Current situation report: Germans have these money worries in the corona crisis | message
Few citizens fear that they will no longer be able to pay installments
The economy is currently on the back burner. Due to the health protection measures, many shops, stores and companies had to close or severely restrict their operations. The employers are therefore financially stricken by the pandemic. This more or less strong imbalance is therefore also transferred to the employees. So it stands to reason that many people are currently worried about the continued existence of their jobs and the income.
In view of these possible fears, Civey asked the survey participants “whether the corona pandemic might mean that credit installments could not be paid”. The result at the time of April 21 is definitely a relief. Only 3.9 percent replied that they can no longer service their liabilities. 4.2 percent also think a failure is likely. The biggest concerns come from workers in the craft and automotive industries. On the other hand, 70.2 percent of those surveyed were completely unimpressed. The Corona crisis had no effect on their loans. Another 16.7 percent consider payment difficulties unlikely.
No more money is being saved or invested at the moment
When answering the question of whether it is necessary to save more money in the current situation, the participants split into two camps of almost the same size. 40.3 percent of those surveyed said that more money had to be saved at the moment. 43.5 percent disagreed and see no reason for increased savings. When evaluating the answers, it is striking that mainly young people save more. Older people tend to have less need to put aside larger amounts than usual.
In mid-April, there is evidently great uncertainty in the choice of the right investment for the German population due to the crisis. The majority of the respondents (37.6 percent) would therefore not invest any money at the moment. Trust in real estate (21.1 percent) is greatest among those who decide to invest, closely followed by ETFs and funds (19.3 percent). However, 16.7 percent prefer to buy shares. Gold, precious metals and other raw materials occupy fourth place in the preferred asset classes with 15.3 percent.
The fear of your own old-age provision
A survey by the “German Federal Consumer Association” (vzbv) provides a picture similar to that of Civey’s live management report. Accordingly, there are certain concerns in society, but they are not too difficult. Nevertheless, Klaus Müller, CEO of vzbv, warns that the existing uncertainties and fears should not be neglected: “The majority of consumers do not seem to be overly concerned about the Corona crisis. That is good, but should not hide it, that health and financial worries are of particular concern to many people, especially in households with lower incomes. ”
According to the results of the survey, people are particularly worried about their own pensions. One in three fears that private pensions will lose value due to falling prices and low returns. In households with a net income of between 1,500 and 2,500 euros, the share was even 49 percent. In addition, one in four fears that he will no longer get the money he has already paid for trips and events. “Politics are currently doing a lot of things right. But they have to take consumers’ concerns seriously. Ideas such as compulsory vouchers for canceled trips are going in the wrong direction. Consumer rights must not be weakened in the crisis either. As for companies, consumers need suggestions and specific ones Offers to make ends meet, “explains Klaus Müller in the press release on the survey. In order to protect the citizens from a financial emergency, as many as 93 percent of the consumers surveyed want politics to provide those affected with unbureaucratic help.
Editorial office Forex-news.com.net
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