• Ages between 31 and 45 years old, represent 34% of savers in Grupo Mutual

 

• Reduction in transportation and food costs during the pandemic would have favored this behavior.

 

October 2021.

 

As part of the celebration of Savings Month, Grupo Mutual highlights the increase in savings among younger clients. According to information from the entity, 34% of its savers are between 31 and 45 years old, followed by the age group that ranges from 19 to 30 years old with 21%.

 

Although it is true at these ages the saving capacity is more limited because it could be considered with a lower income capacity, the behavior of the saver has been constant and increasing.

 

Experts from Grupo Mutual consider important factors that have favored this behavior of savings to the implementation of technology in their service platforms, greater access to the facilities of electronic channels, the reduction of costs due to the consolidation of teleworking, cultural habits family members, the restriction on mobilization and consumption and the contributions of Financial Education programs.

 

“At Grupo Mutual we have been working for several years to strengthen Financial Education programs in schools, colleges and workplaces. In addition to this, factors associated with the implementation of teleworking due to pandemic issues could have meant a reduction in costs. fixed in transportation, leisure and food, generating greater liquidity which was used for savings. In addition, there is greater awareness among people about the importance of always being prepared for any eventuality that goes beyond our financial capabilities,” said Rebeca Fernández, Financial Education Executive at Grupo Mutual.

 

As part of the analysis carried out by Grupo Mutual on savings issues, it is evident that there is a notable difference in savings between men and women. In the last 5 years, of the active accounts, 58% belong to women and 42% correspond to men.  In programmed Multiahorro accounts, 71% belong to women  and  39% are from men. However, men have much higher savings levels with an average of 310 thousand colones, while women save around 289 thousand colones per client.

 

In terms of savings, term certificates continue to be the preferred alternative for older savers, who in turn report much higher savings income. Likewise, people who live in the Greater Metropolitan Area like to invest more in investment certificates with 91% and only 9% of certificates are in the hands of clients who live in rural areas.

 

In the last 5 years, Grupo Mutual has offered Financial Education to more than 25,000 people, including topics such as basic tips for having healthy finances and the correct preparation of a budget, whether personal or family. Currently, 16,000 people have been impacted through webinars, virtual talks, informative videos, personalized sessions in educational centers, clients, communities, collaborators, associations and families in vulnerable conditions.

 

The main purpose of Grupo Mutual is to have increasingly more informed clients, who can  make better financial decisions and increase your skills in using the advantages of electronic media.