Car repairs, moving house, job loss – unexpected expenses can arise at any time, but many Austrians have hardly any savings left.
Anyone who has set aside a nest egg for such unexpected expenses is well advised. But almost half of all Austrians have less than 1,000 euros saved and available, too little to absorb any major problems. Almost one in ten have no savings.
This is the result of TeamBank AG’s liquidity barometer released on Tuesday. According to the company, 1,771 Austrians, representative of the local population, took part in this study via an online survey.
Good overview of finances
But there is also light on the shadow: one in two people (48 percent) knows how much money is left each month net of fixed costs. Another 45 percent know at least approximately. Only a tiny 7% don’t have a plan for their finances.
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“It is surprising that 55% of the over 50s know their budget precisely, but only 35% of the under 30s,” says TeamBank. The conclusion: “So the generation that has yet to accumulate its reserves is not exactly within the framework of its financial room for maneuver and cannot plan how much it can save each month.”
Popular installment purchase
If the worst comes to the worst, those who still don’t have enough pillows seem happy to turn to installment purchases. Two-thirds (66%) of respondents think it makes sense for retailers to offer this option. “Experience has shown that when they buy in installments, customers want to decide for themselves when, where and how to use the services,” says CEO Frank Mühlbauer.
It can also be read from the survey data: 76 percent would like to be able to freely choose the duration and rate. Almost as many (75 percent) also want to keep the bureaucratic effort as low as possible. They expect a quick and easy graduation without having to teach a lot of paperwork first. Of course, the security of the offer must remain guaranteed. But you also need to be careful not to end up paying much more than the price of an immediate purchase.
By elevation
The “Liquidity Barometer Austria” study examines the liquidity, financial and spending behavior of the Austrian population. In March 2022, market research institute YouGov interviewed 1,771 people between the ages of 18 and 79 on behalf of TeamBank AG. The results are representative of status, age and gender. The population survey took place via an online panel. Together with the survey, TeamBank’s liquidity barometer was determined, which records the mood of the financial situation of Austrians
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