A recent report by Intrum has revealed a concerning financial trend among Finnish consumers: over half are spending as much as they earn, and 22% are living beyond their means. The European Consumer Payment Report highlights the financial challenges faced by consumers, with 75% of respondents in Finland admitting to either breaking even each month or overspending.
The removal of many Finns payment default entries shortly after the credit information law amendment came into effect in December 2022 was a positive development. However, an analysis of debt collection data by Intrum reveals that the proportion of heavily indebted individuals among all debtors has been steadily increasing since 2019. The most significant growth has been observed in the age group of 18-24-year-olds.