“Self-determination barometer”
Only one in two people feel financially self-determined
Germany is still a wealthy country by international standards. But many people don’t feel they have enough money to feel self-determined.
According to a new survey, price increases, rental costs and income that is perceived as being too low are the three factors that have the greatest impact on financial satisfaction in Germany. In the new edition of an annual survey by life insurance company Swiss Life, half of the 1,000 respondents said they felt financially self-determined. Almost two thirds (64.1 percent) cited price increases as a limiting factor, followed by rents including heating and electricity costs (37.7 percent) and insufficient income (36.6 percent). The Bilendi survey institute surveyed the German participants on behalf of the company in July.
Cost of living is a burden for many
According to the survey, there is a clear connection between financial situation and the feeling of being able to shape one’s own life: Half of those surveyed answered that a better financial situation would help them to lead a more self-determined existence.
On the other hand, only just under 38 percent said that their financial situation enabled them to lead a self-determined life. “The high cost of living continues to put a strain on households and at the same time poverty in old age is a serious issue in Germany,” said Swiss Life Germany boss Dirk von der Crone. There is also a difference between the genders: 53 percent of men feel financially self-determined, but only 48 percent of women.
Wealthy parents are helpful
Parents also play a role for quite a few people in adulthood: 15.3 percent admitted that they do not expect an inheritance – and this is one of the factors that impair their financial self-determination. The Swiss company surveyed the “self-determination barometer” for the sixth time. 57 percent said that they feel they lead a self-determined life – again slightly more than in the previous two years. This value includes several other aspects of life in which large majorities feel self-determined, including family and relationships, friends and leisure time.
dpa
Source: Stern
