For the study, Crif surveyed around 1,000 consumers in Germany and a total of 5,000 in five European countries. 79 percent of Germans said they worry about their financial situation – slightly more than the European average of 78 percent.
28 percent of respondents expect their financial situation to worsen over the next twelve months. 38 percent expect to have less money at the end of the month, and 18 percent fear they will no longer be able to pay bills on time. Seven percent worry they may not be able to afford their rent or mortgage payments.
51 percent of Germans want to counter the uncertainty by saving. 32 percent plan to slightly reduce their spending, 19 percent even significantly. A quarter are paying more attention to discounts, and 15 percent are already dipping into savings to cover current expenses.
Crif managing director Frank Schlein said many consumers still feel financially pressured despite initial signs of stabilization. The sequence of crises has lastingly affected the sense of security – financial caution has become the new normal for many.
Source: www.tagesspiegel.de
