Financial independence has gained new relevance for many people in Germany. Recent surveys show that almost half the population, precisely 49.1 per cent, assesses their own financial situation as worse compared to that of their parents' generation. In contrast, 25.1 per cent of respondents rate their situation as better. These findings stem from a representative survey conducted by the social lottery freiheit+ among 1,000 participants in Germany.
The study results indicate that a reduction in financial leeway leads to far-reaching consequences. These affect not only individual daily life but also dynamics within families and even expectations in partnerships. The family often establishes itself as the primary financial backstop. A significant proportion of 21.2 per cent of Germans provide financial support to relatives. At the same time, 15.8 per cent of the population themselves receive financial help, while 8.1 per cent experience both situations simultaneously.
Financial support within the family has become an integral part of daily life for many. Parents are particularly often the ones who support their children: just under half, exactly 49.9 per cent, of people who financially support relatives, help their own offspring. This assistance primarily serves to cover ongoing expenses, which underscores the existential importance of this support.
- —42.4 per cent of respondents use the support for groceries.
- —29.6 per cent use it to finance rent or housing costs.
- —24.8 per cent cover mobility costs.
- —Other items include travel or leisure (18.3 per cent), clothing (18.0 per cent), and insurance (17.0 per cent).
Expenses for debts or loans (14.5 per cent) as well as for children and family (12.9 per cent) are also financed through this assistance. A significant reason for the need for financial support often lies in the employment status of the recipients. Almost a third, precisely 29.6 per cent, of people receiving support are currently not employed. Financial dependency has implications for both sides, both recipients and providers.
For 46.6 per cent of recipients, family support is essential to maintain their previous standard of living. It is striking that 79.1 per cent find this support uncomfortable and 39.9 per cent do not talk about it. On the part of those providing support, 60.9 per cent state that they often, or at least sometimes, have to forgo their own wishes or major purchases. This dynamic highlights the complexity of the situation for all involved.
The survey results also shed light on the importance of financial independence in the context of partnerships. Overall, 76 per cent of Germans consider financial autonomy to be important. Over half, 50.4 per cent, of respondents cannot imagine a relationship with someone who regularly receives financial contributions from their parents. The relevance of financial independence is more pronounced among women, with 42.4 per cent considering it "very important" compared to 23.2 per cent among men. Conversely, 24.3 per cent of men consider financial independence to be rather unimportant, compared to 10.5 per cent of women.
Kai Töpel, Managing Director of freiheit+, commented on the results by emphasising the value of financial independence for many people. He highlighted that the fact that almost 30 per cent of Germans either financially support relatives or receive family help themselves demonstrates the commonplace nature of this support within families. At the same time, it becomes clear how crucial financial flexibility is for a self-determined life.
