The question of savings is at the heart of the concerns of the French, who seek to put aside to face the vagaries of life and build up financial security. What are the savings methods favored by our fellow citizens? Let’s analyze the figures to determine how much on average a French person saves each month.
The French and savings: a privileged relationship
According to the latest Odoxa-Groupama barometer carried out for Capital and BFM Business, 73% of French people manage to put a little money aside each month. This desire to save is explained in particular by the fear of inflation and a disputed pension reform, pushing the French to want to secure their financial future.
Livret A: preferred investment of the French
Among the favorite investments of the French, we find the livret A, with 55 million holders in France. Despite a fairly low interest rate, this account has several advantages, such as:
- The ability to withdraw deposited money and interest at any time
- Total tax exemption on interest (not subject to social security contributions or income tax)
These characteristics attract savers cautious about the risk of other investments.
How much is saved each month and in what form?
To determine how much a French person saves each month, different criteria must be taken into account, such as their financial capacities, their age or their professional situation. According to the Odoxa-Groupama barometer, 24% of those questioned declared saving between 1 and 10% of their monthly income. Remember that savings are not limited to the Livret A. Other savings products are also used by the French, such as:
- The Sustainable and Solidarity Development Booklet (LDDS)
- The Housing Savings Plan (PEL)
- Securities accounts and PEA (share savings plan)
- life insurance
Each of these products has its own specificities, and their choice will depend on the needs and objectives of the saver.
The remuneration of the Livret A: a significant increase to encourage savings
Since February 1, the remuneration of the Livret A has increased to 3% net, which represents a significant increase compared to the previous rates. This decision was taken on the recommendation of the Banque de France and the Ministry of Economy and Finance.
As a result, Livret A outstandings increased by €6.27 billion in February alone. With a return of 3% net, the interest paid can amount to 688.50 euros per year if your Livret A is full. About 7.8% of all Livret A accounts have reached their authorized limit, which testifies to the enthusiasm of the French for this secure and tax-free savings product.
How to optimize your savings?
To get the most out of your savings, you should diversify your investments and choose products that are suited to your situation and objectives. Here are some tips for maximizing your savings:
- Establish a monthly budget to determine how much you can save each month
- Compare different savings products and their interest rates
- Diversify your investments (bank accounts, life insurance, real estate, etc.)
- Stay alert to market developments and investment opportunities
The desire to save remains strong among the French, despite a difficult economic context. The means of preferred savings are varied, ranging from the Livret A to life insurance, through securities accounts and PEAs. However, everyone must take into account their financial capacities, their age and their professional situation to determine how much to save each month and choose the investments best suited to their needs.
Sources
2023-05-21 05:16:09
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