Shocking: families are increasingly indebted

Life is not getting any cheaper. Especially if you still have a few mouths to feed. Rising interest rates, extremely expensive groceries, childcare allowance down; what has actually not become more expensive? It is therefore mainly families with children who get into debt.

Research by Independer shows that 46% of loan applications come from families with children and on average they want to borrow around 16,140 euros. That amount has increased by 10% compared to last year.

Families borrow for this

Where singles or couples without children opt for luxury products such as a boat or holiday home, it is a bit different for families. Families mainly borrow for a caravan, a renovation or the purchase of a new car.

Read also: ‘Up to your neck in debt: “We haven’t made any progress for years”

According to Manfred Stieltjes, financial products expert at Independer, this is because everything has become more expensive. A caravan is expensive to purchase, but you will enjoy it for many years and you can ultimately go on holiday cheaper than renting accommodation every year. The same applies to cars and renovations. “New, but also second-hand cars have become more expensive in recent years. And people who wanted to move have resigned themselves to the fact that they had no chance in the overheated housing market and opted for an upgrade of their existing home.

Rather use your savings

Manfred does not necessarily encourage borrowing either, he explains in an interview with the AD. “If you have savings, it is always better to use savings for major expenses. It is important to borrow wisely, which is why it is good that lenders take a critical look at income and fixed costs.”

Do you want to make an extensive calculation to see whether your loan fits your budget? Nibud has created the Lending Risk Meter tool for this purpose. This way you can check the impact of the loan on your monthly fixed costs.

Source: Independer, AD