More Dutch have savings than rest of EU, despite low interest rate

Many Dutch people still save, despite the low interest rate. For many people the savings account appears to be a "safe" way to keep a grip on the finances. About 78 percent of the wealth in the Netherlands is held in savings, the highest rate in Europe. This is according to a study by asset manager Blackrock, which was published on Monday. More than half of Dutch people calls saving money their most important financial goal. Simultaneously, Dutch savers indicated that they really should hold less savings. On average 42 percent is referred to a s the ideal percentage. The study also revealed that Dutch people are relatively positive about their financial future. Dutch are slightly more optimistic (51 percent) than other Europeans (47 percent). Dutch are also more positive compared with a year earlier, when 44 percent were positive about their financial future. According to Bob Hendriks, head of Retail Nederland at Blackrock, saving gives people the feeling that they have control over their money. At the same time, people have little knowledge on other ways to build wealth, such as investing. Only 38 percent say they are serious about financial planning, compared to an average of 52 percent in other European countries. Hendriks calls this worrying. "Against the background of persistently low interest rates and the effect of inflation on savings, but also the increasing emphasis of the government on the personal responsibility for the financial future, it is worrying that most Dutch remain in a "hibernation" when it comes to their finances."