on average, each German 1364 euros in cash at home or in a locker. Not with the money is attributed in your wallet, or an average of 107 Euro. The findings of a study by the Bundesbank, which was published on Monday in the monthly report.
Christian Siedenbiedel
editor in the economy.
F. A. Z.
Since the introduction of the Euro notes and coins in 2002, the Bundesbank, therefore, net 780 billion euros of cash in circulation. Because cash is anonymous, there is relatively little official statisticians, where the money remained. The study is based on survey results from the year 2018. Of the up at the time by the Bundesbank in the circulation of the 690 billion Euro have just found 423 billion euros abroad.
The transaction is cash, so in direct payments used money, have amounted to 58 billion euros. Some 200 billion euros were hoarded in the domestic companies and private individuals. About half of that, 94 billion euros, the study found that individuals that were more than 1000 euros per Person.
However, these Cash balances are distributed very unevenly. In the survey of 2000 German, 22 per cent claimed to have no cash reserve. 50 percent were 200 euros or less. 75 percent held the highest 500 euros. Amounts of more than 5000 euros, were indicated only in 5 percent of cases. The highest mentioned value amounted to 100,000 euros.
The very different amounts of Cash to have three causes, writes the Bundesbank. First, different preferences for cash and the book existed in the population of money. Secondly, the distribution of the cash spent stocks the distribution of income and wealth, which was itself concentrated. And thirdly, it might slow behind the Bar, different retention motives: Greater sums arise, for example, if cash will be held as part of the assets. Smaller sums were rather a kind of prudence Fund, which will be used in the foreseeable future again to Spend.
The amount of cash to take with age until 65 years, after that, tend to be observed lower amounts. This could be related to the fact that the people expenditure for retirement saved and the money then. In terms of the income it has been observed that higher cash holdings mostly in high-income close behind. Among the people with little cash but it’ll give both those with high as well as low-income. Among the occupational groups, the self-employed a lot of, officials had little cash.
