28,6% Bulgarian 1202 3,7% 9,3% 51,3% 35,7% Turkish 146 5,5% 15,8% 35,6% 43,2% Ethnicity Roma 62 1,6% 12,9% 85,5% Other 21 14,3% 33,3% 52,4% No income 3 66,7% 33,3% Less than 100 BGN 6 33,3% 66,7% 101-150 BGN 22 22,7% 77,3% 151-200 BGN 57 1,8% 14,0% 22,8% 61,4% Total household income 201-300 BGN 132 5,3% 5,3% 28,0% 61,4% 301-500 BGN 216 1,9% 7,9% 38,9% 51,4% More than 500 BGN 499 4,8% 11,2% 57,5% 26,5% Don't know 118 4,2% 11,9% 39,0% 44,9% NA 379 3,2% 9,8% 54,9% 32,2% No income 135 3,7% 14,1% 38,5% 43,7% Less than 250 BGN 354 2,5% 6,2% 32,2% 59,0% 251-500 BGN 370 5,1% 10,5% 52,4% 31,9% 501-750 BGN 96 2,1% 12,5% 66,7% 18,8% Personal monthly income 751-1000 52 5,8% 7,7% 71,2% 15,4% More than 1000 BGN 29 13,8% 69,0% 17,2% Don't know 37 5,4% 5,4% 43,2% 45,9% NA 359 3,6% 10,3% 52,1% 34,0% I don't use financial services 584 3,6% 10,1% 33,9% 52,4% One 389 3,1% 9,3% 52,2% 35,5% Financial services usage Two 242 2,5% 10,7% 61,2% 25,6% Three and more 217 6,5% 8,3% 62,2% 23,0% Total 1432 3,7% 9,7% 47,8% 38,8% 137 Let's assume that in 2012 your income is twice as now, and the consumer prices also grow twofold. Do you think that in 2012 you will be able to buy more, less, or the same amount of goods and services as today? More than Exactly the Less than today same today Don't know Base: Row % Row % Row % Row % Sofia 269 4,5% 49,4% 26,4% 19,7% Regional center 484 1,7% 44,0% 31,4% 22,9% Type of residence Smaller town 276 2,5% 50,4% 13,8% 33,3% Village 403 3,7% 34,2% 16,4% 45,7% Male 682 3,4% 45,5% 23,2% 28,0% Gender Female 750 2,5% 41,7% 22,5% 33,2% 18-30 311 4,8% 46,9% 20,9% 27,3% 31-40 243 2,9% 53,1% 24,3% 19,8% Age 41-50 253 3,6% 49,4% 26,5% 20,6% 51-60 257 2,3% 38,9% 25,7% 33,1% 60+ 368 1,4% 33,4% 19,0% 46,2% Finished bachelor, master or higher degree 242 3,7% 57,9% 26,0% 12,4% Highest level of Finished college 38 2,6% 36,8% 36,8% 23,7% education achieved Finished secondary school 683 2,5% 49,2% 25,5% 22,8% Finished elementary and lower 465 3,2% 28,0% 16,1% 52,7% Employee 575 3,5% 53,7% 24,3% 18,4% Other status of employed persons 72 2,8% 31,9% 19,4% 45,8% Business owner 81 2,5% 55,6% 30,9% 11,1% Self-employed person in non-agricultural 29 44,8% 41,4% 13,8% activities Self-employed person in agricultural 21 4,8% 47,6% 28,6% 19,0% activities Family helper 5 60,0% 40,0% Main occupational status in the present Registered as unemployed 69 2,9% 37,7% 10,1% 49,3% Unregistered unemployed 74 4,1% 31,1% 14,9% 50,0% Retired - due to age 322 1,6% 30,4% 20,5% 47,5% Retired - other causes 65 1,5% 30,8% 16,9% 50,8% Pupil, student 85 7,1% 44,7% 28,2% 20,0% Housewife 22 50,0% 31,8% 18,2% Person unable to work 2 50,0% 50,0% Another status of non working person 7 14,3% 57,1% 28,6% Bulgarian 