In the box or under the mattress
Hoarding cash at home is the third most popular form of investment
Almost every twelfth person hoards a lot of cash or even all their assets at home. A study breaks down where the Swiss keep their savings.
According to a study, storing cash at home in a cash box or under your mattress is the third most popular investment method in Switzerland following private accounts and savings accounts. Almost every twelfth person hoards a lot of cash or even all their assets at home.
This is the result of a Moneyland study published on Tuesday on the investment behavior of the Swiss population. Eight percent of the study participants stated that they keep a lot or even all of their money at home. However, the burglars have to find out for themselves where the emergency items and coins are – this is not clear from the study.
All in all, cash at home is the third favorite form of investment for the Swiss. Nearly three-quarters (71 percent) of respondents keep cash at home. However, in almost half of the cases (42 percent) these are only small amounts of money.
Personal account is at the top
Apart from the money under the pillow, however, two very classic forms of investment are the most popular: The private account is at the top, followed by the savings account. Almost 90 percent of respondents said they keep money in their personal account, 83 percent in their savings account.
According to the announcement, this is followed by provision in the form of pension funds, 3a pension funds or securities solutions and third-pillar savings accounts. More than half of those surveyed invested at least part of their money in this way.
The pension funds and securities solutions in particular have become more popular compared to the previous year, according to the statement. “This is likely to be mainly due to the low interest rate environment,” Moneyland Managing Director Benjamin Manz is quoted as saying in the statement.
Cryptocurrencies more popular
18 percent of survey participants said they invest some of their money in cryptocurrencies. Alternative cryptos in particular – other than Bitcoin – have gained in popularity.
According to the report, a good quarter of the Swiss population also holds gold as an investment – albeit the majority only in small amounts. “That’s probably a reaction to global inflation,” comments Manz. The precious metal is commonly regarded as an inflation hedge.
A quarter of those surveyed also own shares. However, the authors of the study found that men invest money more often than women in all forms of investment. More than twice as many men than women invest in foreign shares, but also in funds, cryptocurrencies or foreign exchange. (SDA/uro)