DutchNews.nl - Dutch start using their savings

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Dutch start using their savings

Friday 27 January 2012

Hundreds of thousands of people have begun eating into their savings to keep up their current lifestyles, according to research by Friesland Bank quoted in the Volkskrant.

The survey, based on a representative sample of 1,000 people, shows the Netherlands' seven million households have four billion euros in savings - but that one million people are now taking money out of special savings accounts.

Of them, 400,000 need the money in order to make ends meet.

'The most surprising finding is that so many highly educated people earning more than €40,000 a year are affected,' said spokeswoman Tessel Horsman. 'They have not yet introduced structural changes to their spending patterns and still go on holiday twice a year or run two cars. People with lower incomes have already made changes.'

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Readers' comments

The last paragraph says it all. They are obviously living beyond their means and are prime candidates for getting into money troubles and then bankruptcy.

By Karl H | January 27, 2012 10:28 AM

4 billion euros for 7 million households means a saving of 571 euros per household. Doesn't sound right for me, am I alone in this?

By Mick | January 27, 2012 1:36 PM

pretty much what we have been doing for years....mortgage paid off first, car paid off, one car, one vacation every other year...food in season, house heated at 62F from Nov to April on Vancouver Island, clothing as needed, etc.

By canadian | January 28, 2012 12:31 AM