The Statista market researchers got to the bottom of the financial behavior of German citizens in the report “Private Finances & Investments in Germany”. According to the information, the analysis is based on an online survey of 1036 people aged 18 and over who have a bank account. The survey was conducted from July 21 to August 1, 2020. It was also about the savings behavior of Germans.
Germans save a lot
According to Statista, these amounts are most frequently set aside by German citizens on a monthly basis.
# 1 201 to 500 euros
77 percent of the 1,036 survey participants said they are currently saving. Almost every fourth of these 802 respondents (23 percent) saved 201 to 500 euros of their monthly income.
# 2 101 to 200 euros
Around every sixth saver (16 percent) put 101 to 200 euros a month on the high edge.
# 3 51 to 100 euros
Monthly savings amounts between 51 and 100 euros landed just under third.
# 4 to 50 euros
Twelve percent of those surveyed saved a maximum of 50 euros a month.
# 5 501 to 1000 euros
After all, around one in twelve (eight percent) put between 501 and 1000 euros per month.
# 6 more than 1001 euros
Four percent of those surveyed said they even save more than 1001 euros a month.
The survey also showed, however, that many adults do not have an overview of their savings behavior. More than one in five (22 percent) could not estimate how much money they put aside each month. Most of the respondents saved for unexpected expenses (63 percent), larger purchases (51 percent) or – even a few months after the start of the corona crisis – for travel (47 percent).