Preparing for retirement or a professional project, financing an expensive project… The French remain big savers.
But there remain paradoxes: nine out of ten French people live on credit and many leave their money in current accounts.
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Manage your savings well
86% of French people save at least once a year. According to the French Banking Federation, the savings rate of French people is around 17.5% per month. In other words, this is the income set aside, which represents on average 260 euros per month.
A study, carried out by the savings manager Yomoni among 4,500 people representative of the French population, nevertheless raises paradoxes. 45% of French people surveyed are thinking about stopping saving and 16% never put money aside. People who spend lavishly recognize that their loved ones call them to order: 37% of them feel they are under heavy pressure from those around them.
Another study, carried out by the IFOP in 2019, traced the profile of these French people who do not save: consumerists are mainly recruited among young adults (41% of 25-34 year olds), 38% of them live alone and have high financial resources.
Financial difficulties
Despite the money saved, more than 88% of those questioned said “have financial difficulties to maintain their lifestyle”. The French Banking Federation reveals that 46% of households repay a loan (real estate or consumer). Not so surprising difficulties: the French save around 72,000 euros. A figure not so high compared to our European neighbors.
The French prefer to keep their money in an uninteresting current bank account, rather than investing it. These funds remain immediately available in the event of unforeseen expenses, but they do not allow you to build up savings. The Banque de France estimates these sight deposits at 554 billion euros for all French people.
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