Weltspartag: How Germans Invest Their Money

Germans are known for their frugality and saving habits.

On Weltspartag (World Savings Day), which is celebrated on October 31st, Germans traditionally take stock of their savings and make plans for the future. In 2022, the average German had €53,827 in savings, according to the German Savings Banks Association (DSGV).

This is a significant increase from the €46,742 average savings in 2021. The increase in savings is likely due to the COVID-19 pandemic, which has led many Germans to save more money due to uncertainty about the future.

Germans prefer to save their money in safe and low-risk investments.

The most popular savings products in Germany are savings accounts, which offer a low but guaranteed return on investment. Germans also invest in fixed-term deposits, which offer a slightly higher return but lock in your money for a set period of time.

Other popular savings products in Germany include Bausparverträge (building society savings plans) and Lebensversicherungen (life insurance policies). These products offer tax advantages and can be used to save for specific goals, such as buying a home or retiring.

Germans are increasingly investing in sustainable and ethical investments.

In recent years, there has been a growing trend in Germany towards sustainable and ethical investing. This is due to a number of factors, including the increasing awareness of climate change and the desire to invest in companies that are making a positive impact on society.

There are a number of different ways to invest sustainably in Germany. One option is to invest in companies that are listed on the FTSE4Good Index Series, which tracks the performance of companies that meet certain environmental, social, and governance (ESG) criteria.

Another option is to invest in green bonds, which are bonds that are issued by companies or governments to finance projects that have a positive environmental impact.

Conclusion

Germans are known for their frugality and saving habits. The average German had €53,827 in savings in 2022, which is a significant increase from the €46,742 average savings in 2021.

Germans prefer to save their money in safe and low-risk investments, such as savings accounts and fixed-term deposits. However, there is a growing trend towards sustainable and ethical investing in Germany.