Savings: what the French are doing in the face of inflation
About every second Frenchman believes that a new economic and financial crisis is inevitable, according to the latest poll conducted by Patrimonia (wealth management fair, September 2022 in Lyon). However, 65% of savers have not changed their investment habits. They also think that they can manage their finances on their own without consulting a wealth management advisor.
The most pessimistic are young people aged 25 to 35
Every second Frenchman says he is convinced that a new economic and financial crisis will not be avoided, according to a survey conducted for Patrimonia, an exhibition for management professionals. By age, people between the ages of 25 and 35 are most afraid of this bleak prospect. The study also shows differences by region.
The collapse of prices for unprofitable assets
Due to rising interest rates, prices for non-profit assets such as cryptocurrencies are collapsing. (See The Crash of Cryptocurrencies, a major player in the sector, Binance, prepared for a $ 0 bitcoin collapse.) This may explain why young people are the most pessimistic, they are major investors in cryptocurrencies. 6% of French people would invest in bitcoin and others, which seems huge.
Inflation, the main threat
Inflation remains the main threat for respondents. Not surprisingly, almost 9 out of 10 people say they are afraid of it. Respondents are particularly concerned about rising energy prices and the impact on their budgets. A more striking fact: they also say that 40% have already begun to immerse themselves in their savings. “We were surprised by the size of this percentage. Especially since the survey was conducted in May at a time when inflation was just beginning to accelerate, “- adds Annelis Helmer.
Secure investments, euro funds, savings accounts
13% also invested or invested their savings in assets that are considered safer to avoid their disappearance in the event of an economic crisis, and 6% signed up for an appointment with a specialist to secure their savings. Only 3% of respondents are more courageous and try to invest more risky in the hope of gaining more benefits.
Funds in euros, as well as savings accounts will benefit fully from this increase in interest rates. Thus, these risk-free investments will become attractive again over the months. As for EU funds, the most reactive funds will have to wait until 2023. These liners are not smart for financing government bonds, and only new issues of government bonds with more attractive rates are offered.
In this uncertain environment, respondents are more likely to wait. 65% of them say they have not changed anything in their management habits. ” Quite paradoxically, when it’s time to ask about your finances “Annelis Helmer’s notes during the publication of the Patrimonia survey.
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