How Germans Treat Money
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Do you treat money like a German does?
0:00 Intro
0:34 What the video is NOT about
1:56 My shameful favorite
2:18 Germans history of saving
2:57 Sponsor
4:39 The first savings bank
5:05 Prussian Savings accounts
5:35 War and Hyperinflation
6:08 I do my laundry
6:33 Average Savings By country
7:10 The Swabian Mentality
8:26 Germans vs Americans on Money
9:40 Debt
10:16 Credit Cards
10:30 A Crazy statistic
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@henri8424 Жыл бұрын
Another famous German saying about money is “wer den Cent nicht ehrt, der ist des Euros nicht wehrt” witch roughly translat into “ the one who doesn’t honors the cent is not worthy of the euro” and I think that shows again that Germans really care about their money
@robstar6667 Жыл бұрын
*wert, *doesn't honour
@MrYamiBakura Жыл бұрын
@@robstar6667 Honor is a legit spelling form in American English.
@robstar6667 Жыл бұрын
@@MrYamiBakura I am aware of the American variant. But it's doesn't + infinitive. Nevermind.
@sonjagatto9981 Жыл бұрын
Ja genau, man sagte frueher:"Wer den Pfennig nicht ehrt, ist des Talers nicht wert. 😉
@user-bj2lu9qt3o Жыл бұрын
@@sonjagatto9981 und nur so ist es richtig. Man überträgt das doch nicht einfach auf den Euro.🤷🏻♀️
@goblinkoma Жыл бұрын
I'm a 19 years old german and the most valuable lesson I was taught was the following: never buy anything that you can't afford right now. only exception to that would be a own house. any loan or tariff, for a new phone for example, is unacceptable, unless the required total is safed up right now.
@KurtesolWafelosi Жыл бұрын
well, you were fortune enough to always have enough money then.
@davidmat4264 Жыл бұрын
An alternative rule i heard was dont buy anything that u cant buy twice
@SomeoneYouKnow2671 Жыл бұрын
@@KurtesolWafelosi Or unfortunate enough to have so little money that you have to be really careful about what you spend it on. Keep in mind, every time you go into dept, you have to pay more back than you initially loaned. Of course, it's a diffferent situation if you have to go in debt for essentials, like food and rent, but in that situation you're pretty much fucked already.
@stanislavbandur7355 Жыл бұрын
Interesting. I do not have a problem with dept especially these days when inflation is on my side, but we all have to follow at least this rule (I follow strictly) "Never take a loan for staff which will not last at least so long as you will paying back that loan"
@SomeoneYouKnow2671 Жыл бұрын
@@stanislavbandur7355 Is inflation really on your side though? I'm pretty sure that whoever loans you the money is keeping inflation in mind as well, which is one of the reasons why interest rates go up during inflation
@JJJT- Жыл бұрын
Just a little tip. If you do ad placements on KZfaq in Germany you need to declare it by putting the word "Werbung" on the screen.
@magnusemilsson7205 Жыл бұрын
Interesting; the Swedish word för debt is "Skuld" and is the same as guilt. But it presumable came from German language, and both forms has been found written down in document from the early 1500 (in year 1523 and 1524). Ernst Wigforss (politician i Sweden) wrote 1932 "Den som är försatt i skuld är inte fri" that can be translated to "He who is in debt is not free". It seems like Germany and Sweden got the same mindset in several areas.
@louismart Жыл бұрын
It is the same in Latin, so the concept is not restricted to Germanic languages. Debt stems from debitum. Dimitte nobis debita nostra = forgive us our trespasses.
Жыл бұрын
@@louismart Thanks for beating me to it. They want to blame us Germans for literally everything lol
@marcomobson Жыл бұрын
And the saying is true - unless you are a con artist and give a damn about other people and what is theirs...
@Schnittertm1 Жыл бұрын
The German word is written "Schuld", but yes, it can mean debt, indebted or to indicate guilt.
@HenryAusLuebeck Жыл бұрын
Die Schweden sind ja auch Germanen. Alles südlich der Elbe ist doch eh Italien. ;) Gruß aus Lübeck.
@adambriest5257 Жыл бұрын
That shot of you talking about the germans saving money while doing the laundry...socks... is genius. Wether planned or not,ever heard of "sparstrumpf"? A good wide smile was had 😃
@angelika9729 Жыл бұрын
I thought the same 🙃
@Ned-Ryerson Жыл бұрын
I thought that, and also that he folds socks exactly like my wife's aunt, who does it differently from everbody else in my family. :)
@1yearago640 Жыл бұрын
Actually, Germany has in its constitution the Schuldenbremse (debt brake), which means the German government is not allowed to spend money they don't have and get in debt as a country. They made an exception since 2020 because of covid and the war but for 2023 they are planning to put it back in.
