The latest Research of the banca online N26 analyzed the impact of the current increase in the cost of living on the propensity to consume and save of its customers in Italy and in Europe. According to what was revealed, the research involved about 5 European countries, analyzing and comparing the consumption data e savings in the use of current accounts by its customers, from January to August 2022.
The research of the N26 online bank on savings
Among the countries considered, theItaly ranks fourth per percentage of income saved.. In the first place we find the Spain (6%), followed by Germania (5%) e Austria (4%), while the France it ranks last (0.1%).
In comparison with its European neighbors, moreover, the savings habits of Italians They seem to be the most affected by the increase in the cost of living. In fact, Italy appears to be the country that registered the largest decline in average savings with respect to income. Since March 2022, Italians have set aside on average the 78% less of your incomecompared to the first two months of the year.
The situation is completely opposite with respect to German savers, for example. The Germans are in fact i less affected by the high cost of living. Also, always starting with March 2022Germany has indeed registered the smallest decline in the average amount saved (-49%).
Research from N26 also shows that, at the European level, they are women to save more.
As for local data, Bologna is at the top of the savings chart, followed by Napoli that beats Milano. According to the research, in fact, Neapolitans save on average almost 26 euros per monthwhile the Milanese are at an altitude 19 euro.
The impact on spending habits
In response to the high cost of living, the analysis of the first months of 2022 shows a partial change in the spending habits of Italians. In fact, it seems that the Italians have cut leisure expenses e entertainment (-15.1%) registering the most marked decline in this category.
However there are some sectors that have not undergone any decline. In fact, in the summer months the Italians concentrated their expenses in trips e displacementssegment that recorded the highest increase in percentage terms among those analyzed (+ 107%).
The increase in prices also significantly affected the expenses of Italians relating to the management e maintenance of the carin general on the expenses for transport and to fill the supermarket trolley.
Among the product categories impacted in other countries in Europe, the expenditure relating to the sectors stands out in particular media ed electronicsgreatly reduced in both Germania (-7.9%) than in Austria (-15.4%). In both countries, the media and electronics segment is the only one among those examined that has seen a decrease in expenditure both in absolute terms and as a percentage of income.
In this direction, in addition to specific features of N26 dedicated to budgeting it’s at specific advice to save on gas bills, the bank makes a monthly budget calculator available on its website.