Written by Birdee | Jun 7, 2017 4:00:00 AM
No not football. Savings. According to a study by BlackRock Asset Management, more than three quarters of the French (87%) and the Belgians (83%) regularly set money aside. This makes them officially the best savers in Europe.
Exactly how much are they squirrelling away?
According to another study from Expert Market using OECD data, the French save an average of €3279 a year – about 9 euros a day. The Belgians save slightly less per year – €2174 – a little less than 6 euros a day.
So how are they saving all this money?
Safely. Mainly in secure investments such as Livret A. Only 33% of the French invest in financial markets. The Belgians are slightly more interested in the markets – 42% put money in stocks and shares.
Why are the best savers not so keen on financial markets?
The risk. According to BlackRock, “savers associate the concept of risk with the loss of money". People feel they do not have enough knowledge to dabble in investing: in the survey only 28% of French people agreed with the statement "investing is for people like me." So how can Birdee help? At Birdee, we believe investment is for everyone, not just financial experts or those with deep pockets. Everyone should be able to make the most of their money and take on precisely the amount of risk they’re comfortable with. Birdee helps you do exactly that.
Come and try our virtual portfolio today to see how much you could make. It’s free and fun.