1202 2,0% 46,4% 24,0% 27,6% Turkish 146 11,0% 34,9% 18,5% 35,6% Ethnicity Roma 62 1,6% 14,5% 11,3% 72,6% Other 21 4,8% 19,0% 23,8% 52,4% No income 3 66,7% 33,3% Less than 100 BGN 6 16,7% 16,7% 16,7% 50,0% 101-150 BGN 22 22,7% 18,2% 59,1% 151-200 BGN 57 1,8% 15,8% 21,1% 61,4% Total household 201-300 BGN 132 1,5% 30,3% 20,5% 47,7% income 301-500 BGN 216 1,9% 36,6% 19,4% 42,1% More than 500 BGN 499 3,0% 51,5% 26,5% 19,0% Don't know 118 4,2% 42,4% 16,9% 36,4% NA 379 3,7% 47,5% 23,5% 25,3% No income 135 5,9% 39,3% 20,7% 34,1% Less than 250 BGN 354 1,7% 27,7% 19,5% 51,1% 251-500 BGN 370 2,7% 49,5% 25,9% 21,9% Personal monthly 501-750 BGN 96 1,0% 64,6% 25,0% 9,4% income 751-1000 52 3,8% 55,8% 30,8% 9,6% More than 1000 BGN 29 3,4% 51,7% 27,6% 17,2% Don't know 37 2,7% 35,1% 13,5% 48,6% NA 359 3,6% 47,4% 22,6% 26,5% I don't use financial services 584 2,6% 34,1% 18,0% 45,4% Financial services One 389 2,6% 46,5% 24,2% 26,7% usage Two 242 4,1% 49,6% 27,7% 18,6% Three and more 217 3,2% 56,7% 28,1% 12,0% 138 Total 1432 2,9% 43,5% 22,8% 30,7% Let's assume that you saw a TV-set of the same model on sales in two different shops. The initial retail price of it was 1,000 lev. One shop offered a discount of 150 lev, while the other one offered a 10% discount. Which one is a better bargain - a discount of 150 lev or 10%? A discount There are A 10% of 150 lev the same discount Don't know Base: Row % Row % Row % Row % Sofia 269 79,6% 4,8% 1,5% 14,1% Regional center 484 75,0% 2,1% 1,2% 21,7% Type of residence Smaller town 276 61,2% 4,3% 1,8% 32,6% Village 403 51,4% 5,2% 1,5% 41,9% Male 682 67,7% 5,3% 1,9% 25,1% Gender Female 750 65,5% 2,7% 1,1% 30,8% 18-30 311 72,3% 3,5% 1,3% 22,8% 31-40 243 77,0% 4,9% 1,6% 16,5% Age 41-50 253 77,5% 3,6% 2,4% 16,6% 51-60 257 61,9% 3,5% 1,9% 32,7% 60+ 368 50,5% 4,1% ,5% 44,8% Finished bachelor, master or higher 242 86,4% 1,7% 2,1% 9,9% degree Highest level of Finished college 38 73,7% 5,3% 21,1% education achieved Finished secondary school 683 74,8% 4,4% 1,3% 19,5% Finished elementary and lower 465 43,2% 4,3% 1,5% 51,0% Employee 575 78,8% 4,0% 1,6% 15,7% Other status of employed persons 72 55,6% 2,8% 41,7% Business owner 81 82,7% 3,7% 2,5% 11,1% Self-employed person in 29 89,7% 3,4% 3,4% 3,4% non-agricultural activities Self-employed person in 21 61,9% 14,3% 23,8% agricultural activities Family helper 5 40,0% 20,0% 40,0% Main occupational Registered as unemployed 69 53,6% 2,9% 1,4% 42,0% status in the present Unregistered unemployed 74 43,2% 9,5% 2,7% 44,6% Retired - due to age 322 48,8% 4,0% ,3% 46,9% Retired - other causes 65 50,8% 4,6% 44,6% Pupil, student 85 80,0% 2,4% 17,6% Housewife 22 77,3% 4,5% 18,2% Person unable to work 2 50,0% 50,0% Another