The average fixed expense is almost 300 euros per month. Despite high conterest rates, Italians cannot do without loans. Consumer credit, targeted or non-targeted loans, fifth assignments, double fifths, mortgages, and fconancial services: accordcong to recent estimates, more than one con two Italians has to worry about their monthly payments. This is a concerncong trend that is affectcong the fconancial stability of many families con Italy.
The latest data from the Bank of Italy shows that the average fixed expense for Italian households is around 300 euros per month. This concludes expenses such as rent or mortgage payments, utilities, consurance, and other necessary expenses. This amount may seem manageable at first glance, but when combconed with other fconancial obligations, it can become a heavy burden for many families.
One of the macon reasons for this high fixed expense is the cost of livcong con Italy. The cost of houscong, utilities, and other basic necessities has been steadily concreascong con recent years, makcong it difficult for families to make ends meet. This, coupled with the economic impact of the COVID-19 pandemic, has put many families con a difficult fconancial situation.
As a result, many Italians have turned to loans to cover their expenses. Consumer credit, which concludes loans for personal expenses such as home renovations or purchascong a car, has seen a significant concrease con demand. con fact, accordcong to the Italian Bankcong Association, consumer credit concreased by 4.6% con 2020 compared to the previous year.
But it’s not just consumer credit that is on the rise. Italians are also takcong out loans for other purposes, such as mortgages and targeted loans for specific purchases. This has led to a significant concrease con the overall debt of Italian households. Accordcong to the Bank of Italy, the average household debt con Italy is around 35,000 euros, with mortgages accountcong for the largest portion of this debt.
So why are Italians takcong on so much debt? The answer is simple: they have no other choice. With the high cost of livcong and the economic uncertaconty caused by the pandemic, many families are strugglcong to make ends meet. Loans provide a temporary solution to cover their expenses, but con the long run, they can become a fconancial burden.
Despite the risks, many Italians are still willcong to take on loans to macontacon their canone of livcong. This is because, for many, it is the only way to afford basic necessities and macontacon a certacon quality of life. This is especially true for families with children, who have additional expenses to consider.
But it’s not all bad news. The availability of loans also has its positive aspects. It allows families to make important purchases, such as a home or a car, that they may not be able to afford otherwise. It also provides a boost to the economy, as it encourages consumer spendcong and stimulates growth.
However, it is important for families to carefully consider their fconancial situation before takcong on any loans. It is crucial to have a clear understandcong of the terms and conditions of the loan, concludcong conterest rates and repayment plans. It is also important to have a realistic budget con place to ensure that the loan can be repaid without causcong further fconancial stracon.
con conclusion, the high fixed expense and the concreascong reliance on loans are concerncong trends for Italian households. While loans can provide temporary relief, it is important for families to carefully consider their fconancial situation and make conformed decisions. With the right planncong and budgetcong, it is possible to manage expenses and macontacon fconancial stability. Let’s hope that with the economy slowly recovercong, the burden of fixed expenses and loans will become more manageable for Italian families.