A survey conducted at the request of Wikifin, in collaboration with L’Écho, Radio 2, and Bel RTL, provides insights into the credit behavior of Belgians. Analysis on the average monthly repayment.
Wikifin, the financial education program from the Financial Services and Markets Authority (FSMA), published the results of a survey conducted on Monday, March 12, 2018, involving 1,000 Belgians. Let’s explore the findings together.
Belgians and Credit
66% of the Belgians surveyed claimed to have at least one credit. On average, they reported repaying this or these credits at a rate of €864 per month.
The credits taken out by Belgians are mainly used to cover significant expenses such as buying a home or purchasing a car. Moreover, according to this study, Belgians are approximately 29 years old when taking out their first mortgage.
It seems that not everyone perceives the concept of credit in the same way… Indeed, only 27% of Belgians consider buying a discounted smartphone with a subscription as taking on a loan. 40% feel the same about bank credit cards, while 68% of respondents do not see store credit cards as a form of debt.
Belgians and Debt
Wikifin then sought to understand the behaviors we tend to adopt when facing financial difficulties.
It turns out that the bank remains, by far, the most preferred borrowing channel for Belgians. 67% of us consider the bank as a solution in such cases. 13% turn to family, while 15% opt for a credit card.
Do you see yourself in these statistics? Need cash? Looking to take out a loan? Credafin offers numerous credit options and is at your service for any further information. Feel free to contact us!