status of non working 7 71,4% 28,6% person Bulgarian 1202 69,6% 4,2% 1,5% 24,7% Turkish 146 63,7% 3,4% 1,4% 31,5% Ethnicity Roma 62 21,0% 1,6% 77,4% Other 21 42,9% 4,8% 52,4% No income 3 66,7% 33,3% Less than 100 BGN 6 33,3% 16,7% 50,0% 101-150 BGN 22 45,5% 4,5% 50,0% 151-200 BGN 57 28,1% 5,3% 66,7% Total household 201-300 BGN 132 46,2% 6,1% ,8% 47,0% income 301-500 BGN 216 56,9% 2,3% 1,9% 38,9% More than 500 BGN 499 81,0% 3,0% 1,0% 15,0% Don't know 118 61,0% 2,5% ,8% 35,6% NA 379 69,4% 5,5% 2,4% 22,7% No income 135 62,2% 5,2% 1,5% 31,1% Less than 250 BGN 354 46,9% 2,8% 1,1% 49,2% 251-500 BGN 370 75,7% 3,8% 1,9% 18,6% Personal monthly 501-750 BGN 96 86,5% 3,1% 1,0% 9,4% income 751-1000 52 88,5% 1,9% 9,6% More than 1000 BGN 29 86,2% 3,4% 10,3% Don't know 37 51,4% 48,6% NA 359 69,6% 5,6% 1,9% 22,8% I don't use financial services 584 51,9% 4,1% 1,7% 42,3% Financial services One 389 70,2% 4,6% 1,5% 23,7% usage Two 242 81,0% 2,9% ,4% 15,7% Three and more 217 139 83,4% 3,2% 1,8% 11,5% Total 1432 66,6% 3,9% 1,5% 28,1% Let's assume that you took a bank credit of 10,000 BGN to be paid back during a year in equal monthly payments. The interest amount paid back on top of the credit is 600 BGN. Give a rough estimate of the annual percentage rate on your credit? 3% 6% 9% 12% Don't know Base: Row % Row % Row % Row % Row % Sofia 269 4,5% 47,6% 3,3% 1,9% 42,8% Regional center 484 2,3% 41,7% 3,7% 2,9% 49,4% Type of residence Smaller town 276 1,1% 37,7% 6,9% 54,3% Village 403 ,7% 31,0% 2,7% 3,0% 62,5% Male 682 2,1% 40,8% 3,7% 2,6% 50,9% Gender Female 750 2,0% 37,5% 4,3% 1,7% 54,5% 18-30 311 4,2% 40,8% 4,8% 1,9% 48,2% 31-40 243 3,3% 44,9% 5,3% 3,3% 43,2% Age 41-50 253 ,4% 47,0% 4,7% 2,4% 45,5% 51-60 257 1,2% 38,1% 5,1% 2,3% 53,3% 60+ 368 1,1% 28,8% 1,1% 1,4% 67,7% Finished bachelor, master or higher 242 5,0% 58,7% 3,7% 1,7% 31,0% degree Highest level of education Finished college 38 42,1% 10,5% 2,6% 44,7% achieved Finished secondary school 683 1,5% 44,1% 5,3% 2,2% 47,0% Finished elementary and lower 465 1,5% 20,9% 1,7% 2,4% 73,5% Employee 575 1,9% 48,2% 5,6% 2,3% 42,1% Other status of employed persons 72 1,4% 27,8% 5,6% 65,3% Business owner 81 3,7% 63,0% 7,4% 1,2% 24,7% Self-employed person in non-agricultural 29 3,4% 55,2% 3,4% 3,4% 34,5% activities Self-employed person in agricultural 21 33,3% 4,8% 61,9% activities Family helper 5 20,0% 80,0% Main occupational status in the present Registered as unemployed 69 1,4% 21,7% 1,4% 2,9% 72,5% Unregistered unemployed 74 1,4% 32,4% 4,1% 4,1% 58,1% Retired - due to age 322 1,2% 26,4% 1,2% 1,6% 69,6% Retired - other causes 65 1,5% 21,5% 3,1% 73,8% Pupil, student 85 2,4% 42,4% 4,7% 2,4% 48,2% Housewife 22 18,2% 40,9% 4,5% 36,4% Person