Although relief packages have alleviated the greatest need, the economic situation in Germany remains tense. High energy prices and inflation are burning a hole in citizens’ wallets. Savings bank boss Liane Buchholz knows that too. She reveals a shocking number that affects more Germans than one might initially believe.
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: 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 a month is no longer enough for many households to put money aside. The proverbial So nest egg faces an uncertain future.
In addition, more and more people are concerned about the expensive replacement of oil and gas heating systems.
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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.