@Freestylefisch Жыл бұрын
Of course we are already deeply in debt as are most countries. The idea of the Schuldenbremse is to not make more debt (but also not repay the old). We also have the Schuldenuhr (debt clock) and it shows more than 2 trillion Euro (+ 4800 every second).
@brokkoliomg6103 Жыл бұрын
And the Schuldenbremse is very controversial.
@kirschdiebin Жыл бұрын
But the government just allows a lot of Sondervermögen so it’s not a part of the years debts but it’s still debts 😂 it just not count for the schuldenbremse
@Snooby1983 Жыл бұрын
Ein weiser Mann sagte mal: 'Vom Geld ausgeben ist noch keiner Reich geworden' thats my favorite Quote. 🤑☺️
@halbgefressen9768 Жыл бұрын
leider falsch. genauer: "Vom Geld ausgeben ist noch kein Arbeiter reich geworden"
@aaronpatterson2369 Жыл бұрын
Well, here in America there is a opposite saying.."you got to spend money to make money". Unfortunately, i've found that to be true.
@Dreagostini Жыл бұрын
@@aaronpatterson2369 It's misleading, because it means "invest money" and only afluent people have enough money to invest.
@dreamingflurry2729 10 ай бұрын
Vom Arbeiten und Sparen aber auch nicht! (Working and saving also didn't make anybody rich - investing wisely and/or starting your own company does!)
@angelahenke9754 5 ай бұрын
Karl Lagerfeld sagt; du musst das Geld zum Fenster rauswerfen,damit es zur Tür wieder reinkommen 😂😂😂
@FrankenHerzEuropas Жыл бұрын
The American attitude was once summed up with this: "Buy things, that you don't need, to impress people who you don't like, with money that you don't have." Very different from "save - save - save - built a house". When I was a kid (1970s - sorry, but I'm OLD) - the local Sparkasse held special events to teach us how to save money. That planted the savings-idea deeply into our minds and almost 50 years afterwards it's still in me.
@baronvonjo1929 Жыл бұрын
Yeah. It does kinda depend on the individual though. Lots of people literally do not care whatsoever. You can tell if you just sit down in a city or store and people watch. Other nations are also like this. I hear it can be pretty bad in some Asian countries to the point your socially required to look and have certain items or such or your looked down on. But like I said with a Americans there are no doubt people who don't care.
@mojojim6458 Жыл бұрын
Another factor is that Germany is an export oriented economy by necessity. And that type of economy benefits from a high personal savings rate to finance the export industries.
@sarahmichael270244 Жыл бұрын
Remember "Weltspartag" and all that (Teddys, Saving boxes, etc ) for kids
@karmaoutlaw Жыл бұрын
You’re not old, just well-seasoned. Be proud!
@Thorsten_Wiegand Жыл бұрын
@@ThomasVWorm : The money that is saved in a bank is NOT withdrawn from the economy. It is used as credit for companies. To take a debt for a holiday or consumer products is ONLY benefitical to the bank, not for the economy and not for the normal people. To take a debt for an investment like a house or a car (to get to work) is OK. But to take a debt to go on an expensive holiday cruise or buy the newest IPhone is just extremely stupid.
@mojojim6458 Жыл бұрын
"German's and their money, what a weird relationship." Notice the slow pull back of the camera just after the very beginning, revealing the man and woman having a warm relationship of their own. TSGO
@minischembri9893 Жыл бұрын
I noticed that, too. Made me smile. :)
@ericminch Жыл бұрын
What I notice is the extraneous apostrophe. Lissen folx, they are in short supply! If you use them all up gratuitously on plurals ("plural's") then our children and grandchildren will be suffering from apostrophe shortages!
@mojojim6458 Жыл бұрын
@@ericminch I realized my mistake too late, after the Nalf gave me a heart. He did that in spite of gratuitous usage in the middle of an apostrophe shortage.
@yvonnehorde1097 Жыл бұрын
Another secret: Discipline and control. German housewives often use a book where they write down what they have and what they buy. This is called a "Haushaltsbuch". I heard that something similar is also very common in another region of saving, Japan. I am not so sure how much this is a common thing in the USA....
@kevinlynch1524 Жыл бұрын
Growing up in Germany as a military dependent, I remember when our maid had a party and invited us to her new home. She and her husband had been saving over their lifetime and @ age 45, they were able to buy their home...for cash. No Mortgage. She was a maid (she helped my mom clean and she ironed, as I remember) and her husband was Hans, The Beer Man. He delivered Beer and Cokes and bread and eggs to American Families on a regular weekly route. He also always had Gummi Bears candy in his Lederhosen pockets, for children, who had been "good."
@mats7492 Жыл бұрын
When was that? 1965? Nobody would be able to do that now in Germany… Banks don5 even give loans anymore if you don’t have 10-15% down payment..
