More consumption on credit, according to the study
The financial crisis and its negative impact on consumer behaviour seems to be largely over, at least with the German citizen, if one believes the current study of a large German Online Bank, in which 2000 German citizens from 14 years were questioned about their acquisition plans for the coming year. The study shows quite some interesting results.
For example, 54 percent of German consumers are planning to buy more in the near future, of which one in two would be willing to make this purchase with the help of a loan. The life on Pump or the use of any kind of credit seems to have a high degree of acceptance among the German citizens to date, although the Trend in this context is rather negative compared to a similar study carried out in spring 2015. For example, fewer German citizens are planning to purchase more than in the spring and also have a slightly lower overall Budget available.
Significantly less savings available than reserves
It is unquestionable that consumer behaviour is often also a matter of money available and it is precisely here that German citizens like and fully aware of the personally given financial framework. After all, around 54 percent of the participants in the representative survey state that they would like to spend more money than the actual financial scope allows. However, it is not surprising that only 14 percent are able to make planned expenditure without financial restrictions.
To make things a little more tangible: around 25 percent of German citizens have less than 625 euros in reserves for unexpected spending available. In fact, every tenth has no savings, which he could fall back on in the event of an emergency. Another third of consumers, however, between 625 and 2,500 Euro in Reserve. Thus, the bridging of any financial bottlenecks can often not be bridged from own resources and thus in many cases forces a loan or loan.
Consumers are open to credit
Thus, if a financial emergency occurs, many consumers are obliged to borrow because of insufficient reserves or at least insufficient reserves in the Situation. However, those who accept now that this fact gives the Germans about a certain discomfort here, based on the results of the study, disabused. The willingness to finance a purchase at least partially using a installment loan is extremely high at 48 percent. This willingness is especially given by the 22-to 34-year-olds.