March 2nd, 2017

// Money Still Doesn’t Buy Happiness

Havas just published an article about the newest Prosumer Report, Money, Money, Mon€y: Attitudes Toward Credit, Consumption and Cryptocurrency, which explores our current relationship with money, debt and alternative methods of payment (including the popular Bitcoin)

“The new Prosumer Report seeks to understand how citizens are adapting to the uncertain political world we now live in,” commented Judikaela Auffrédou, Director, Strategy at Havas Montréal. “If the political landscape seems weakened, the economic landscape is equally so. We are still feeling the effects of the big 2008 recession and the result is widespread pessimism. Also, we are definitely feeling a certain cynicism toward capitalism and free trade.”

The results of this most recent study, which surveys consumer attitudes towards the world economy, the true value of money, personal finance and the future of banking, are compelling. The majority of respondents (6 out of 10) believe that the world has reached (and passed) peak economic growth and that we all need to get used to living with less in the future. Another major finding undermines the capitalist model: a lost belief in the merit of hard work, with respondents no longer seeing this as a cornerstone of success. Prosumers also believe that in the 21st century, banks will have to reinvent their models in order to stay competitive with emerging currencies.

Canadians are the most optimistic about their country’s economic future, with only 21% of Prosumers believing that Canada could go bankrupt. Canadians are positive about their country’s prospects and those of their children, as well. Nearly 97% of Canadians believe that children should learn more about our finances. Quebec is already riding this wave, with financial education classes set to become obligatory in Fall 2017.

About Havas 

Present in Montreal since 1986, global communications group Havas acquired TP1 in 2016. This agency’s 10 years of experience in the digital realm has enhanced Havas expertise in Canada. Havas’ worldwide network, combined with strong roots in Montreal, has greatly benefited a variety of local, national and international clients, including Couche-Tard, Brandsource, Fromageries Bel, Jean Coutu, L’Oréal, LasikMD, New Balance, Société de transport de Montréal (STM), TVA and Bromont, montagne d’expériences.

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