Banks and institutions share a certain idea of what money is and what people have to do with it. These preconceptions structure their banking products upstream as well as their service offer to individuals. Yet, the relationship of people to money is not obvious and deserves to be investigated. Are the perception of money and its actual use in line with the assumptions of banks? These lessons come from our report on the uses of money.
Banks and institutions see money as a neutral medium that has to meet precise management standards, but people have different manners of looking at money and using it. Money has a social and emotional meaning that constrains its use as much as it allows it. In their daily management of money, individuals must reconcile two aspects: on the one hand, the preservation of its social significance and on the other hand the conformity to banking management standards.
The field study was conducted between July 20 and August 7, 2015, through in-depth semi-directive interviews with a panel of fifteen people. This panel was constituted of contrasted profiles, with strong differences in terms of age and life cycle, level of income and wealth, marital status and area of residence.