Saving for the Future: Germans vs. Americans

OK, not really, but I did read an article today that talk about the absolute piss poor savings rate most Americans seem to have. What was interesting was that they directly referenced German savings rates vs. those in the U.S. Although the article wasn't really about comparing the two cultural viewpoints (really it was about how to get people to save more through inertia in decision making), I was just struck by the fact that they used Germany as a comparison.

Having now lived in Germany for over a year I've had ample opportunity to experience German attitudes towards money. While Germans may save a greater percentage of their paycheck in many ways it is because they simply have to in order to pay for ordinary or extraordinary purchase. Unlike the U.S. where a mindset of living on credit prevails, Germans rarely use credit cards. In fact, in quite a few places they aren't even accepted. When they do use credit cards, they often have to pay the balance off in full at the end of every month. So instead they live in what is primarily a cash based society. As a result, in many ways they simply don't have a choice. They MUST save more in order to do things like buy furniture, repair their cars, take vacations. They can't simply put it all on a credit card and pay it off over a period of months. A radically different situation than what currently exists in America, don't you think?

Anyway, just an interesting article to read now that I've got a bit more of the German perspective going on here. I think the Germans have the better approach than we do in some ways, somehow it just seems like it's better to live within your means. . . .

Hug, hug, hug

It is a cold and rather rainy Spring day in Frankfurt this Saturday. One of those miserably damp days that just seems to sink into all the aches and pains leftover from a stressful week. Nick's friend Mike was in town visiting for the day and despite the unfavorable weather we ended up sitting outside at my favorite Saturday farmer's market at Konstablerwache having pancakes and cappuccinos before Mike had to catch his flight. As we walked him down into the subway, we suddenly found ourselves surrounded by about 6 or 7 people carrying signs that said "Free Hugs" in a couple of different languages.

I have no idea what this was for or who was organizing it, but we all got hugs from the people with the signs. I got two for taking this picture. . . . It's definitely one way to brighten up a rainy April morning.

*** A quick addition to this. After a quick bit of research, apparently there is a Free Hugs Campaign out there. Check it out.

Mountain Lions and Earthquakes in Chicago? What next??

Rubble lies in the street Friday in Louisville, Kentucky, after part of a cornice fell off a building. (Taken from the CNN website, see below link)


First a mountain lion appears in Roscoe Village earlier this week and now an earthquake has struck Southern Illinois. This morning around 4:30am a 5.2 magnitude earthquake shook Southern Illinois with enough strength to make the buildings in Chicago sway.Granted Illinois happens to sit on top of a rather major fault line in the continent, but still, it's not like this is California or something.

I think the world has gone a little off kilter this week. Maybe it's the full moon that's about to strike, I don't know. But I have to admit, once again I'm really starting to wonder if I just shouldn't stay in Europe, I think it might be safer. . . .

Return of the Wild!

Snowy Frankfurt Mornings

Well, after all this time I finally have the chance to see a little snow in Frankfurt. What a surprise to wake up this morning and see the rooftops frosted with snow. I didn't actually think it would happen while I was here now that it's practically spring time. Then again, there's been a lot of snowfall in the Alps so I suppose it's not quite as crazy as it might seem.

I guess this means that I won't be biking into the office this morning.