One-Third of Germans Cannot Afford Extra Expenses

Oct. 6, 2022 (EIRNS)—A survey carried out in 2021 already shows that for almost a third of people in Germany, unexpected expenses exceed their financial resources. This was before inflation and the energy crisis hit like a hammer on households. According to the German Federal Statistical Office, 31.9% of the population was unable to spontaneously raise 1150 euros or more from their budget last year. By comparison, this group was thus larger in Germany than in France (27.6%) and the Netherlands (15.1%). In Croatia, Romania, Greece, Cyprus, and Latvia, more than 40% of the population are in this situation.

The 40% of the population with the lowest incomes overall included people from single-parent households in disproportionate numbers, according to the statisticians. Almost two-thirds (64.6%) of them had a net equivalent income of less than €22,000 a year in 2021, and for a good third (33.2%) it was less than €16,300.

Many adults that live alone are found in the lowest income groups. More than half (53.2%) of this group survive on less than €22,000 a year, and just under a third (32.2%) of those living alone had incomes of less than €16,300. Among retired people, around half (50.1%) also had a net income of less than €22,000 in 2021, while almost a quarter (24.6%) had less than €16,300 at their disposal.

Figures for 2022 would show an even more disastrous picture.