Weakening euro and increasing inflation: difficult times for consumers

Weakening euro and increasing inflation: difficult times for consumers

The European Community currency remains weak. What boosts exports makes life increasingly expensive for consumers in Germany, the progressive inflation increases this development. Thus, the euro is currently more curse than a blessing, an end to the descent is currently not foreseeable. But what does this development mean specifically for consumers and what are the possibilities of protecting their assets and preserving further loss of value?

inflation makes savings at

If you are currently driving your money on the bench, you can almost watch the creeping loss of value, the euro gradually loses value. In view of the lack of alternatives, quite a few opt for an investment in stocks or other investment values. In this context, cryptocurrencies are also becoming increasingly popular.

and not only as an investment object, also as a real means of payment, cryptocurrencies pick up speed. In comparison to other countries, Germany is still lagging behind, but also more companies and retailers are accepting in this country, both online and offline payments in Bitcoin and Co. Although not every cryptocurrency is suitable for actual use as a means of payment, these digital currencies are at least theoretically a conceivable alternative when it comes to making payments without the current finance policy of the ECB . Cryptocurrencies develop regardless of the course of real currencies.

cryptocurrencies more as an alternative value system as a means of payment

The biggest problem of most cryptocurrencies is and remains the high volatility, i.e. the high price fluctuations that can take place upwards and downwards. As long as this problem has not been resolved, digital currencies for the general mass will not be considered as a daily means of payment, but as an alternative value system. If you look at the performance of many large cryptocurrencies, there is a long -term increase in value, even if there is always a big up and down in between. However, this does not protect consumers from the current increasing costs.

These are mainly made up of posts such as rent, energy, food and transport. Since this condition has been in effect for some time, the financial reserves or reserves of many people have already been consumed. In the event of urgent purchases or sudden financial bottlenecks, it can often no longer be used for your own financial cushion.

interest for consumer loans at the highest level

For many, only the inclusion of a loan is a sensible bridging in order to make urgent payments promptly. However, the interest rate level for consumer loans is at a historical high, which makes a precise comparison of the offers of the different banks and financial service providers to choose from. Online portals, such as KreditGleIC24 , enable such a comparison in no time and make the manual comparison of the individual offers.

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It can be assumed that consumers cannot expect improvements to the current situation at short notice. Precise forecasts are difficult to make, but the situation will relax for a long time. Until then, consumers with low incomes in particular are severely affected by the high price level. If you want to bring your savings to safety, you should therefore look for sensible alternatives to fixed deposits and call money accounts.