Almost half (44%) indicate that there is less money available this year after paying fixed expenses compared to last year. But there is also a visible shift in the payment morale of Dutch consumers.
Buffers are melting away, while overview is lost
Over 31 percent of the Dutch indicate that they have only one month's income or even less as a buffer available. Despite the almost empty savings account, many consumers are tempted to live beyond their means. More than a third (39%) of the Dutch, for example, are surprised at how subscriptions can add up monthly without them realizing it. Consumers also say they have less visibility on their short-term loans (13%) and a quarter (24%) finds it difficult to keep track of their 'buy now, pay later' purchases.
Companies are the victims
Companies are increasingly becoming victims of the shift in payment morale among consumers. One-fifth of consumers say they feel less guilty about skipping or paying a bill late. This results in over half (58%) of Dutch organizations being unable to pay their suppliers on time and facing payment problems themselves. Many consumers also continue to fill gaps with gaps. Over 16 percent say they have used a loan or credit card to pay bills.
Although consumers consciously choose not to pay bills or to pay them late, they do expect leniency from companies. One-third say they do not expect negative consequences when they pay bills late. Almost 60 percent of consumers even believe that, in times of recession, they have more right to flexibility and support from companies and the government when paying their bills.
Guy Colpaert, Managing Director at Intrum Benelux "It is shocking to see that such a large part of our population lives beyond their income. The challenging economic times show that every euro is worth less, and that requires a behavioral change. It is not sustainable for consumers to live above their means for long. It is important for consumers to get their spending patterns under control. If they do not, it will lead to problems sooner or later. For companies, it is essential to engage and maintain conversations with their customers/consumers to identify and address payment problems early."
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