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Not all Germans engage in financial matters

Lack of Knowledge about Financial Investments

, and Administrator

2025 September 8 . 7:29 PM

2 min read

Multiple Germans Steer Clear of Financial Matters

Not all Germans engage in financial matters

In a recent survey conducted by Postbank, it was revealed that a significant number of Germans are keeping their money mainly in savings accounts, with comparatively little interest in financial investments. This trend can be attributed to a deeply rooted need for security and fear of losses in the capital market, stemming from historical experiences like the hyperinflation in the 1920s and post-World War II economic instability.

The survey, which involved 2001 adults, found that 34.6% of participants rated their personal financial knowledge as poor or nonexistent. Moreover, more than a quarter (26.7%) of the respondents admitted to not informing themselves about finances at all.

Despite young people's interest in financial topics, they, like the majority of savers, keep most of their money in uninteresting checking accounts, hoard cash at home, or prefer savings accounts where they can quickly access their funds. Among 18- to 24-year-olds, 29.6% value finfluencers as an important information source. However, more than three-quarters (77.6%) of survey participants do not consider finfluencers an important source of financial information.

The Federal Financial Supervisory Authority (BaFin) and consumer advocates have warned about false or partially correct representations on social networks, advising caution when it comes to investment tips on these platforms. Marc Tüngler, the chief executive of the German Shareholder Protection Association (DSW), recommends subjecting self-proclaimed financial professionals on the net to a thorough background check.

Thomas Brosch, head of digital sales at Postbank, advises critically examining every piece of information that leads to an investment decision. Financial platforms on the internet or advice from a bank are also options for about one in five. Those seeking advice on how to save or invest get it mainly from family or friends (23.8%).

The survey found that most of the 1529 savers surveyed named the checking account as where the largest portion of their savings goes. Coming in second is the savings account, with 5.1% preferring cash at home or in a safe deposit box. Self-occupied property is the choice for 10.2% of the surveyed savers. Stock funds and ETFs are the first choice for 10.4% of the surveyed savers.

It's worth noting that there's a trend among Gen Z to get into luxury watches instead of smartwatches, which could be of interest.

The source of the information is ntv.de, jaz/dpa.