What French Families Face in 2023

In 2023, French families confront several economic challenges that can impact their financial stability.

With the crisis that has devastated Europe in energy terms, general price increases, strikes and protests in the country due to retirement age and inflation, economic concerns have taken precedence when assessing society’s worries.

However, it’s not exclusive to France. Germany, despite being the so-called “locomotive of Europe,” is now discussing recession, highlighting the delicate situation of the Eurozone.

Food, housing, transportation, basic expenses, and utilities are just the tip of the iceberg of challenges that families face each month, but they are not the only ones.

Unemployment and job insecurity continue to be persistent problems in France. The constant worry of losing jobs or not finding stable employment is increasingly common. This can generate financial insecurity and serve as an early warning to stock up on the real economic situation of accounts by the end of 2023.

Changes in social policies announced in recent months, as well as benefits that the French Government offered, may be undergoing modifications in many households, even having a direct impact on the family budget to the point of needing to adjust financial planning for the year.

At this point, many have decided to apply for a Credit for FICP to try to organize payments more calmly and prevent, among other things, continuing to defer payments when family savings have run out. As pages like bettercompared explain, where the best credit offers from banks, credit institutions, and lenders are gathered, many have been consulting the terms of the credit market as the situation continues month after month.

Undoubtedly, it is time to genuinely seek solutions and plan how to overcome the slump.

Some of the recommendations experts provide include:

– Develop a detailed budget of fixed expenses and adjust spending according to priorities.

– Look for ways to save on everyday expenses, such as shopping during sales, reducing unnecessary services, and comparing prices.

– Explore available social programs and benefits for families and ensure they are fully utilized.

Even so, the entire sector of economic experts agrees that it is crucial, especially for the future, to focus on improving financial education from schools so that young people learn to make informed decisions and overcome the taboo of, in specific cases, seeking professional advice for informed financial decisions.

The arrival of aid from the European Union, the savings capacity of families, and good economic planning is the only key to overcoming this 2023 and facing a 2024 that, according to market chatter, could bring growth again to help the most affected economies get ahead.