Corona pandemic: The classic savings book is more popular than it has been for a long time - according to the survey

Although the slack interest rates are gnawing at their savings when inflation has risen, many people are stashing their money in their checking accounts, savings accounts or at home.

Saving is the order of the day in the

.

Although the

interest rates are gnawing at their savings as

, people are stashing money in their current accounts, low-interest savings accounts or at home.

According to calculations by DZ Bank

The financial assets of private households from bank deposits, bonds such as bonds, bonds in funds and insurance companies in the amount of around 5.1 trillion euros are likely to lose more than 116 billion euros in value this year.

That is an average of around 1,400 euros per person.

Because of the

, many people were

their

.

Trips were canceled, and the temporary closure of restaurants and shops slowed consumption.

According to a survey by Postbank, 79.8 percent of people in Germany are currently saving.

The last time it was more was in 2016 with 80.4 percent.

"Due to inflation, money gradually loses its value and especially when it is in non-interest-bearing accounts or even kept at home," said Karsten Rusch, an expert on securities at Postbank.

However, every third saver is unaware of this relationship.

"In the low-interest environment, you can't avoid investing in stocks and funds if you want to compensate for inflation," said Rusch.

Also read

Savers in corona crisis mode: current account and savings book popular

Nonetheless,

and

 more popular than ever since the first Postbank survey in 2011. Currently, 62.5 percent of savers park money in non-interest-bearing current accounts. Ten years ago it was only 38.2 percent. Almost every second saver uses a

, which is also a high.

According to the survey,

the

has also increased, although more and more credit institutions are passing on the negative interest that they have to pay for money parking at the European Central Bank (ECB) in whole or in part. According to this, 37 percent of savers put money into the overnight money account (2011: 25.7 percent / 2020: 20.1 percent). More than 30 percent are stashing money at home (2011: 20.7 percent / 2020: 20.6 percent). Multiple answers were possible.

A Yougov survey on behalf of the comparison portal Check24 also came to the result that in the course of the pandemic, above all, the amount of money invested

and in the form of

has increased - even for larger sums.

Accordingly, 34 percent of the consumers surveyed said they had more than 5,000 euros in their current account or in the form of cash.

With four percent it was even more than 50,000 euros.

Also

Germans are more likely to be shy about the stock market

It is true that savers in Germany who are considered to be rather shy of the stock market are increasingly investing in

and

.

In the Postbank survey, a good 31 percent said they also

bet

on

(2011: 17.3 percent / 2020: 29.9 percent).

According to calculations by DZ Bank, shares accounted for just 8.7 percent of private financial assets despite strong price gains in the first half of the year and acquisitions.

Also interesting:

Low interest rates and increased inflation

According to economists,

is likely

to fall again in the first half of 2022.

Most recently, it had risen above the 4 percent mark in Germany for the first time in almost 28 years, also due to special factors such as the introduction of the CO2 tax at the beginning of the year.

According to DZ Bank expert Michael Stappel, however, a

slight increase in

can only be expected in the long term.