Loan for home electronics / appliances – almost 40% of Poles use it.
Record debt of Poles
Sometimes there is no other way. The inability to obtain financial support from family or friends and the small amount of savings in the home budget mean that the only option is to incur, usually short-term, commitments. One should know that Poles have been indebted to power for several years and with each subsequent year more and more.
For our countrymen, a loan or credit is one of the most popular methods to get out of a financial hole or to repair a personal budget. The report of the NatRegister of Debtors shows that as many as 15 million Poles have debt, and a large proportion of them are unable to pay their debts regularly, thus falling into a so-called debt spiral. Financial market experts do not hide that the situation is getting worse with each subsequent year, and forecasts indicate that, unfortunately, it will not be better in the near future.
Currently, according to KRD, the record holder in terms of the amount of debt, has to refund up to 45 million USD! Seventeen major debtors in the country have as much as 122 million USD to pay. 29% of indebted Poles have a problem with timely debt repayment. Nearly ⅕ of the respondents realize that they may have difficulty paying regularly, but many approach the issue according to the principle that somehow it will be.
In the face of being unable to pay back the debt, a large group is trying to extend or postpone the date for giving back the money. Others, however, out of concern for the home budget, are looking for additional work to collect the necessary funds.
According to the report, most liabilities are incurred by men (76% of all debtors). To date, nearly 30 million loan or credit agreements have been signed in Poland, and the total indebtedness of the inhabitants of the country on the Ventula is already over 57 billion $!
A Pole in need
The PolBank Group from time to time discloses the results of its statistical research on, among others, what our compatriots are borrowing from. The results leave no illusions.
Most, as many as 8 out of 15 million Polish debtors, borrow for consumption and current needs. Alarming is the evidence that the percentage of these borrowers is increasing every year. On the other hand, the number of people who decide to incur a monetary commitment with investments in mind decreases.
Only half of Polish borrowers declare that before entering into a commitment, they looked at their financial condition and thoroughly analyzed all risks arising from a loan or credit agreement. In this, women (59% of respondents) are more interested in their own material situation and its assessment than men (48%). The above-mentioned research, commissioned by ProfitCred, shows that over the past two years, every third Pole has taken out a loan or credit.
The most popular products – a loan for home electronics / appliances
The same statistics show that the majority of borrowers are looking for additional money to buy in one category – this is a loan for home appliances. This is as much as 39% of all debtors. At the top of the list of products that are purchased for the funds obtained, for many years desktop computers, laptops and naturally telephones have dominated, i.e. devices that have become an inseparable element of everyday life for many of us.
What else do we borrow?
The purchasing needs of women are different from those of men. Undoubtedly, the loan for home electronics / appliances enjoys great interest. What else do you borrow ladies? 23% of them allocate the funds obtained to generally meet basic needs, and 22% to settle their existing receivables, including monetary liabilities. In addition to expenses related to home appliances, in the case of men, the funds borrowed go to the purchase of a car (22%), real estate investments or holidays (the situation is similar for women, 19% of respondents).
Profile of the Polish borrower
It turns out that greater awareness and the need for calculations when making a commitment comes with age. In the 55 to 65 year range, up to 80% of borrowers admit that they are testing their financial capabilities. In the remaining age groups, as already mentioned, only half of those surveyed do so. This may indicate a lack of financial education among young Poles, as well as the fact that they approach material issues irresponsibly, without thinking about the future.
This situation may also result from the fact that young people know that they are able to work and will take an additional order and will somehow deal with the commitments they have made. Older people are aware of the risks, think about their health or are aware of the fact that in their case employment stability may be different, and in the event of job loss it is not easy to find a new one.
Indebted as a Pole?
Studies prove that the financial condition of Polish citizens is not good. They also show the relationship between the desire to borrow and the availability of such services in our country. Every year, more and more companies providing loans and credits appear on the market. They tempt with numerous promotions and occasions that may not happen again. Loan for home electronics / appliances, payday loan, no certificates, no checking in the debtors’ databases – these are just one of many passwords that non-bank institutions serve us. Low salaries, instability of employment and in many cases help from the state or relatives causes that our compatriots are forced to borrow for current purchases, holidays, trips. This also happens according to the proverb Pawn and put yourself. Is it worth it However, everything is for people, of course, within the limits of common sense.