Abstract:

The current research report examines the motivational reasons for the high saving intentions in late 2025, a time of multiple crises. Inflation attitudes and pessimism are discussed in the literature and in public as two possible causes of high saving intentions. However, empirical evidence is scarce. In the present study, we exam-ine attitudes towards inflation and pessimism based on online surveys conducted in Germany (N = 3,032) and the United States (N = 3,006). These two countries differ sharply in both the extent and quality of saving. The results show that in both countries, existing savings are an important factor, such that individuals with existing savings report higher saving intentions than those without. In Germany, in addition, existing savings drive sav-ing intentions based on individuals’ motive to protect their wealth from inflation. Other motives to save include saving for retirement (Germany) and the perception that policies to fight inflation are unfair (U.S.). Thus, in both countries, inflation-related attitudes are more important for saving than pessimism. We end this research report with a discussion of policy measures that might support citizens in realizing their saving intentions not only via saving in a bank account but also via investments, which potentially yield higher personal profits.

This publication is only available in English.