It seems that we return to the paths and that our pockets begin to forget about the skinny cows of the crisis. Thus, it turns out that once again we put in the drawer the wise habit of saving and return to unbridled consumerism and, what is worse, we go back into debt with the request for credits that we allocate to the purchase of goods.
In short, everything seems to indicate that we hardly remember that until recently we were with water to the neck. In our comparator of loans and bank accounts we echo the phenomenon and we will see what exactly is happening.
In addition, you will see that knowing how to knead a small capital says more about you than you imagine, because, sometimes, behind a large consumer hides an immensely unhappy person.
Does nobody want to save anymore?
The data that show this trend are these. Specifically, in 2015 Spanish households – with great sacrifice – managed to save 27,182 million euros. A year later, and although our economy had improved dramatically and employment was created, savings declined to 21,024 million. To top it off, in 2017 we continue to see a crash in savings.
Not surprisingly, we are dangerously approaching the savings rate that existed before the crisis. According to Raymond Torres, joint director of the Foundation of Savings Banks (Funcas), “this reduction should worry.” In his opinion, it is time for wages to recover part of their purchasing power and, in this way, prevent savings from continuing to finance household consumption.
Unfortunately, our salaries do not seem to pick up, at least in the short or medium term.
Who are the most savers?
If there were an Olympic discipline dedicated to saving, we could hardly reach a decent position the Spaniards. In fact, according to a study prepared by Kantar, France and Germany would rise with gold and silver as they are the most sensible countries with spending. The truth is that in both countries they are very friendly with savings accounts. Specifically, 80% of French people have an account for this purpose, while 73% of Germans also have one.
Nor do the British with 61%. The Spaniards, by the way, defend ourselves with 57% convinced of the savings accounts.
Although, without a doubt, outside the European borders we would run into China where 87% of consumers have a savings account. A pretty overwhelming majority, right?
Saving, a matter of vital importance
With the arrival of the crisis, we all threw ourselves into the arms of saving since we saw the wolf’s ears. Unfortunately, others were not even given this opportunity and were indebted to their eyebrows for mortgages, loans and others whose payment they could no longer afford.
However, those who were willing to do so did not hesitate and threw themselves into savings since the future was uncertain. Of course, it is more than obvious that saving is not easy and that it costs us a world.
In fact, experts call the saving of deferred consumption and the human being has a hard time deferring the perks, waiting patiently for the moment of his enjoyment since we all want to have a product immediately. Specifically, this behavior is explained perfectly with the theory of hyperbolic discount; that is, the future reward has less value for the person than the current reward.
As in everything, the sooner we start to save, much better since it will involve less effort.
Do happy people consume less?
Yes, at least that seems the conclusion reached by certain thinkers as Professor of Economics at the University Paris-Sud, Serge Latouche. In his opinion, “we live phagocytosed by the economy of accumulation that leads to frustration and wanting what we don’t have or need.”
In addition, he argues that the current model of consumerism is unsustainable due to the lack of resources on the planet. In sum, Latouche proposes to live better with less. But are we able to do it?
From this statement we can deduce that if we achieve full happiness we can save effectively and devote our capital to what really matters, and not lose it in trifles of ephemeral enjoyment or little relevant to our lives.
Also, a survey conducted by Ally Bank seems to delve into this line. Specifically, this study ensures that having ample resources saved predisposes people to a higher level of tranquility and ability to face an uncertain future. In fact, that capital makes them proud of the financial effort and reports a sense of independence.
Of course, this statement does not imply that we do not spend anything, but, as stated in a Wall Street Journal publication, it is about knowing how to use the money and, even more, what to spend it on.
Save to be happy
In short, after all the above it seems that the road is clear: we must save to be happy. The truth is that a life of unbridled consumerism and full of expenses that do nothing but diminish our accounts can betray a great unhappiness.
From our online credit comparator and bank accounts, we recommend recovering the savings path, not allowing ourselves to be tempted by superfluous expenses and trying to stick to our income level. Do you see yourself able to save? Do you see yourself able to be happy?