@martinohnenamen6147 Жыл бұрын
@@mats7492 As he wrote, they didn't need a loan because they saved up all the money they needed for buying their home ;) So that would still now be possible, when you don't need a loan you don't need a down payment ;) What he describes was not that uncommon in Germany some years ago and goes with the mentality "You only buy it when you can afford it" and avoiding debt at all costs.
@holger_p Жыл бұрын
That's really crazy, cause I'd say homes and cars, the really huge things people accept mortgage or down payment. Especially cause homes may gain 5-8% in value each year, and your interest on savings is only 1-2%. So you can never catch up, you are actually loosing value each year you wait.
@Goldzwiebel Жыл бұрын
he talks about a double income. at the time it was common for women not to work. but if she worked, they could save her entire salary to buy a house. that was nothing special until about 20 years ago.
@joergsonnenberger6836 Жыл бұрын
@@Goldzwiebel It was special in the Southern BRD at the time. It was common in the GDR and much more socially acceptable in the Northern BRD.
@mariondiemert430 Жыл бұрын
This was a great video. Not all Germans hate 'Schulden', my husband for instance, was happy each and every time he was okayed for a credit card here in the States. I, on the other hand, was having sleepless nights about the credit card debt we now had. I turned it around, cut up all cards and we are now schuldfrei! It was really getting out of hand. Thank you for the research and info.
@sugonmad2402 Жыл бұрын
Your videos are getting better and better, not only the filming but also the scripting. They are so pleasant to watch and the research you do is so interesting!
@philippbretzler7687 Жыл бұрын
Many of the older Videos are also very good.
@sugonmad2402 Жыл бұрын
@@philippbretzler7687 Of course, they always have been. It's just that they are still getting better. Way better even in my opinion.
@mizzle733 Жыл бұрын
I agree 100%. I discovered this chanel a few months ago and his videos are recommended to me every once in a while and they are always such a pleasure to watch.
@philippbretzler7687 Жыл бұрын
@@mizzle733 Absolutely! They are also well researched in terms of content. He is in the Group of best KZfaqr.
@ollyo25 Жыл бұрын
I love Cash and the fact that only i know where i spend it!
@cloudchaser966 11 ай бұрын
Right on! The funny thing is, many people squirm when they think of countries where video surveillance in public places is used extensively, but they fail to understand that using cards instead of cash is just the same when it comes to their finances!
@twinmama42 Жыл бұрын
As I've stated before in comments paying with cards lets many people lose oversight over their finances and I personally love the anonymity (electronically nontraceable transactions) of paying with cash. Don't live beyond your means. Save for a rainy day (or get insurance). Only borrow money for the right purpose with value (e.g. a house). Pay back all your loans on time (or even early). Ever heard of a Bausparkasse? Typical German form of investment and mortgage managing.
@martinaberger9689 Жыл бұрын
If he knows Bausparkasse? Are you kidding me, he lives in Schwäbisch Hall! 😆
@eberbacher007 Жыл бұрын
Yeah I was on a roadtrip with 2 friends who lets say, earn a little bit more than me, after that week, i looked at my bank account and was a bit shocked. It just adds up and I would have noticed it much earlier if i had had all that money in my wallet
@puo2123 Жыл бұрын
The problem is that tax fraud is supported by the german system
@jessicaely2521 Жыл бұрын
@@eberbacher007 you write down how much money you have to spend. Every time you buy something you write it down and take it off of the money you have to spend. I only use credit cards, but I NEVER EVER go over my means. (I get money back on every purchase i make. I dont pay a yearly fee either. I had the card for 3 months and I already have $1,000 waiting to be cashed out. You don't get this luxury with cash). I add up about how much groceries are in a week (I get paid weekly), bills that have to be paid that week, $20 goes to a rainy day fund, $20 goes to a vacation fund, and the rest of the money gets divided up evenly between my husband and I. It isn't difficult to budget when only using credit cards.
@TehStormOG Жыл бұрын
I never understood this argument, how can you lose oversight of your finances when every transaction is tracked and saved for you to go back and analyze, sure using cash would leave you with more ambiguity on your financial habits
@sommersprossenalarm4641 Жыл бұрын
Maybe you could also make a video on why a lot of Germans love their cash money and why they feel controlled by the authorities if they couldn't choose between cash or card.
@Wuschi2001 Жыл бұрын
I need cash or I'll treat money like jetons in the casino
@monacurkovic9420 10 ай бұрын
The Bank wins with every transaction. And they also know where I was to buy anything.
@scelestion Жыл бұрын
Oh my god, Nick! 100K, congrats! When I started following you about 2 years ago, it was about half. I immediately started rooting for you to reach this milestone, because I honestly think you are one of the best persons out there, and seeing it has finally happened feels incredibly good. Much love to you! I'm glad you kept making your videos.
