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Financial experts analyze: Why do almost half of Germans have less money than a year ago?
According to a report from www.dasding.de, almost half of people in Germany have less money left today than they did a year ago. This is according to a survey by YouGov, which surveyed over 3,000 people. A quarter of those surveyed said that they have less than 500 euros left over per month or even no money at all that does not have to be used for fixed costs such as rent or electricity. This decline in disposable income can be attributed to several factors. On the one hand, prices have risen, especially for energy and food. These price increases result in a larger portion of...
Financial experts analyze: Why do almost half of Germans have less money than a year ago?
According to a report from www.dasding.de, almost half of people in Germany have less money left today than they did a year ago. This is according to a survey by YouGov, which surveyed over 3,000 people. A quarter of those surveyed said that they have less than 500 euros left over per month or even no money at all that does not have to be used for fixed costs such as rent or electricity.
This decline in disposable income can be attributed to several factors. On the one hand, prices have risen, especially for energy and food. These price increases mean that a larger portion of income has to be spent on these expenses, which reduces the remaining amount.
On the other hand, the inflation rate in Germany has fallen, but it still remains comparatively high. In September, the annual inflation rate was 4.5 percent, which is the lowest level since Russia's war of aggression against Ukraine began in February 2022. Inflation directly impacts people's purchasing power and can result in them having less money for personal expenses.
Given this situation, many people are looking for ways to reduce their costs. This can be done, for example, by optimizing your budget by switching to cheaper alternatives or reducing unnecessary expenses. It is also advisable to set financial goals and create a budget to keep track of expenses.
The effects of this financial burden on people can also affect the market and the financial industry. When consumers have less money to spend, this can lead to lower demand for certain products and services. Companies may need to adapt their marketing and sales strategies to meet this changing consumer behavior. The financial industry can benefit from increased demand for advisory services and financial planning as people look for ways to improve their financial situation.
Overall, the YouGov survey shows that many people in Germany are faced with financial restrictions. Increased prices and persistently high inflation contribute to this situation. It is important that people control their spending and find ways to reduce costs to improve their financial situation.
Source: According to a report by www.dasding.de
Read the source article at www.dasding.de