Financial knowledge: rather loans than shares

Financial transactions are varied and range from ATM withdrawals and loans to investment in equities. The Germans feel much more competent in some areas than in others. 

Borrowing Credit: For the German everyday life

Borrowing Credit: For the German everyday life

Respondents should indicate which financial transactions they can easily trust. The choices were:

  • Make a transaction
  • withdraw money
  • make an insurance
  • Apply for credit
  • Complete private pension
  • Invest in stocks or funds

The general tendency is that everyday money transactions are easy for the Germans, and the majority of Germans do not worry about doing something wrong when withdrawing or transferring money. About 95 percent know that they can do it. Investing in stocks or funds, on the other hand, makes many people shy away – only 55.1 percent dare to do so. Respondents rate themselves somewhat more confident in their approach to private old-age provision – 75.2 percent are convinced that they will be able to conclude this. Surprising for the researchers: Nearly 80 percent have no difficulty borrowing.

Feeling financial literacy increases with age

Feeling financial literacy increases with age

With increasing age, the Germans also increasingly dare to major financial matters. While just 38 percent of under-30s know how to handle funds, over-60s account for 59 percent.

Even among the under-30s, already good 55 percent dare to complete a loan. In the over-60s, it is even close to 88 percent.

Taking out credit is easier than retirement


The researchers suspect above all a psychological effect as a cause: money can now even withdraw in the supermarket, take out loans immediately online and how to make a transfer is almost self-explanatory. These things are not only simple, but also allow for immediate consumption. On the other hand, old-age provision and other investments will only bear fruit many years later. Above all, the experts believe that this is the reason why Germans are more afraid of these financial transactions.


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