Most Dutch build savings despite low interest rates

The Dutch in general are conscious and careful about their money. According to results from the annual monitor from Wiser in Money Affairs, the past year has seen an improvement in the way people organize their finances, the NOS reports. 

According to the monitor, a vast majority of the population (87 percent) chooses to keep some money in savings. This despite the fact that banks such as ABN Amro have been lowering their savings rates to historically low proportions.

Saving money as a buffer against unforeseen or temporary circumstances is a conscious decision of more than 60 percent of the people. One quarter of Dutch have an amount higher than €5000 in the bank.

Another 66 percent of the population did not get reminders or warnings to pay bills, and 58 percent were not overdrawn this year.

Compared to last year, the situation has improved. Dutch people are less overdrawn and are receiving fewer warnings about outstanding payments.

According to the monitor, people in paid employment are less likely to keep strict tabs on their cash flow, and are more often overdrawn or have outstanding payments. They do have good buffers against unforeseen circumstances, however. Unemployed people keep their finances in check more thoroughly, but have relatively little savings for unforeseen expenses.