According to the Prosumer Report by Havas, we are taking on less debt, warming to minimalism, and no longer believing in the American Dream.

Only four out of ten people believe money gives their lives meaning, and half of respondents say they would be happier if they consumed less — these are the findings of a new study, "Money, Money, Money: Attitudes Towards Credit, Consumption and Cryptocurrencies," conducted by Havas. At a time when the global economy is slowing and many of us have fewer financial resources, the shift in attitudes toward money, consumption and debt suggests that capitalism could quickly go bankrupt.

Key Findings of the Study

Money isn't everything, although it matters: 71% of those surveyed say their lives would be better if they were richer. On the other hand, 81% believe that people who are obsessed with money miss the true meaning of life. 73% of respondents admire those who, despite their wealth, live modestly.

We approach debt with caution: Nearly seven in ten respondents say their lives would be better if they were less indebted. The main reason we seek credit is to buy a home (50%), pay for children's education (40%), invest in our own business (31%) and buy a car (27%).

We are questioning what capitalism gives us: Only 49% of respondents believe that the harder you work, the more you earn — that is, they believe in the conviction on which capitalism is founded. 50% of respondents feel frustrated that such long working hours are enough only to get by.

Banks need to change: Consumers around the world expect banks to start using new technologies and offer customers more personalized services. 59% of respondents would like to save more wisely, 49% want all their finances handled by a single organization, and among the most cutting-edge consumers in the sample (Prosumers), 55% would like to pay for everything with smartphones or use biometric technology for payments.

People's relationship with money is so important that studying it provides insight into far more significant and urgent issues than finance alone. Money shapes how people live day to day, influences their dreams, their views of the future, their interpersonal relationships and their outlook on the world. The Havas study clearly indicates that people no longer believe in what capitalism promises, and they worry about their children's future. Over the past year we have witnessed cultural, economic and political ferment — we have received tangible evidence that people in the most diverse countries around the world want to rebel, change the world and set a new direction. What that new course will be, how companies should operate in our turbulent times and what added value brands can carry today — these are questions that must be answered. The prospects are not easy, but they come with exciting challenges.

What else is worth noting? Below are a few additional data points:

  • 67% of prosumers believe that the sharing economy helps entrepreneurs achieve success.
  • 53% of prosumers would gladly share their personal data in exchange for free access to culture, entertainment and information.
  • 73% of prosumers would gladly watch an ad in exchange for free access to culture, entertainment and information.
  • 62% of prosumers would like to pay for everything within the next few years using wearable technology devices, e.g., a chip placed in a watch.
  • 34% of prosumers say that within the next few years Bitcoin or another virtual currency will replace cash.

More information can be found in the report "Money, Money, Money: Attitudes Towards Credit, Consumption and Cryptocurrencies," based on a study involving 11,976 people aged over 18 in 37 markets. The study was created by Havas and conducted by Market Probe International. To learn more or download the report, visit http://mag.havas.com/prosumer-report/money/.