Norwegians on vacation
Poles still cannot enjoy very good earnings. Statistics show that still large parts of citizens cannot afford a week's vacation in high season. We leave mainly for the weekend. How does it look in Norway? The latest research shows that citizens are already in debt this season, while they have not yet managed to pay off their debts. What is the reason for this?
Bank Respons Analysis for Sparebank1 - Disturbing Research Findings
The results of the analyzes are somewhat surprising. It turns out that nine out of ten respondents declare that they do not have to borrow money for this year's vacation. However, as many as 2% of respondents admitted that they would be forced to take a vacation on a loan or would have to borrow money for this purpose. 6% say they can take a vacation loan for themselves and their family.
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Norwegians on vacation ... let's talk about specific numbers ...
When we show the problem as a percentage, it seems that it's not that bad at all. However, when we translate this scale into numbers, the situation looks less rosy. This means that around 310.000 Norwegians will definitely or probably take out a vacation loan. The indebtedness largely affects young people aged 25 to 35 who are just getting a job, starting a family or buying a flat.
Leave on credit - in a spiral of debt ...
These trends are very disturbing. One loan entails a large loan. AND Norwegians often choose a vacation they simply can't afford. What about economists?
“Such an approach is very unwise and may lead to being trapped in a life of luxury with little money. Today we live lavishly, we spend the money obtained from consumer loans, but we do not think about the fact that one day the borrowed money will have to be paid back. This way of thinking is the beginning of a debt spiral. Some people do not realize how long it will take before the loan is repaid. Then it often turns out that it was the most expensive holiday of your life.”
How to pay off the loan and sleep well?
Have you taken out a loan and you are not able to pay it back? Economist Magne Gundersen from Sparebank1 comes to the rescue.
“If you have taken out a holiday loan, you should probably aim to pay it off as soon as possible. After repayment, let's start saving specific amounts of money monthly for the next vacation. In this way, you can collect additional funds which, together with additional holiday pay, will allow you to go on a well-deserved rest. And if this does not allow you to go on your dream vacation without taking out a loan, you should lower your holiday requirements and ambitions.”
And you, where are you planning to go?
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