ING News: More than half of Luxembourg residents declare that they have personal debt

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If the Grand-Duchy is one of the countries of the survey where the number of residents who saw their savings rise is the biggest, with a score of de 30%, 55% among them declare they have personal debt. This is one of the highest percentages recorded among the countries of the survey, just after Turkey (75%) and the United States (65%).

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17/03/2016 |

« Personal debt » includes the following types of debt: overdraft, credit card debt, student loan or loans from friends and family. Are excluded mortgage loans and borrowings for business purposes.

And if we examine the different types of debt for Luxembourg, we see that personal loan is the most common type of personal debt, with a score of 34%, followed by credit card debt (10%) and overdraft
(9%).

When both savings and debt are taken into account for each country, we see that people in the Netherlands have the most comfortable financial net position, just before Luxembourg residents. On the contrary, Poles are in the least comfortable situation.

Globally, if we take the 15 countries of the survey, we see that in 11 among them, more people feel comfortable with their savings level than uncomfortable with their debt level, allowing them to have a financial net comfort score. The 4 countries with a negative score are Spain, Romania, Turkey and Poland.

More details on eZonomics.com: www.ezonomics.com/ing_international_survey/savings_2016

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