unable to work 2 50,0% 50,0% Another status of non working person 7 57,1% 42,9% Bulgarian 1202 2,2% 41,8% 3,7% 2,0% 50,3% Turkish 146 ,7% 31,5% 7,5% 3,4% 56,8% Ethnicity Roma 62 1,6% 8,1% 1,6% 88,7% Other 21 4,8% 23,8% 4,8% 4,8% 61,9% No income 3 66,7% 33,3% Less than 100 BGN 6 16,7% 16,7% 66,7% 101-150 BGN 22 4,5% 4,5% 90,9% 151-200 BGN 57 1,8% 12,3% 1,8% 3,5% 80,7% Total household income 201-300 BGN 132 ,8% 16,7% 3,0% 3,0% 76,5% 301-500 BGN 216 2,3% 29,2% 2,8% 1,9% 63,9% More than 500 BGN 499 2,0% 48,7% 5,0% 3,2% 41,1% Don't know 118 2,5% 37,3% 1,7% 58,5% NA 379 2,4% 46,4% 4,7% 1,1% 45,4% No income 135 3,0% 35,6% 2,2% 3,7% 55,6% Less than 250 BGN 354 1,7% 21,2% 1,7% 1,4% 74,0% 251-500 BGN 370 1,4% 43,5% 5,9% 2,7% 46,5% 501-750 BGN 96 1,0% 58,3% 4,2% 4,2% 32,3% Personal monthly income 751-1000 52 3,8% 57,7% 5,8% 32,7% More than 1000 BGN 29 6,9% 51,7% 6,9% 6,9% 27,6% Don't know 37 2,7% 37,8% 59,5% NA 359 2,2% 44,6% 4,7% 1,4% 47,1% I don't use financial services 584 3,1% 27,7% 4,3% 2,4% 62,5% One 389 1,5% 42,2% 4,1% 1,5% 50,6% Financial services usage Two 242 ,4% 46,3% 4,1% 1,2% 47,9% Three and more 217 1,8% 55,8% 2,8% 3,7% 35,9% Total 1432 2,0% 39,0% 4,0% 2,2% 52,8% 140 If a citizen has a deposit in a Bulgarian bank and this bank becomes bankrupt, do you know what maximum level of a deposit is entirely insured by the government? The government The government insures does not insure the The equivalent in lev The equivalent in lev The equivalent in lev all bank deposits in their bank deposits of 30.000 euro of 50.000 euro of 100.000 euro full amoun Don't know Base: Row % Row % Row % Row % Row % Row % Sofia 269 3,3% 10,0% 26,4% 2,2% 4,5% 53,5% Regional center 484 4,3% 4,8% 27,3% 2,1% 5,2% 56,4% Type of residence Smaller town 276 4,3% 6,9% 21,0% 3,3% 5,1% 59,4% Village 403 6,0% 7,7% 9,9% 2,7% 3,2% 70,5% Male 682 4,7% 7,5% 24,2% 2,9% 4,3% 56,5% Gender Female 750 4,5% 6,5% 18,1% 2,1% 4,7% 64,0% 18-30 311 4,5% 3,9% 21,9% 2,6% 3,2% 64,0% 31-40 243 4,9% 7,4% 25,9% 3,3% 7,4% 51,0% Age 41-50 253 4,7% 10,7% 21,3% 2,0% 4,3% 56,9% 51-60 257 4,3% 8,9% 26,5% 3,1% 5,1% 52,1% 60+ 368 4,6% 5,4% 13,0% 1,9% 3,3% 71,7% Finished bachelor, master or higher 242 3,7% 5,0% 37,6% 4,5% 3,7% 45,5% degree Highest level of Finished college 38 2,6% 10,5% 26,3% 2,6% 7,9% 50,0% education achieved Finished secondary school 683 3,4% 9,1% 25,0% 2,8% 5,1% 54,6% Finished elementary and lower 465 7,1% 4,7% 6,0% 1,1% 3,7% 77,4% Employee 575 4,5% 8,2% 27,0% 2,4% 5,6% 52,3% Other status of employed persons 72 2,8% 11,1% 12,5% 1,4% 2,8% 69,4% Business owner 81 2,5% 9,9% 37,0% 8,6% 2,5% 39,5% Self-employed person in non-agricultural 29 3,4% 20,7% 27,6% 3,4% 6,9% 37,9% activities Self-employed pers