Despite many relief packages, the economic situation in Germany remains tense. High inflation and expensive energy are eating away at people’s wallets. Liane Buchholz knows first-hand how bad things really are for people: the savings bank boss knows the economic needs of the citizens. One number in particular stands out.
Electricity and gas prices are gradually falling again and inflation is also on the retreat. Nevertheless, for many Germans there can be no question of a sigh of relief. The past year has been tough and eaten into the wallets of many citizens. Liane Buchholz, President of the Savings Banks Association of Westphalia-Lippe, reveals how dramatic the situation really is.
Savings bank boss sums up: third of people have no money for unexpected expenses over 1,150 euros
Because it is no longer just low-income earners who are affected. “The crisis has hit the middle class,” explains Buchholz (source FAZ). round the half of the people would meanwhile on their access savings70 percent put off major purchases.
While many people weren’t hit until 2022 by the combination of high energy prices and record inflation, others have been badly off for longer. Because even before the crisis year, “almost a third of all Germans no money to cover unexpected expenses over 1,150 euros“, so the bitter conclusion of the Sparkasse boss.
Buchholz had previously warned that even a net income of 3,500 euros per month is no longer enough for many households to put money aside. The proverbial So nest egg faces an uncertain future.
Saving is the need of the hour. It works with the right mobile phone apps:
Lousy scam rips off Sparkasse customers
As if the difficult economic situation wasn’t bad enough, Sparkasse customers also have to fear crooks. With a particularly lousy rip-off scam, innocent citizens are currently being lured into the trap. To do this, the villains use fake e-mails that look deceptively real.