@leonherbst3823 Жыл бұрын
Found myself (as German) in this description… 😄 Very good explained. 👍🏻😉 Another saying here in southern Germany is „Über Geld spricht man nicht, man hat es“, roughly: don’t speak about money, just have it. 😉
@dansattah Жыл бұрын
Speaking of saving, there were recent pleas from the government to save on power, water, gas, and fuel this winter. My mother made the following remark about this: "Those of us who grew up in the GDR are used to saving and rationing. It will be much harder for the West Germans and the younger generations."
@bencze465 Жыл бұрын
I am used to sitting in my underwear in the house. Usually there's 23 to 25 degrees (I have relatively little control over it). I'm not worried, we're spoiled. It would not be a big deal to wear some shirt, pants, maybe something long sleeve on top as well. We're very spoiled, it's not that hard to go to a bit lower standards again, if you ever did it (I grew up in one of the worst communist countries and we were poor ion the 80s, even 90s). I can imagine people that are used to just having stuff all the time, would have issues, even adults... and their spoiled kids...
@wolfgangloll2747 Жыл бұрын
I was quite young when the GDR still existed. in the meantime i got used to sitting at home in a t-shirt and taking long showers. Somehow I had to remember my childhood to get back into a less wasteful mentality.
@resathe6760 Жыл бұрын
@@wolfgangloll2747 I didn't live in the GDR myself but my parents did and because they are also very conscious about protecting the environment I was raised to save energy wherever possible. Most days of the week only the kitchen is heated and the bathroom in the evenings, and then we don't heat more than up to 20-21°C at most in there. Also no showering for half an hour or washing half full washing machines or dishwashers. And doing whatever is possible by bike or public transportation and not car. Now with the situation at hand I'm very grateful for that kind of upbringing.
@swanpride Жыл бұрын
She is only half right...my mother is from the after war generation, and she has adopted this habit of having everything on storage just in case there is a shortage from her mother...and I have adopted it from her. As a result, we actually have three options to heat our home, but frankly, the only thing which needs to get heated are the main rooms.
@puo2123 Жыл бұрын
@@bencze465 the big thing is that we should have started saving energy decades ago because of climate change. It just shows how litte people care about their future and other people.
@rudolfgernd8760 Жыл бұрын
I am all about cash. It gives me safety over my savings (as a feeling and for real). I even use non-cash-sytems like a cash system. My PayPal works like a prepaid account. So I only can spend what I had stored beforehand. Or I walk in a store and buy these cards (10-50€) for stores like Steam. Sometimes I use the PaySaveCard System. Cash for life :)
@Freestylefisch Жыл бұрын
It's funny that it became the opposite for me: as long as it's a number on the internet, I can watch it, I can track my spendings. But as soon as my record says: "100€ withdrawn" then I don't know where these went.
@durschfalltv7505 Жыл бұрын
I would like if monero was out main curerrency then i could have elctronic payments that are anonym and have accounts for food, subscriptions, insurance, free time etc.
@dieuris97 Жыл бұрын
@@durschfalltv7505 thats what the EZB is currently doing - creating a digital euro
@durschfalltv7505 Жыл бұрын
@@dieuris97 no the ezb is creating a digital euro to surveil our transactions. Also it's not decentralized crypto. Banks can stil just print money if they feel like jt.
@schwierschi Жыл бұрын
Such a Great Video Nick!!🤓 Every time impressed by the accuracy of the research and the effort you but in your videos!
@logik2448 Жыл бұрын
100k!! congrats man, really enjoy your videos!! keep it up!
@joekhatib3798 Жыл бұрын
Congrats on 100,000 subscribers Nick, looking forward to you getting your plaque from KZfaq! Oh and congrats to little bro Andy and the Cal Bears on their victory over U of Arizona this past Saturday, 3-1 on the season so far! 👏👍✌😁
@Gizmopolition Жыл бұрын
congrats to 100k followers!!!! well done! 👌🏻
@huawafabe Жыл бұрын
I love the edutainment style! MOOORE
@heikekurtz2085 Жыл бұрын
When I started school more than 40 years ago they would cooperate with the local Sparkasse - every Friday we could deposit money with the teacher and got little pictures in exchange which we could collect in albums - a bit like the football sticker albums nowadays. The money would then go to a savings account (our parents had signed us up for) in our name. Yes, I am one of those infamous swabian housewives ;-) . Rumor has it that we Swabians were once Scots, but they evicted us from there because they could not stand our stinginess any longer 🙂
@violahamilton782 Жыл бұрын
Very funny!
@sneakysnitch4175 Жыл бұрын
Love the beginning
@rentenfuchs3025 Жыл бұрын
Again, excellent video: Interesting topic, very well researched und presented. With the Unicorns located in SHA I was somewhat astonished that a certain Bausparkasse was not mentioned. Congrats, btw, for crossing the 100,000 subscribers mark.
