When money is tight, buying on credit is the most popular way of getting help for people living in Germany, a survey published on Wednesday showed.

The poll, conducted by the firm YouGov for the TeamBank company, asked 3,160 people between 18 years and 79 years in June and July what forms of credit they used.

Some 73 per cent stated that they had used at least one financing option before, with the most popular, at 38 per cent, being buying on credit.

Nearly a third (29 per cent) said they used the overdraft facility at their bank.

Those who opted for purchases in instalments came in at 26 per cent, while 28 per cent took out loans for larger purchases, such as real estate.

Those with more money are more likely to use financing, according to TeamBank.

Of those who have previously taken out a loan for larger purchases, 46 per cent have a monthly net household income of €4,000 ($4,320) or more.

The picture is different for people on lower incomes.

For example, only 13 per cent of respondents with a monthly household income of less than €1,000 ($1,080) have opted for a loan for major purchases or a classic instalment loan.

Still, 27 per cent say they do not use financing, the bank said, and 56 per cent said they only use it in exceptional cases.

Of those surveyed, 30 per cent are worried that they will not be able to meet their payment obligations on time.

The survey also showed that one in three people have less money available each month compared to a year ago. 

(dpa/NAN)