Saving money is considered a virtue in Germany. In other words, saving isn’t just a simple economic calculation, but rather is a value in its own right.
Experience shows that many people are inclined either not to save at all or save significantly less than they should to provide for their future. An established savings culture is needed to create a counterweight to that tendency.
A horrifying 40 percent of Germans say that they don’t save at all. But even those that do saver are clearly falling short of subjective goals in providing for the future.