Muscat – People in Oman show a cautious approach to personal finances, with investment, debt repayment and savings featuring prominently among their financial goals, but gaps remain in emergency planning, budgeting and the use of professional financial advice, according to a Central Bank of Oman (CBO) survey.

A national survey, conducted as part of the CBO’s efforts to promote financial literacy, examined the public’s financial awareness, attitudes and behaviours. Its findings were published in the central bank’s Financial Stability Report 2025.

Among respondents, 46% said they planned to increase their investments, while 30% aimed to repay debts and 24% planned to purchase property.

‘These trends indicate a growing focus on wealth accumulation and long-term financial security,’ the CBO said.

The survey was based on responses from individuals who participated through the CBO’s official LinkedIn and Instagram accounts.

The findings also showed strong support for introducing financial education at an early age. Around 39% of respondents favoured teaching children about investment and commerce, while 36% supported giving children weekly allowances to encourage budgeting and responsible spending.

However, the survey highlighted areas where household financial resilience could be strengthened. While 67% of respondents strongly agreed that higher income improves financial security, only 58% said they had a financial emergency plan. Another 32% said they did not have one, while 10% had never considered having such a plan.

The CBO said the findings highlight the importance of budgeting and financial planning, noting that income alone is not sufficient to ensure financial security and that greater awareness of structured financial planning could help strengthen resilience.

Saving habits were also mixed. While 56.7% of respondents said they save regularly, 25.9% said they do not save consistently. The CBO noted that inconsistent saving could create challenges for households during periods of financial stress.

Digital payment methods were widely used among respondents, with 57% relying primarily on bank cards, 29% on electronic payments and 14% on cash. The CBO said the results point to a shift towards digital financial practices.

Budgeting, however, remained a challenge for a significant proportion of respondents. While 47.3% said they prepare monthly budgets, 23.1% said they do not budget at all.

The CBO also found that SMS alerts were the most common method of tracking spending, used by 41.4% of respondents, followed by manual methods at 22.5%. Only 14.2% used financial applications to monitor their spending, suggesting scope for wider adoption of digital tools for budgeting and expense tracking.

Respondents generally demonstrated a cautious approach to borrowing. Nearly half, or 47%, said the purpose of a loan was the most important consideration when making borrowing decisions, ahead of factors such as interest rates, loan size and repayment period.

In addition, 46.3% said they actively avoid borrowing beyond their means.

The survey also examined how respondents would use a bonus while carrying credit-card debt. Around 40% said they would divide the bonus between repaying debt and investing, while 37% would use the entire amount to repay the debt. The remaining 23% would invest the full bonus.

Family members remained the main source of financial advice, with 45% of respondents saying they turn to relatives for guidance on housing or personal loan decisions. Professional financial advisory services, meanwhile, were less widely used, the findings showed.