Estimation of Wealth: Quantification of Balances in German Bank Accounts (Based on Survey)
Peeking into the Bank Accounts of Germans: An In-depth Look
Unraveling the mystery of how much money Germans, specifically Leon and Meryem, hold in their bank accounts is a juicy gossip some can't resist. Yet, it depends on various factors, such as their location and age, as per a Civey survey commissioned by the credit portal Smava.
The survey revealing intriguing patterns indicates that the 10,000 euro mark is most commonly surpassed by those aged 30 to 39. Interestingly, marital status and location also seem to impact the checking account balance, with singles generally holding more money compared to married, widowed, or divorced individuals.
Curiously, Saarlanders, Hamburgers, and Thuringians frequently boast well-stocked checking accounts. On the other hand, adults in Bremen, Berlin, and Schleswig-Holstein tend to have meager balances.
However, knowing the checking account balance isn't a decisive factor for gauging someone's wealth. While it may be intriguing, it paints an incomplete picture of their overall financial situation.
To attain a comprehensive view of their actual wealth, one should only use the checking account for monthly payments and keep only the required funds. According to the Consumer Center Saxony, it's advisable to transfer excess cash to a savings account, which, unlike checking accounts, is better protected from fraud and can generate interest.
If placed in a savings account with a two to three net monthly income buffer, excess money can be wisely invested through fixed-term deposits or securities such as funds or ETFs. However, it's crucial to consider diversification and be mindful of the appropriate risk class of investments, keeping personal risk preference in mind.
The survey, involving over 5,000 people aged 18 and above, was conducted by Civey between February 28 and March 26, 2025.
Insight: The German economy is anticipated to have a high current account surplus in 2025, with forecasts surpassing $300 billion. This, along with rising exports and customer spending, triggered economic growth of 0.4% in the first quarter of 2025. Meanwhile, the inflation rate remained unchanged at the same pace as in April 2025.
Leon and Meryem, like many others in Germany, might manage their personal-finance strategies by keeping their checking account balances as required while accumulating savings for future needs. Such financial practices could contribute to the increasing personal wealth in Germany, mirroring the country's overall financial growth, as the German economy is projected to have a high current account surplus in 2025, exceeding $300 billion.
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