Survey among consumers: growing concerns about financial future

According to a survey, concern for your own finances is particularly pronounced in European comparison in Germany. In the survey for the information service provider CRIF in five European countries, the 1,000 participants in Germany expressed the slightest confidence with a view to the next twelve months. A total of 6,000 consumers were interviewed in Germany, France, Italy, Poland and Great Britain.

“The concern for your own financial future has arrived deeply in the middle of society,” summarif-Germany managing director Frank Schlein summarizes the German results of the survey from March. “Eight out of ten people in Germany are concerned about their financial future – that is a clear warning signal.”

About a quarter (24 percent) of the 1,000 respondents in Germany already have doubts to be able to pay invoices on time. Almost a third (31 percent) fear a further deterioration in your financial situation.

Increased costs for many are to be burdened

As the reason for the growing pessimism, CRIF refers to increasing strain on increased prices: For example, 32 percent of those surveyed stated that they had to spend more for rent or house financing than five years ago. Even in insurance companies and at the petrol station, a third of the respondents have to dig deeper into their pockets. The costs around the budget have increased for 44 percent of respondents in Germany.

The majority of consumers are therefore forced to reduce expenses. 59 percent of the respondents in Germany stated that they had become more economical in the past twelve months.