Three out of ten young Europeans lack money and urge for more home economics educations

Intrum Justitia European Consumer Payment Report 2014:

With a quarter of Europeans admitting to having no money left after paying their bills each month, many of Europe’s youth are struggling to make ends meet with their jobless numbers reaching record heights such as 54% in Spain.

• One out of three (35 %) European households report that lack of money had resulted in them not being able to pay a bill during the preceding six months. One out of four say they have no money left when the bills have been paid.

• Three out of ten young Europeans (15-24 years) say that they do not have enough money for a dignified existence; worst off are Estonians (44%), Irish (41%) and French (40%).

• Three out of ten young people across Europe also say they need improved education in how to handle their home economics.

• UK, Swedish and Finnish parents are worst when it comes to teaching their kids how to handle money. These are also the countries where youngsters are least confident about handling money.

• “Increased access to credit through online shopping and unsecured small loans in combination with lack of household economics education are putting young people at risk. But, our survey shows that Europe’s youth are aware of this and that’s why they want better education,” says Lars Wollung, President & CEO of Intrum Justitia.

A great many young people around Europe have little confidence in their financial wellbeing, according to a new study from credit management company Intrum Justitia. Only one in five in the 15 to 24 age group believe that their particular age group can manage their money successfully.

And the further south you move in Europe, the greater the money management problem being articulated by younger Europeans. With approximately three out of ten young Europeans (32%) saying they cannot make their money go round, youngsters in southern European countries are clearly struggling the most. As many as two out of three young people in Greece (66%) and Portugal (62%) say they are often broke.

The consequences are potentially dire: Many young people in Greece, Portugal, Spain and Italy say the situation has reached a point where they are actively considering moving to another country due to the financial straits in their home country.

Changes in patterns of consumption Close to four out of ten (38%) young people in Europe say they regularly spend money online and about one in four (24%) are spending more money online than in physical stores. The country where young people spend the most money online are Germany, closely followed by Austria and Ireland. The lowest proportion is found in Greece, Portugal and Slovakia.

- Education is a key step towards reducing the upsurge in Europe in personal debt. It has become increasingly more common to shop online compared to shopping in physical stores. This creates a consumption behavior where you can shop anytime and anywhere. Young people need to be taught money management at an early stage and better understand the consequences of falling into debt, Lars Wollung continues.

Lack of money have resulted in not being able to pay a bill during the past six months 35%
After paying bills, I have no money left at all 25%
It often happens that I don't make my money go round 29%
Base: All respondents in European Consumer Payment Report 2014

I would need more education to handle my money/monthly budget better 29%
At the moment I do not have enough money for a dignified existence 29%
It often happens that I don't make my money go round 32%
Base: Young Europeans (15-24 years) in European Consumer Payment Report 2014

In the report Intrum Justitia lists what measures consumers can take in order to keep their household cash flow healthy:

  1. Work out your spending to spend within your means. Get a handle on your household expenses by listing every expense you have each month with the aim of not spending money you don’t have. And follow up on what you have spent.
  2. Think twice before buying something, do you really need it?
  3. Always read the small print and avoid extra costs by always paying on time.
  4. By keeping communication going and striving to reach a solution, you may be able to find ways of solving your debt problem.
  5. Don’t avoid any money problems you may have, get advice as soon as possible and work to get a firm grip on your economic situation.

To request the full report, please visit

About Intrum Justitia
Intrum Justitia is Europe’s leading Credit Management Services (CMS) group and offers services designed to measurably improve clients’ cash flows and long-term profitability, including purchase of receivables. Founded in 1923, Intrum Justitia has some 3,600 employees in 20 countries. Consolidated revenues amounted to around SEK 4.6 billion in 2013. Intrum Justitia AB has been listed on NASDAQ OMX Stockholm since 2002. For further information, please visit

About Intrum Justitia Consumer Payment Report
The first European Consumer Payment Report was launched in 2013. As ‘catalysts for a sound economy’, Intrum Justitia see the need to regularly take the pulse of more than 21.000 of consumers in Europe. The aim is to better understand the realities of life driving consumer behavior when it comes to paying for products and services. The data in the European Consumer Payment Report is based on external self-completion online research, done by strategic research company Trendbox.

For further information, please contact:

Madeleine Bosch, Head of ECPR, Intrum Justitia
Mobile: +31 64 6212 579

Annika Narling, Acting Communications Director
Mobile: + 46 76 789 24 04

About Us

Intrum is the industry-leading provider of Credit Management Services with a presence in 24 markets in Europe. Intrum helps companies prosper by offering solutions designed to improve cash flows and long-term profitability and by caring for their customers. To ensure that individuals and companies get the support they need to become free from debt is one important part of the company’s mission. Intrum has more than 8,000 dedicated and empathetic professionals who serve about 80,000 companies across Europe. In 2017, pro-forma revenues amounted to SEK 12.2 billion. Intrum is headquartered in Stockholm, Sweden and the Intrum share is listed on the Nasdaq Stockholm exchange. For further information, please visit


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