© APA – Austria Press Agency
Gerda Holzinger-Burgstaller regrets that many people still invest at low interest rates. A combination of savings account and securities would be correct.
The days of zero interest rates are over, but many people still shy away from investments with higher returns. This is shown by an Imas survey by Erste Bank among 1,800 Austrians. “50 percent still keep their money in their checking account,” says Erste Bank boss Gerda Holzinger-Burgstaller. Many people are not aware of the loss of purchasing power, others consciously accept it for the sake of security.
© Image: Kurier/Gerhard Deutsch
“But even with 3 or 4 percent interest on savings accounts, there is a loss of purchasing power,” says the banker. “If you want to invest profitably, you can’t avoid securities.” A combination of both products is the right answer. However, only a third of those surveyed are interested in securities.
➤ Read more: Why savings accounts are still a losing proposition
Eight out of ten Austrians say it is important to them to put money aside. So it’s not surprising that the number of people who don’t save at all has fallen compared to the previous year – from 8 to 2 percent. Three quarters of savers do this for emergencies, 60 percent for longer-term financial provisions and 55 percent for larger expenses such as vacation, car or property. That’s an increase of 10 percentage points. The average monthly savings amount is 307 euros, although men can put aside significantly more (347 euros, women 268 euros).
Well-informed anytime, anywhere
Secure unrestricted access to all digital content from KURIER: Plus content, ePaper, online magazines and more. Try your KURIER digital subscription now.
2023-10-18 03:13:43
#Erste #boss #percent #money #checking #account
