– I don’t trust myself enough to be able to pay back the credit card bill on time, so I will stay away for the time being. That’s what 18-year-old Brage Langelo says. He has just attended a course in personal finance. Brage Langelo is afraid he won’t be able to pay back the money if he gets a credit card. Photo: Bent Lindsetmo / news On 1 January, Norwegian Debt Information presented new debt figures. They show that young people between the ages of 18 and 24 have a total consumer debt of NOK 2.5 billion. That is half a billion more than last year. In Trondheim, young people between the ages of 18 and 24 have NOK 131 million in consumer debt. The debt has increased by NOK 12 million in recent months. At Byåsen upper secondary school in Trondheim, the Grade 3 students have gathered in the auditorium – there courses are held in, among other things, personal finance and consumer debt. The students said that it was a useful course to take with them in the future. Photo: Bent Lindsetmo / news Want to close knowledge gaps The course is held by employees of the competence center PwC. They travel around various schools and address topics such as the dangers and consequences of short-term consumer loans and the benefits of savings. – We are trying to close such gaps that we feel we ourselves did not get when we went to upper secondary school, says project manager at PwC, Hanna Stup. Hanna Stup and her colleagues at PwC will give the young people an introduction to personal finance – something they felt they didn’t get when they were young. Photo: Bent Lindsetmo / news – If we can prevent one of the young people from taking out consumer loans, or at least understand the consequences of that, we are satisfied. In addition, students will receive an introduction to the topic of tax and an overview of what rights they have as employees and tenants. The students are in their last year of upper secondary school, and many will soon be starting their studies and working life. Several of the young people already have part-time jobs and are good at saving. – I actually have a pretty good relationship with finances, says Thea Eilertsen. Nevertheless, there are many temptations. – It can sometimes be a bit difficult to resist. With social media, temptations come everywhere. Thea Eilertsen feels she has good control over her finances. Photo: Bent Lindsetmo / news But the 18-year-old says she can’t afford to buy things she doesn’t feel she has the money for. – You always hear that credit cards are so scary and that they become much more expensive. – There is a bit of a scare about it. But after the course, several of the young people say that they have learned that there are both advantages and disadvantages to the credit card. Consumer debt is increasing On 1 February, the total consumer debt in Norway was NOK 160.9 billion. That is an increase of half a billion in the last month alone. – It is worrying if the increase we see in January continues, while at the same time we have a strong increase in repayment loans, says Karstensen. It can be easy to spend money you don’t really have. Photo: Bent Lindsetmo / news – When we talk about consumer debt, you have to be a little careful. This is according to the general manager of Norwegian Debt Information, Svein Ove Karstensen. – The most important thing is that you manage to pay the bill before it is due. If not, quite expensive interest rates can accrue. According to Karstensen, consumer debt has seen a steady rise in recent years. He says it is quite common for young people between the ages of 18 and 24 to have credit cards. – But they may not get the very large sums straight away, because it depends a little on how much you earn.
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The consumer debt of young people is increasing – now more people are receiving lessons in personal finance – news Trøndelag – Local news, TV and radio
