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Young Germans 'happy to be bourgeois'

The Local · 29 Oct 2012, 14:15

Published: 29 Oct 2012 14:15 GMT+01:00

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Many genuinely want the clichéd own home with a garden, a sociology professor said on Monday, adding that people between the ages of 17 and 27 were becoming increasingly worried about the future.

“For the majority of young people, it is no longer a term of abuse when one says, ‘You’re bourgeois’,” said Klaus Hurrelmann, professor at the Hertie School of Governance in Berlin.

"Young people increasingly value financial security, even though they are not necessarily more conservative politically,” he told Die Welt.

Yet they are also ignorant of how financial products work, and what is available, he said, appealing for greater education about money and finances. He said young people must be able to take a view on different forms of retirement plans.

Germans are generally saving more money in these uncertain financial times, the Bundesbank said on Monday. The amount of money stashed away in private hands has increased to a record €4,811 billion over the second quarter of the year, it said.

This was an increase of 0.2 percent on the previous quarter. The relatively small climb was due to losses on the capital markets, the Bundesbank said.

Story continues below…

The Local/DPA/hc

The Local (news@thelocal.de)

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Your comments about this article

14:54 October 29, 2012 by catjones
Not sure why today's pursuits are 'frivolous'. The problem with the future is that it's always in the future.
16:40 October 29, 2012 by raandy
This record record €4,811 billion, was saved by people under 35? or was it a result of Germans are richer now than ever? The number with out the age and income break down does not mean people are spending less on "frivolous pursuits ".

How about some age and income stats.

It states the relatively small climb of .02 is due to losses in the market, most people I know under 35 have little invested in the market.
17:11 October 29, 2012 by Englishted
Is this just one mans opinion or can he produce some figures to back it up?
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