Sky-high inflation has gripped the global economy and thrust saving money into the spotlight. Meanwhile, just as the pandemic is finally seemingly starting to wind down, the events in Eastern Europe have ratcheted up the uncertainty factor. The one-two punch of inflation and the potential for rising interest rates have exacerbated an already precarious situation. We thought now was a good time to explore ways to save money and potentially add additional revenue streams in 2022.

During the best of times, Europeans are disciplined savers and under sock away 12% of their earnings, according to the IMF. Between 2020 and 2021, at the height of the pandemic, the savings rate increased to nearly 19% as lockdowns and social distancing measures cut into spending. Put another way, during that time frame, Europeans are estimated to have saved close to $1 trillion more than they otherwise would have were it not for the restrictions, setting a new record as savings rose to the equivalent of 8% of the eurozone’s GDP. (mehr …)

It’s no secret that the Baltic nations are considered a hub for fintech activity. This is especially true in the wake of Brexit, given the compliance and regulatory uncertainty surrounding financial services between the U.K. and the European Union. Entrepreneurs need more clarity. Latvia, Estonia, and Lithuania are increasingly bridging that gap, thanks to a culture of nurturing tech innovation and embracing digitization that in many ways have made the Baltics the envy of the world.

Fintech is the intersection of finance and technology. It is a sector that looks to tech to make financial services better and more intuitive for consumers and businesses alike. The sector has disrupted legacy financial systems by leaning into what consumers want and the way in which merchants and entrepreneurs can deliver. The Baltics take the lead in areas like peer-to-peer (P2P) investing, where the region has the largest slice of the market in the EU, with France in a distant second. (mehr …)