December 9, 2022


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Generation Z and its long extensions.  Inflation is already hitting young people.  Student expenses are increasing [RAPORT] 'They may find themselves in a difficult financial situation'

Generation Z and its long extensions. Inflation is already hitting young people. Student expenses are increasing [RAPORT] ‘They may find themselves in a difficult financial situation’

guy the students The vast majority cannot take a full-time job workAnd the cost of living is rising. According to data from the BIG InfoMonitor Debtors Register and the credit information database BIK, today there are approximately 27 thousand people in the 18-24 age group. fewer unreliable debtors than in March 2020, religion It is less by 347 million PLN, but the outstanding debt is still real.

There are still 125,000 in the databases. Unreliable payers of this age group who have arrears of PLN 853 million. “Furthermore, it may be difficult to maintain the downward trend in the future, due to the economic situation which has already affected the attitude of this age group towards spending the existing money” – We read in the announcement of BIG InfoMonitor.

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Inflation hits students’ wallets. Average monthly expenses are increasing

According to the data of the Central Statistical Office of Poland, at the end of 2021, more than 1.2 million people were studying at local universities. This is more than half of all Poles between the ages of 19 and 24. Most of them are different from those who are not in school because they cannot take a full-time job workwhich may adversely affect their financial situation.

The InfoDług report prepared on the basis of data from the BIG InfoMonitor Debtors Register and the BIK Credit Information Database shows that The total arrears liabilities of Poles aged between 18 and 24 years amounted to more than 853 million PLN after the first half of 2022.. This is slightly less than at the end of last year, when this amount fluctuated around 900 million PLN and certainly less than it was before the pandemic, because in March 2020 the overdue debt amounted to 1.2 billion PLN.

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Will this trend continue? The Student Portfolio 2022 – by the Warsaw Banking Institute and the Polish Banking Association – shows that The average monthly expenses for a Polish student is still increasing and is now around 3,177 PLN. For comparison, a year ago it was 2740 zlotys, and two years ago – 2652 zlotys. As a result, more than a third of respondents (38%) reported a deterioration in their financial and material situation – BIG InfoMonitor reports.

This is confirmed by the results of a survey conducted by Quality Control at the request of the BIG InfoMonitor Debtors Register. It shows that every third (34%) respondents aged 18-24 have no savings at the moment (at least three a wage) And such a country things It lasted for half a year. every five (21 percent) had a financial guarantee, but lost it in the past six months.

With a high degree of probability, we can say that the provisions were made for daily expenses, which are now immeasurably higher than they were a few months ago. Young people – regardless of whether they are already working or still studying – may soon find themselves in a very difficult financial situation. Economically active people are just entering the labor market, and their salaries are often not high and not enough to cover all needs. On the other hand, such students can only work part-time, and at the same time they do not always have the opportunity to benefit from the support of their parents or grandparents, who also face the consequences of the crisis.

– said Sławomir Grzelczak, President of BIG InfoMonitor, quoted in the announcement.

Amount of arrears among 18-24 year oldsAmount of arrears among 18-24 year olds Source: BIG InfoMonitor

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Most often, young people do not pay their debts. The record holder has more than 700,000. Debt PLN

“The pandemic and its consequences, such as severe lockdown and distance learning, have undoubtedly benefited young people. Returning to family homes and enjoying the hospitality of their parents has resulted in many students losing a significant portion of the costs associated with self-living – rent, daily shopping. Analyzing the data we collected, We can see that in 2018-2020 their arrears increased twice as fast as the general public, and since March 2020 they have been systematically decreasing ”- added the professor. Waldemar Rogovsky, Principal Analyst, BIK Group.

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Young people often forget to pay their debts. In the BIG InfoMonitor Debtors Register and the BIK database, there are 77,006 men (arrears – 520 million PLN) and 47,638 women (arrears – 333 million PLN) between 18 and 24 years old.

Amount of arrears among 18-24 year oldsAmount of arrears among 18-24 year olds Source: BIG InfoMonitor

BIG InfoMonitor explains that The population of the province is the most indebted in this Silesian age group, which has approximately 118 million PLN in outstanding payments. It also comes from this region The record holder – the 21-year-old is in arrears with banks and financial institutions of more than 708 thousand. zloty. The following places are occupied by registered persons in the following provinces: Mazowieckie (111 million PLN) and Dolnośląskie (93 million PLN). However, the least outstanding debts have people from the province. Świętokrzyskie (15 million PLN). The highest average overdue debt is observed in the province. Greater Poland (PLN 7502), and the lowest in Lublin (PLN 5430).

Debt amountsDebt amounts Source: BIG InfoMonitor

Debtors record holders between the ages of 18 and 24 CountiesDebtors record holders between the ages of 18 and 24 Counties Source: BIG InfoMonitor

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Alimony, bills, rent – with these payments, young debtors face the biggest problems

Data collected in the BIG InfoMonitor Debtors Register and the BIK credit information database show that non-credit arrears have the largest share of the total amount of debt owed by young people. The total amount of overdue obligations, such as current bills, rent or alimony, is more than 464 million PLN. That’s an average of 4,853 PLN per person. “If we take into account only unpaid alimony, then the average will already be 9,811 PLN. In the case of fines for driving without a ticket, it will be 295 PLN, and communication bills – 3,378 PLN” – we read.

Guys definitely have more of this kind of arrears. There are approximately 60,000 of them on record. They have over PLN 278 million in past due non-credit obligations. For comparison, there are only 36,000 women whose debts do not exceed 186 million PLN.

Amount of arrears among 18-24 year oldsAmount of arrears among 18-24 year olds Source: BIG InfoMonitor

Although in the case of credit obligations the total amount of outstanding debt is slightly lower, since it does not exceed 389 million PLN, the average debt per person is higher and reaches 6000 PLN. zloty. “This is evident due to the fact that the vast majority of premiums are much higher than the current bills” – the statement reads. The average outstanding debt is 57 thousand. PLN in case credit housing and 6 thousand. PLN in case of depreciation. Here, too, men have the advantage. There are 37,000 unreliable debtors, and 25,000 unreliable debtors.

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