In 2022, demand deposits will represent 544 billion euros, according to the latest data published by the Banque de France.
As for savings, the current account is an investment appreciated by the French. About 30 billion euros have been bet since the beginning of the year. According to the latest data published by the Banque de France, demand deposits represent 544 billion euros. This is higher than the 491.8 billion euros deposited in Livret A and Livret de développement durable et solidaire (LDDS), according to figures from the Caisse des dépôts et consignations stopped at the end of July.
On average, this represents 18,430 euros in the current accounts of each of the 29.5 million French families, according to MoneyVox calculations. It was less than 7,000 euros, 15 years ago. On the MoneyVox forum, an Internet user also reports that his 70-year-old mother “leaves” 160,000 euros in cash in her checking account. Another example and no less: that of Emmanuel Macron. In his last statement of assets, published in December 2021, the Head of State specified that he had 166,685.90 euros in his joint current account of Crédit Mutuel. Almost a year of his salary.
Keep 3 to 6 months of precautionary income
It is often recommended to keep 3 to 6 months of precautionary income in case of financial difficulties. When inflation approaches 6%, it is better to be financially secure. In addition, apart from Macif or Groupama, no bank pays demand deposits. Leaving too much money in your checking account is a guarantee of losing even more purchasing power.
“The bank adviser, through his advisory duty, must guide the client towards products that prevent them from devaluing their assets too much, especially in this context of high inflation”, says Aurélien Soustre, representative of CGT-banks and insurance in the Advisory Committee of the Financial Sector. And to continue: “This starts with risk-free regulated savings (Livret A, LDDS, PEL, etc.)”.
According to Cyril Blesson, macroeconomist, “Current accounts should see their balance increase by 32 billion euros this year and by 5.6 billion euros in 2023 alone”. Then, from 2024, there should be the beginning of a flow of deposits on demand. But the move could be quicker to materialize.