Four out of ten people in Germany say they currently have less money than they did a year ago that they can freely use on a monthly basis. In a YouGov survey commissioned by the Nuremberg-based Teambank, a total of 43 percent of the 3,159 adults surveyed answered that their financial resources not budgeted for fixed costs were “somewhat lower” (25 percent) or “very much lower” (18 percent).
Rising prices, especially for energy and food, have been troubling consumers for months. Recently, general inflation has at least fallen significantly: In September, the annual inflation rate in Germany fell to 4.5 percent, the lowest level since the Russian war of aggression on Ukraine began in February 2022. Economists expect inflation to weaken further in the coming months.
According to the survey from June, a total of around one in five people currently has “a little” (14 percent) or “a lot” (4 percent) more money at their disposal than a year ago. A good third of those surveyed (36 percent) said the sum “stayed roughly the same.” The rest did not provide any information.
Many with reserves of less than 500 euros
When asked about the amount of reserves they had for unforeseen expenses, just over a fifth of the survey participants (22 percent) said they had at least 5,000 euros. For 17 percent it is less than 500 euros. According to their own statements, 9 percent of those surveyed have no money at all, while 8 percent said this in the comparison survey from January 2023.
47 percent of those surveyed say they know “exactly” how much money they have left each month after deducting all fixed costs such as rent, electricity, telephone and insurance in order to finance further expenses without a loan. 43 percent say they “roughly” know. 10 percent answered that they “didn’t know at all.”
