Financial crisis: it seems inevitable for half of the French, but 65% of savers have not changed their strategy, worried?

Savings: what the French do when faced with inflation

According to the latest survey conducted by Patrimonia (Wealth Management Fair, September 2022, Lyon), approximately one in two French people believes that a new economic and financial crisis cannot be avoided. However, 65% of savers have not changed their investment habits. They also think they can manage their finances on their own without the need of an asset management consultant.

The most pessimistic young people aged 25 to 35

Every second Frenchman believes that a new economic and financial crisis cannot be avoided, according to this survey conducted for Patrimonia, an exhibition for management professionals. Judging by the age groups, people between the ages of 25 and 35 are most afraid of this bleak prospect. The study also shows differences across regions.

The collapse of prices for unprofitable assets

As a consequence of rising interest rates, the prices of non-profitable assets such as cryptocurrencies are falling. (See Cryptocurrency crash, big player in the sector, Binance, braced for bitcoin to crash to $0.) This may explain why young people are the most pessimistic, they are the main investors in cryptocurrencies. 6% of the French will invest in bitcoin and others, which seems huge.

Inflation, the main threat

For respondents, inflation remains the main threat. No wonder almost 9 out of 10 people are afraid of it. Respondents are particularly concerned about rising energy prices and their impact on their budgets. A more startling fact is that they also 40% say they have already started diving into their savings. “We were surprised by the magnitude of this percentage. Moreover, the survey was conducted in May, when inflation was just beginning to accelerate,” adds Annelis Helmer.

Safe investments, euro funds, savings accounts

13% also invested or placed their savings in assets considered safer to keep them from disappearing in the event of an economic crisis, and 6% made an appointment with a specialist to keep their savings. Only 3% of respondents are more courageous and try riskier investments in the hope of making more profit.

Euro funds, as well as savings accounts, will fully benefit from this increase in interest rates. Thus, these risk-free investments will become attractive again after months have passed. For euro funds, it will probably have to wait until 2023 for the most reactive funds. These financial inserts of government bonds are not nimble, and only new issues of government bonds are offered at more attractive rates.

In this uncertain environment, respondents are more likely to wait. 65% of them say they haven’t changed anything about their managerial habits. ” Pretty ironic when it’s time to take an interest in your finances “Annelis Helmer’s notes during the publication of the Patrimonia poll.

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