@holger_p Жыл бұрын
He may not realize, there are more Germans considering "Schwäbisch Hall" a bank, rather than a real city. Took me 20 years to find out also.
@lamb555v Жыл бұрын
100K subs 👍 congratulations!
@shadowvexx3123 Жыл бұрын
congrats on 100k you deserve it
@michaelkloters3454 Жыл бұрын
hey lord nick, like always a fantastic video. very informativ, memorable presented in a syphatic humorous way that leave me with a smile in my face. and it needed again an oregon import to makes me searchin for that berlin exhibition instea of playing a stupid game! THX for that! Michael/Hannover
@wurst719 Жыл бұрын
very well researched. love your videos.
@chrisstott4100 Жыл бұрын
Great and informative video,Nick! Awesome glasses too! Congrats on 100K ! I wonder why you upload a video and take it down and re upload it? It seems to happen on most videos.
@Leidernes 10 ай бұрын
I am German and really love your videos. It helps me to understand me and the society I life in better. And it opens my eyes to be more grateful for the great things and opportunities we have here in Germany (e.g. The free educational system, infastructure, healthcare). Keep up the great work!
@michaelp5790 Жыл бұрын
Congratulations on reaching 100,000 subscribers!
@klaushohmann1101 Жыл бұрын
For me personally, no credit card is an option.I don't give banks any fees that I can easily save with cash payment.There is a saying in Germany 'nur Bares ist Wahres'.That means only cash is real money and counts.
@HeidiJohnson01 Жыл бұрын
LOVE the sound of the rain in this video.
@pyrothepirat6493 Жыл бұрын
Congratz on the 100k
@DerMaflon Жыл бұрын
I'm 23 right now and I actually like cash. There are two effects cash has on me that I like. 1. Spending small amounts of money: If I spend anything less than 20 Euros, I don't really care about it, I don't want emails, anything in my bank account or anything, I want to spend that money and never think about it again. I like to document bigger spendings so I remember them, but buying bread and some apples, I don't wanna know about that apple 8 years later. 2. I know what I have: If I got 100 bucks in my wallet, I got 100 bucks, I can't spend 2000 bucks like I can by card. It sets a limit and I like that. I'll never understand how people are in debt for a new iPhone or a car. Don't spend more than you got, it's that easy. Sometimes you just can't get everything you want. It is what it is.
@PitPendragon Жыл бұрын
I love that you sort your socks in this video. Reference to the "Sparstrumpf"? :D
@havannaGS Жыл бұрын
0:08 - 0:13 look2daleft...now isn't that special ♥️
@T0ghar Жыл бұрын
I also don't carry a lot of cash, but cash is important. Cash means freedom and privacy. A society without cash could turn very problematic very quickly.
@SoundwaveSinus9 Жыл бұрын
EU plans to introduce digital money in 2024....no physical money anymore.....they young population would accept it and then wonder why the gov has way to much power over the people
@Timo-qb1gf Жыл бұрын
How so? Go to the Nordic countries where you can go years without using any.
@brucemc1581 Жыл бұрын
@@Timo-qb1gf all your transactions are recorded in multiple databases. Easily hacked.. or in some cases back doors given to some governments. You may have not noticed any issue yet because your in a very good country, but it would be laughable to think your privacy is intact in Russia, US, uK, China, etc…
@Dahrenhorst Жыл бұрын
@@Timo-qb1gf Look at China, you might get an idea how problematic it can get, when you can't rely on the availability of cash anymore.
@feprivat Жыл бұрын
Yes, cash really means freedom and privacy ! I don't want anyone to have a track record of my purchases ! And i don't want to have only digital money that can be easily controlled/manipulated etc. by bad politicians and central bankers.
@t.kausch419 Жыл бұрын
Unglaublich interessant. Wusste ivh nicht - danke Nalf. Du bist halt in der richtigen Region gelandet...
@colmcorbec7031 Жыл бұрын
A small amount of cash from 20-50€ when there is an emergency. Otherwise it's card all the way.
@sarahmichael270244 Жыл бұрын
hi, Nalf 6:12 do you heard of a "Sparstrumpf" ? sillicon valley mindset on taxes is: don't pay them. Please Nalf , if you make promotion, please announce them with a sign in your video, although you maybe get in trouble. during that part write in the left or right corner "advertising"or "Werbung". Then you are save! Take care!
@typxxilps Жыл бұрын
congrats for making 100 k subs finally !
@erikdiefenbach3131 10 ай бұрын
Hey Bro, normally I don´t comment on KZfaq but I had to here. I´m a german living in Hamburg, and from a german perspective I REALLY enjoy your videos. In most parts they are very precise and eyeopening even for germans grew up here. Keep up the great work of breaking down or remaining senseful stereotypes about us.
