Suppose you invest 1,000 euros with an interest rate of three percent per year, with the interest paid monthly and added to the basic amount.
How much money do you have after a year - 1030 euros, more than that or even less?
Almost half of Germans guessed wrong in a representative Allianz survey. And that is just one example of several similar questions that showed that financial knowledge is in poor shape in this country. However, this has costly consequences. Because the result is incorrect assessments of return and risk and the resulting wrong decisions when investing money. WELT explains nine common financial mistakes - and how things really work.