You read about it more and more: young people who get into debt on the road to financial independence. But how can this happen? We have put together significant findings from various studies and compiled tips on preventive measures.
Statistically, young adults aged 18 and over with a low level of education, incomplete training, a lack of professional qualifications, and low income are most at risk.
What parents can do: emphasize the importance of school and education and provide active support so that their child succeeds in completing their studies.
In addition to unemployment, over-indebtedness often starts with young parenthood, leaving the parental home (too) early or – especially in the case of young women – emotional dependencies on partners.
What parents can do: be involved, discuss the situation together and, if necessary, seek professional help.
Psychological factors are just as important as the financial skills learned. Self-confidence, the ability to postpone rewards and self-control are important safeguards. Young people who have the confidence to handle their money well and who have control over their own scope of action are less likely to get into debt.
What parents can do: transfer financial responsibility and trust to their children early on and in a controlled manner.