@zerando4548 Жыл бұрын
I'm brazilian living in Berlin, for me one of the most diferent aspect of how germans threat money was on change. They give you literally every cent back, literally, this was so confusing and anoying on the first year, but I get used to it and whenever I'm not a germany and buy something i het this screwed up felling for not receving 7 cents back.
@halbgefressen9768 Жыл бұрын
Well, obviously we give back every cent. Otherwise I would either make a loss or scam you 🤷♂️
@knicklichtjedi Жыл бұрын
I usually pay everything in cash, and only pay if I want to buy something big/it exceeds my cash in the wallet (30-50€).
@susannefigelius165 Жыл бұрын
Before Covid every german kid went to their local savings bank on a special day in october (Weltspartag) and when they hand in their savings to put them into their bank account, they get a present and a helium balloon 😃😁
@XennialGeek Жыл бұрын
Your conclusion sums it up nicely. That is still very much true, although is slowly changing among the younger generations. Regarding cash, while most people I know, mostly pay with debit (not credit!) cards, pretty much everbody carries some cash for emergencies or to pay at small stores, street vendors etc. that are cash only. I personally alway make sure to have between 20-50€ cash in m wallet every time I leave the house.
@blauermerlin1968 Жыл бұрын
Klasse Video
@andresjustus160 Жыл бұрын
Let me tell you a secret Nick: The gas station will gladly accept your card if you buy a Brezel next time... 😉
@Maaaggii Жыл бұрын
Don't know if it's because I'm German but even as a young adult I always told myself the only Things I would go into debt for are buying a car and House. Why should I buy a big TV or such and pay it if in for example 24 monthly rates? If I can pay it I can buy it. After these 24 month there will be newer Tech that I can buy.
@xXBIueStarXx Жыл бұрын
one thing i know as German is, and this is what my grandma taught me, you ALWAYS have enough money on the "high edge" (hohen Kante) to live a small time from it. The reason why is, you never know when something bad hits you like you smartphone broke, your pc explode or in times like this your gas bill get up to 50 euros more a month. So even now were i am unemployed i still save the little bit of money i have, to save me against bankruptcy.
@gloofisearch Жыл бұрын
I am so very happy I grew up like this. 40 years ago at school in Germany, we were taught on how to save and we even had a "Stock market game" were we had to get a newspaper every day to look at the stock market and "invest" money on paper. Today, I have no debt, have a credit score way above 800 and can "survive" years without touching any savings. My family on the other hand is totally different. Everybody has debt and my grandson, being in 12th grade, has no clue about stock market, crypto, investing or saving in general. He wants an iPhone, Earpods and a Dodge Charger and no matter what I teach them, they will not listen for a second. I feel so bad for them as they will have a hard live but I tried many times.
@pinkhope84 Жыл бұрын
I wish i had someone to teach me this things 😊 i know how to handle money , i try to make no dept. But i dont know anything about investing. I try to teach myself but not that easy.
@jdrancho1864 Жыл бұрын
nothing more frustrating than trying to pass on your collected wisdom, only to have it fall on death ears. I experience it all the time with my younger workmates.
@DrFrankNStein-sf2ww 11 ай бұрын
Sounds like my younger brother.
@shelbynamels973 6 ай бұрын
@@jdrancho1864 Oh so true. As the saying goes, you can lead a horse to water .....
@thrikkacid8169 Жыл бұрын
4:42 I immediately recognised the Rathaus of my hometown Göttingen! Thats not Hamburg! :D
@julianes1731 Жыл бұрын
Oh ja habs auch gleich erkannt. Das Rathaus und das drum herum sieht ja immer noch fast genauso aus ;-)
@MrNo0p Жыл бұрын
Schaffe Schaffe Häusle baue. Ich krieg mich nicht mehr hahaha klasse. Liebe Grüße aus Karlsruhe. Hier hört man den Spruch auch öfters
@BlackWater_49 Жыл бұрын
I, 23M, German usually carry at least 100€ in cash everywhere and only use my EC card if absolutely necessary. Why? Among other things (but the most important) anonymity. When you pay cash no-one can track your purchases. If you use cards or worse Payback points then every purchase you make is recorded and I do - not - want - that - at - all, even if just buying groceries...
@olafriedel2182 Жыл бұрын
All this "No cash" Guys are the one`s i have to pay for, when sitting in a restaurant and there is no payment per card possible. I don`t understand why it is sooo difficult to carry 50 or maybe 20€ inside the mobile phone case.
@lmeowxdd8288 Жыл бұрын
Good video. Accurate.
@LarsLiveLaughLove 5 ай бұрын
I continue to be deeply impressed by these many highly successful celebrities there
@GTA.Sven.Andreas Жыл бұрын
good vid 👌👍
@TackerTacker Жыл бұрын
That opening shot though 😂🤣😂
@arnoackermann6584 Жыл бұрын
In Thailand there is a saying that if you have debt you will be reborn as your debtors servant.
