Thank you Germany: Part 051: Frugality is a German virtue

An important characteristic of the Germans is their thriftiness. This virtue is supported by many institutions in the country. From piggy banks to building society savings contracts, from targeted planning to building a house or leasing a car, the right options are available everywhere for well-financed purchases that don't take on too much. Both small and large projects can be financed in a targeted manner. And there is less financing that leads people into misfortune.

The quality of savings also has an economic impact. It ensures that many people save specifically for major projects. Many Germans know exactly how to organise their budget so that they can fulfil an important wish in the near or distant future. Even big dreams, such as building their own house with a beautiful garden, can be fulfilled in this way. As an economic partner, companies from Germany offer reliable co-operation. In this co-operation, you can rely on the fact that the cost calculation is always correct. This is appreciated by many companies worldwide.

In other countries, people often calculate with too much risk or spend too much money in everyday life. You can also spend money and enjoy life in Germany, but slightly fewer people go into debt to do so. The special experience of saving thus contributes to the general stability of the economy as well as improving the quality of life and future planning of individuals. Saving is often taught to children in Germany. With the good German piggy bank or precise planning of pocket money, children learn to handle money responsibly. This teaches important economic skills.

As adults, people therefore plan specifically for certain projects. Some future investments are also organised very precisely. The ability to save helps Germans to do this and is very present in everyday life. Many supermarket chains cater to the preference for saving with special offers or promotion weeks. Sifting through these and finding the best bargain at the right time and in the right place is one of the country's favourite hobbies. There are probably few other countries where the majority of the population is so good at saving money.

A solid investment in your own savings account as well as a long-term investment in the stock market are equally important investment opportunities on the German financial market. You simply have to love the country and its people for the Germans' personal ability to save. Here, people don't save at the wrong end, but where it makes sense.