On average, Austrians have savings for around three dozen washing machines on their side. The money could be used more sensibly, says Oberbank boss Franz Gasselsberger and points to the loss of purchasing power.
SN / what (dpa)
Having savings for washing machines on the side is good. But it could also be too much.
In times of the pandemic, Austrians save like never before, the savings rate this year is 14.9 percent. On average, every Austrian has 40,000 euros in savings accounts to buy the famous washing machine. “But to make provisions for around 36 washing machines, that is perhaps a bit much,” says Oberbank General Director Franz Gasselsberger. Because what people often do not take into account is the huge loss of purchasing power: in the last ten years it was ten percent for money in savings accounts.
Interest rates will remain low, and …
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Accessed on November 1st, 2020 at 10:06 am on https://www.sn.at/wirtschaft/oesterreich/sparen-36-waschmaschinen-sind-zu-viel-94928899