@michaelvonfriedrich3924 Жыл бұрын
Nicely done NALF!!! Curious how much ch lose change do you have in your apartment, I know I’ve collected a sh….. load while here in Germany
@ungerongt6033 Жыл бұрын
Hey Nick, did you try some frozen Brezel from Aldi? Maybe do a video with a taste test of frozen Brezel?
@robertbutlin3708 Жыл бұрын
A traditional explanation in the immediate post war period was that money (and in particular having a stable currency) mattered because of the hyper-inflation (and the fact that savings got wiped out). As the video kind of pointed out…
@holzhandwerk_ak Жыл бұрын
Thanks for this perspective. As a 46-year-old German I largely agree. Two points I’d like to add: 1. about carrying cash: you interviewed guys roughly in their twenties. I think the younger generation is drifting away from cash while people my age and older tend to stick to it more. However, since the Covid pandemic, it has become more common to pay even small amounts with your debit card, for example at the bakery. Debit cards are much more common in Germany than credit cards - which is a good thing, I think. One of the main problems with credit cards, I think, it that you easily lose track of your spending whereas with cash or debit card (and a banking app which gives you daily access to your account balance) you can keep on top of things more easily. 2. About the statistic at the end (country-level): I don’t know much about macro economics but I think that handling money (debt, spending etc.) is vastly different on the country level than on the personal level. For example, many economists (even German ones) thought that Angela Merkel’s and Wolgang Schäuble’s “Swabian thriftiness” was a bad idea while it might be a good thing for an individual to be thrifty.
@muHkUh2k6 Жыл бұрын
In the 90s and early 2000s a lot of banks offered incentives for minors when opening a youth account like 20-30 USD balance or gifts like a backpack or something. Also youth accounts still remain [mostly] free of monthly fees and are locked that you can't go in debt.
@lorrefl7072 Жыл бұрын
We had that in Belgium too. In the 80's they already had big add campains too for youth to open a bank account. I remember when I had my first bank account at 14-15 (1986-'87) is was completely free and so was the bank card and the use of the bank card.
@shelbynamels973 6 ай бұрын
That pullback at the beginning. So funny.
@blugirl214 Жыл бұрын
Those glow up glasses tho 🫶🏼
@MrBaek-sl4kc Жыл бұрын
Thank U. Good Advice.
@Kordanor Жыл бұрын
I would definitely avoid sponsors for any financial product. I dont think that's ever a good idea. Not just that the sponsor is very unlikely to actually be the best option, but also because you as the one doing the advertisement share some of the responsibility for bad financial choices. And nobody can guarantee that future profits will be similar to profits in the past.
@eberbacher007 Жыл бұрын
also advertising for financial products while doing an information video on finances, is according to german law also something that is quite regulated. hope he is not in hot water with this
@maunz5791 Жыл бұрын
Very nice and interesting video! But I'm still amazed that the KZfaq subtitles changed Schwäbisch Hall to soyfish hall. 😂
@Nabend1402 Жыл бұрын
It's weird to have no cash at all on you. But 20 Euros goes a long way.
@DASPRiD Жыл бұрын
I feel pretty free since I stopped using cash 6 years ago. Not even carrying a wallet around anymore either, just my phone.
@mojojim6458 Жыл бұрын
2:05 No wonder that is your favorite place for the best pretzels. Bonjour. It's French.
@Andi_mit_E Жыл бұрын
Thanks
@Sedeerah Жыл бұрын
I never realized the connection between "Schuld" (guilt) and "Schuld(en)" (debt). That part was just too funny :'D 9:47
@PeterPups0815 Ай бұрын
Pretty accurate. I use cash and card tbh, but saving definitely is a part of my DNA.
@agricolon Жыл бұрын
The picture at 4:42 shows the market place and the Old Town Hall of Göttingen with the Johannis Church at the back. Very beautiful city of 130.000 inhabit. with about 30.000 students. ;)
@andreashouben5355 10 ай бұрын
The thing is, my parents told me to save always, but they never allowed me to spend money (better save it for when you really need it). And that's what brought me into a weird relationship with money. I never saw the point in saving if I wasn't allowed to spend it. So I usually just spent it. I guess I was around 30 when I first saved for an iPhone and it was amazing to just be able to pay it because I saved up. Nowadays I have trouble saving because I never created a buffer.
@lauragraham1122 Жыл бұрын
Hi! Thank you for your videos. I'm also an American/Canadian living in DE for a while. I'm on the Masterworks website... did you say you are a resident of the states or not when signing up?
