For many households, the summer has become something of a cost shock. At the same time as inflation and high interest rates have eroded the household budget, travel, restaurant visits, and entertainment have become significantly more expensive.
Borrowing extra money to have fun during the summer may seem tempting to many. Perhaps one has taken from one's savings to afford the vacation, or bought on credit to be able to take the family to restaurants and amusement parks.
We know that many take loans and credits to vacation, says Davor Vuleta, private economist and spokesperson for the Enforcement Authority.
The most important thing is to make a calculation in advance to see if you can pay after the summer.
More shop on credit
The fact that more people are using credit is shown by figures from the business and credit information company Upplysningscentralen (UC). In July, 52 percent used credit, which can be compared to 45 percent in the summer of 2022.
For those who do not want to end up in debt difficulties in the autumn and winter, it is important to be active, says Davor Vuleta.
The worst thing you can do is to stick your head in the sand. If you can't pay, it's important to contact the one you owe money to. It costs nothing and that way you can avoid the debt growing even larger.
He points out that an invoice of 500 kronor, when it has gone through all the steps with reminder fees, collection claims, interest, and fees, can end up at over 2,000 kronor.
Another tip is to turn to the municipality's debt counseling, which can help find solutions.
Lower the standard
It is also important to sit down with pen and paper and make a traditional budget.
What do I have for income and are there any expenses I can reduce to manage all these commitments? says Davor Vuleta.
The advice is to prioritize rent, electricity, and food. But much else can be reviewed, such as streaming services, mobile subscriptions, and even certain types of goods that are not necessary.
We may have to be prepared to lower our standard a bit and not continue to live as if we were not in economic difficulties, says Davor Vuleta.
Before next summer, the advice is to plan long-term.
If you had to borrow to treat yourself to something this summer, maybe you should start setting aside a few hundred kronor a month for next summer already now if you can.
