Furniture saving aid
The furniture saving aid (or furniture saving ) was a loan instrument in the post-war period to finance the purchase of furniture .
It was a combined savings / loan agreement, which today can best be compared with building society savings . In a savings phase, half of the purchase price was initially saved. The purchase was then made using a loan for the second half of the purchase price. This was repaid with the ongoing installments.
According to a Spiegel article , the furniture saving aid was initiated by Alfred Ordinance, the then chairman of the Hamburg Furniture Association. It was first introduced in Hamburg in mid-1949. Then it spread to all three western occupation zones, for example in Bavaria in 1951. Furniture saving was also introduced in the GDR from 1950.
Up until September 1951, this instrument was used to finance furniture for almost DM 60 million in the three western occupation zones (according to today's purchasing power, that is around € 157 million).
Individual evidence
- ↑ Only the money is missing . In: Der Spiegel . No. 27 , 1949 ( online ).
- ↑ Sparkassenverband Bayern, Chronicle: 1951 - Introduction of the furniture saving aid and a general loan aid. ( Page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
- ^ Away from Aunt Frieda . In: Der Spiegel . No. 39 , 1951 ( online ).
