French people are among the savings champions in Europe. At that time, nearly 25 percent of those surveyed stated that they saved between 1,000 and 1,999 euros annually on the various savings products available on the French market.
French values
Equality and unity are important to the French. Liberté, Egalité, Fraternité'are often identified as essential to what it means to be 'French'. For many, the values of equality and fraternity indicate that the French are a unified and undivided group.
Real estate, preferred investment of the French
Real estate ranks first among investments regarded as "the most appropriate for saving over the long term, for the next 15-20 years, for retirement for example". Employee savings plans follow, life insurance (euro-guaranteed contracts) comes third.
Indeed, the richness of French culture is partly due to its diversity. The country is also well known and inextricably linked to its 'art de vivre. ' France is often presented as a model for tableware, cuisine, aesthetics, refinement or elegance.
The French 'save more than other countries, at around 15% of their income'. And the majority of the population put their savings into a financial investment 'Livret A' account, where the interest rate is low and fixed by the State but is also guaranteed by the State and tax free.
The median wealth of people in France is €177,200 including property, while one in 10 holds more than €716,000, and one in 100 has more than €2.24million, a new study released on January 25 shows. The 'median' means that half of the population holds less, and the other half more.
No figures are provided by the French Consulate service of what level of savings can be taken into account, but it is likely to be at least 5 times the annual minimum income requirement (so €1,219 per month x 12 months x 5 years = €79,740).
The top ten countries by savings rate were Macao, the Republic of the Congo, Qatar, Ireland, Brunei, Singapore, Luxembourg, Gabon, the UAE, and China.
Tourism, manufacturing, and pharmaceuticals lead France's diversified economy. The government has partially or fully privatized many large companies but maintains a strong presence in such sectors as power, public transport, and defense.
The French are generally very proud of their way of life, with an emphasis on taking time for personal relationships, preparing and enjoying meals, and enjoying the present moment.
The French favour design over practicality. They like innovation for the sake of creativity, even when there is no practical need for it. (incidentally, this is the polar opposite of the Japanese mindset). The French raison d'être is "measured intellectual performance".
What is the personality of France? The French people are known for having good etiquette, but always arriving at their destination fashionably late. They take the time to savor their meals and have an appreciation for fine dining, formal dress, and intellectual conversations, but they do not argue about money.
There are two methods of calculating a holiday allowance: The rule of maintenance of salary – employees receive a salary that they would receive if they worked normally. The 10th rule – employees are entitled to 1/10th of their total remuneration received over the reference period.
For French residents : the 30% flat-rate levy (of which 12.8% for income tax and 17.2% in social levies) applies to investment income including dividends, interest and capital gains on the disposal of securities and shares. The 40% allowance on dividends and similar income does not apply.
France offers the world's best quality of life and retiring here is more affordable than you might think. In fact, France is included in our 2023 Overseas Retirement Index. If you'd like to reinvent your life in this culture-rich European country, make sure to check our France Starter Kit here.
Savings as percent of GDP, 2021 - Country rankings:
The average for 2021 based on 137 countries was 23.14 percent. The highest value was in Qatar: 51.43 percent and the lowest value was in Sierra Leone: -2.98 percent. The indicator is available from 1960 to 2021.
Among the 12 European Union (EU) countries for which there was data available in 2022, Ireland had highest savings per capita. Household gross savings in Germany, the largest economy in the EU, reached a value of 5,976 euros per capita.
Other countries with gross national savings falling below 3%of GDP are Sierra Leone, Libya, Grenada, Dominica, Burundi, and Eritrea. Many of the countries on our list will require extensive economic development and financial reform in order to garner enough savings to build up their long-term financial security.
Salary for a comfortable life in France
Earning around 3,200 euros per month is considered a good income for individuals or 5,600 euros for a family of three. This amount takes into account the cost of living and allows you to cover your basic expenses such as housing, food, transportation, and leisure activities.
Overall, grocery shopping in France is expensive compared to many other countries.
What is average wage in France? Average Wages in France increased to 3321 EUR/ Month (3699.042 USD/Month) in 2021. The maximum rate of average wage for employees was 3137 EUR/ Month and minimum was 1752 EUR/ Month. Data published Yearly by National Institute for Statistics and Economic Studies.
France is one of the world's largest economies and is currently at rank 7. If this is calculated per inhabitant, taking purchasing power parity into account, then France is in the list of the world's richest countries in place 26. Inflation in France in 2022 was around 5.22%.
France offers a consistently high quality of life, though life can also be hard if you don't speak the local language. France makes the top 10 for health and well-being. Only 19% find it easy to live there without speaking French. Childcare and education are affordable.