@derbaer0290 Жыл бұрын
the couple in the background during the intro tho. 😆
@ProdByTenshi Жыл бұрын
A trick for saving(or getting a better overview of) your Money is to get for example 100€ on Monday every Week and only use these 100€ for Grocery Shopping and all the other Purchases that fit in the "Buying Daily/Weekly" Category. It helps me a lot with setting my Budgets and also saves me Money because when paying with Card there is no Physical money going directly away from you.
@Marcel._B Жыл бұрын
I usually only wear cash around when I buy something, otherwise the wallet stays at home. The thing is here around not every place accepts a card so I tend to pay with cash and when it's like below 10 Euros then it does not seem worth either to pay with a card
@tibor1234 Жыл бұрын
Didn't anyone see the kissing couple at the beginning? Nice :) Great video.
@thyha Жыл бұрын
Aren’t there tons of coupons in the States? Last time I visited back in 2010 every store had coupons. When I came back I started to use the Cashback system Payback but it never came close to the buy one get one free coupons the US stores had.
@harrie205 Жыл бұрын
nick read the law/Rules regarding advertisement (Werbung) in KZfaq videos (i did not recognize any mandatory signs) this could get you in trouble(would not be the first youtuber/influencer if i just missed the hints towards comercal my bad but if you dont got them inegtrate them fast or something(im not an expert)(but advertising without marking it can be expensive(even if it is for your own movie)) kind regards
@VeriZami Жыл бұрын
thank you... never thought of the meaning "Schuld" before, like its double meaning. but than again - you're absolutely right in the way we germans behave about the concept of debt
@rabbiezekielgoldberg2497 Жыл бұрын
The thing about the 1920s, though...it actually _was_ them. In fact, the very same finance capital has been responsible for unstable economies to this very day.
@espneindanke9172 Жыл бұрын
A few years ago (I think 2018-2019) I went to the gas station and there was a worker at the entrance asking if you wanted to pay in cash or with a card. Anyone who wanted (or needed) to pay by card was sent away. There was a problem with the cash registers and you could ONLY pay in cash. The employees had to hand write down EVERYTHING that was sold there that day. And they had to read the price of each product on the shelf (one wrote down, the other one just walked back and forth calling out the prices). On another occasion, at a cash register the card reader failed. So, there were 3 cash registers open and at one you could only pay cash. At the one cash register I could pay immediately (cash), while at the others were long queues^^ I would say there were maybe only 10-20% who had enough cash with them to fill their tank. Everyone else relied 100% on electronics.
@Never_again_against_anyone Жыл бұрын
On point. But the tendency to view things as gambling that Americans tend to view as investment, does not end there. For example I would never have gotten a higher education if I had been forced to take out as much loans as most Americans are forced to take because of tuition fees. I treasure education in itself but I would have regarded it as too much of a gamble whether it really pays off economically in a way to be able to pay off such loans and be better off in the end. Not that I had no education debt. But if you only have to use that to exist in those years and with the terms being really forthcoming, it is a whole other story.
@BlueFlash215 Жыл бұрын
2:08 It is a vital step in life to find one's Butterbrezel provider. You've been examining, testing, evaluating and researching many Butterbrezeln. At this point, you made your decision to aquire the Butterbrezel at a local gas station. In no way should this Butterbrezel be considered inferior to any other Butterbrezel your tasting buds came across. Mature, you turned from Brezel-hunter into a Brezel-gatherer, always feeling the comfort of k owing how your Butterbrezel will taste. Same quality, same face handing you out the Butterbrezel. Enjoy this episode of your life. You will be struck down one day when eventually doomsday comes and your favorite place no longer serves Butterbrezeln, or even worse: changing the recipe.
@garyrivera Жыл бұрын
this is my 5th year in EEUU , so far I have not pay with bills or coins, all plastic. Except for washing my car (quarters only) and tolls (now there are some with POS)
@dickstueland4009 2 ай бұрын
When coin in coffer rings a soul in Purgatory sings. Luther left the Roman Catholic fold over selling indulgences. My German family never trusted banks. Literally , stuffed it into the mattress. Had money to purchase property during the Depression. We were taught to save and invest in stocks and land.
@1draigon Жыл бұрын
I’ll be honest, I haven’t paid in card in like 2 weeks so I’m probably the only young person haha
@Marco-zt6fz Жыл бұрын
very good video and very good explaination. My father told me, dont buy stuff, where you dont need. So you can safe a lots of money. And make never dept. its cheaper to pay in cash. I make this in my whole life so. I never had to think about dept, so i sleep better.
@AndyAttrition Жыл бұрын
07:30 You seem to have missed the actuall point. It is more work hard, bild house, rent it someone, stay in your small flat, work more, buy a second house, rent it to someone, work more, die, leave your kids a huge pile of wealth but they dont need the houses. They have build their own one (or two). Thats how a lot of small "dynasties" developed that is some cases own huge portions of the housing markets.
@LenweTaralom77 Жыл бұрын
As a german, this was surprisingly accurate ^^