People think their finances are as good as they were before Corona

Released on 28.10. 2021

  • According to a survey by the institute Kantar denote 43 percent of their financial situation as good or very good. Photo: Patrick Pleul

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Despite the Corona crisis, the pandemic has not harmed people’s satisfaction with their financial situation. However, many have limited their spending in the past few months.

Berlin (dpa) – The Corona crisis has left no lasting damage to people’s satisfaction with their financial situation. This is the result of a survey by the Kantar Institute. 43 Percent describe the situation as good or very good.

So the high level of 2019 was reached again, as announced by the German Savings Banks and Giro Association on the occasion of World Savings Day this Friday. However, many have limited their spending in the past few months, and around one in four says they want to save more. It was said that caution always precedes consumption.

«Caution is good. But we have to be careful that caution does not turn into fear of the future, ”said Sparkasse President Helmut Schleweis on Thursday. The rising prices and low interest rates are poison for investors. However, inflation will not go back quickly. A turnaround in the monetary policy of the European Central Bank is necessary in order for interest rates to rise again. 35 Percentage of 20 – to 50 – year-olds want to buy a property, 8 percentage points more than last year. “For many normal earners, home ownership is hardly affordable today,” criticized Schleweis. The new federal government must promote home ownership more as a pension scheme. According to the Association of German Pfandbrief Banks, residential real estate rose on average 9.6 percent in the first half of the year 2021.

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