1,150 euros is already too much

Relief packages have alleviated the greatest need, but the economic situation in Germany remains tense for many people. High energy prices and inflation are burning a hole in citizens’ wallets. Added to this is the concern about the heating. Sparkasse boss Liane Buchholz knows how bad it really is. She reveals a shocking number that affects more Germans than one might initially believe.

Electricity and gas prices are gradually falling again and inflation is also on the decline. Nevertheless, for many Germans there can be no question of a sigh of relief. The past year has been tough and eaten into the wallets of many citizens. Liane Buchholz, President of the Savings Banks Association of Westphalia-Lippe, reveals how dramatic the situation really is.

Savings bank boss: third of people have no money for unexpected expenses over 1,150 euros

Because it is no longer just low-income earners who are affected. “The crisis has hit the middle class,” explains Buchholz (source FAZ). round the half of the people would meanwhile on their access savings70 percent put off major purchases.

While many people weren’t hit until 2022 by the combination of high energy prices and record inflation, others have been badly off for longer. Because even before the crisis year, “almost a third of all Germans no money to cover unexpected expenses over 1,150 euros“, so the bitter conclusion of the Sparkasse boss.

Buchholz had previously warned that even a net income of 3,500 euros per month is no longer enough for many households to put money aside. The proverbial So nest egg faces an uncertain future.

And as if the difficult economic situation wasn’t bad enough, Sparkasse customers have recently also had to fear criminals. With a particularly lousy savings bank scam, blameless citizens are currently becoming lured into the trap. To do this, the villains use fake e-mails that look deceptively real.

Saving is the need of the hour. It works with the right mobile phone apps:

State subsidies make heat pumps more expensive

The impending ban on oil and gas heating is causing further uncertainty among citizens. Because heat pumps are expensive and government subsidy programs even fuel the problem.