• Sweden edition
 

Swedes reach new peak in mountains of debt

Published: 29 Dec 2009 10:24 GMT+01:00
Updated: 29 Dec 2009 10:24 GMT+01:00

Total debt has risen by 9 percent since the same period last year, though the number of people in debt has dropped somewhat from 363,558 to 359,961, according to a review by credit firm Soliditet.

Kronofogden's creditors owed a median amount of almost 40,000 kronor, up 7 percent on the previous year.

Figures show that women are becoming indebted at a faster rate than men, according to Soliditet, which also notes that increasing numbers of people over the age of 60 are finding themselves in debt.

The number of people in debt is rising quickest in Kronoberg and Blekinge counties, while Västernorrland and Jämtland have both seen a reduction in the ranks of the indebted.

TT/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

11:46 December 29, 2009 by Hagen
Too many Immigrants causes too much money in social security being paid out which means higher taxes for those working, so they borrow money.

Who ends up happy ? Immigrants of course, they have no responsibilities and no need to get into debt because you have a government that would Bankrupt itself just to continue payments to new arrivals !
11:59 December 29, 2009 by Thebinary1
That does not mean you are anti-immigration is it?
12:00 December 29, 2009 by miau
@Hagen Don't you think you're posting your drivel on the wrong web site? Yet another penetrating analysis on The Local's comments board. The same statistics can be seen in every country nowadays.
15:38 December 29, 2009 by simepal
@Hagen.Your posting shows just how much you misunderstood this article.

Let me bring the following to your attention:

1)The article says "Swedes" referring to individuals owing the state institutions and NOT "Sweden" as a Nation.

2) If the article had referred to SWEDEN getting into much debts as a Nation then your Immigrant Conspiracy Theory migthave had some little weight, but FORTUNATELY it says SWEDES, referring to you and many of your kind who borrow and never pay back even if you know you dont have the means to pay.

So next time you accuse Immigrants for the debts Swedes owe the institutions ask yourself if those Swedes borrowed the money to make free gifts to immigrants.
10:25 December 30, 2009 by Weekend_warrior
I think what Mr. Hagen was trying to refer to is the misuse and disproportionate amount of socialized funds to refugees, which has resulted in Swedes needing to seek alternative sources (debt) to fund their lifestyle.

I personally would contribute this more to the recession and a rising unemployment level. The article did state that the number of people in debt has dropped. While I am too lazy, I would bet we could find historical data to support such a claim.

While I am a fan of Sweden's immigration policy, but against their once lax policy to asylum seekers, I do not believe there are enough of them taking the cake at the moment to have any real impact on the nations annual budget and overall debt....but I am merely speculating here.
19:45 January 1, 2010 by simepal
@hagen@weekend_warrior

If I earn X kronors monthly and the Government continues funding refugees using Y funds to sponsor its social program, why should that affect my lifestyle? Does seeting aside Y funds for refugees affect my salary X so much as to cause me to seek ALTERNATIVE sources (borrowing) to fund my lifestyle? This assessment doesnt make sense.

When people want to live above their incomes without any savings to defray the costs of their excessive tastes, then borrowing becomes the alternative resource. The lesson here is that Swedes will borrow to satisfy their wanton pleasures and for this to happen it doesnt require any Government action..what it requires is GREED , LOFTY eyes and an insatiable quest for every new electronic appliances and applications in the market.

I am against the policy towards asylum seekers that makes them consumers and not contributors to the Swedish Economy. I dont understand why policy makers with a brain will accept that Sweden trains highly qualified students, makes them professionals and then kicks them out in favor of some unproductive group for whom they provide free housing and pocket money year without end.

Maybe Hagen should be asking his law makers why they prefer such policies instead of blaming the beneficiaries of such stupid policies.
08:34 January 2, 2010 by Rick Methven
Lets put a little perspective on this "massive" amount.

64 billion kronor ($9 billion) works out to 7,100 kr per capita. the average personal (non-mortgage) debt in the UK is £3,300 per head - 38,500 kr So the level of personal debt is 5 times higher in the UK than in Sweden.

Swedes traditionally never borrowed money, they tried to live within their means and this is still basically the mentality that prevails. Credit card usage is still much lower than in countries like the UK and so individual debt is still comparatively low.

This is just another example of a bad headline Which should have been

"Swedes borrow more but less than most other European countries"
02:49 January 3, 2010 by AbdulBenHassan
Bottom line, Cut up those credit cards and pay back those loans! : )
09:38 January 3, 2010 by Oskarsmamma
People live beyond their means and take out loans to fund a lifestyle they simply cannot afford.

The "must haves" i.e. latest pc, latest flat screen, home improvements (new kitchens etc) when what they have works well and doesn't need changing. New cars, foreign holidays - the list is endless that some folks think are necessary to have, so they borrow to achieve it.

Add to this the "keeping up with the Jones" symtom and debt rises.

Do we blame those for taking the loans out or do we blame the ease with which one can take out a loan - all the loan companies bombarding people with their offers of low interest no-guarantee loans - sms messages, emails etc. Maybe if we disallow these and allow only banks to loan - with their high interest rates it would deter people maybe??

Or alternatively we could just live within our means and learn to be content with what we have instead of always searching happiness thru material goods.
Today's headlines
Interview
'The concept of race is a slippery slope': Ullenhag
Integration Minister Erik Ullenhag. Photo: Pontus Lundahl/TT

'The concept of race is a slippery slope': Ullenhag

Integration Minister Erik Ullenhag tells The Local why he plans to remove the term "race" from all Swedish law, how he responds to his critics, and why Sweden must steer clear of xenophobia. READ  

Sweden's tourism figures on the rise for 2014

Sweden's tourism figures on the rise for 2014

Tourism in Sweden is on the rise, with the first half of 2014 seeing a boom in visiting figures for both domestic and foreign tourists. READ  

Northern Dispatches
How I tackled northern Sweden's savage insects

How I tackled northern Sweden's savage insects

Ex-Londoner Paul Connolly has just survived a northern Sweden heat wave. But it wasn't the high temperatures that were the real problem, he recounts. READ  

What's On in Sweden - Pride Parade

What's On in Sweden - Pride Parade

Saturday marks the Stockholm Pride Parade, the biggest event of Pride Week (and the biggest Pride Parade in Scandinavia). Here's what to see and where to be, as well as plenty of other activities in Sweden's three biggest cities for the weekend. READ  

Railway fatalaties on the rise in Sweden
File photo: Carl Dougge/Flickr

Railway fatalaties on the rise in Sweden

Even though Sweden's Traffic Agency has drastic plans to reduce the number of people killed by trains in Sweden, a new report shows that figures are on the rise. READ  

Woman finds Ikea bags stuffed with 80 skeletons

Woman finds Ikea bags stuffed with 80 skeletons

UPDATED: A woman in southern Sweden is furious after stumbling upon scores of skulls and human bones inside Ikea bags in a church. The man who dug up the bones, however, says it's not as bad as it looks. READ  

Swedish Wikipedia jumps to second biggest

Swedish Wikipedia jumps to second biggest

There are now more Swedish Wikipedia entries than any other language in the world, besides English. And there's one Swede who's largely responsible. READ  

Assault with iron pipe 'no hate crime': police
The aftermath of the attack in Seved, Malmö on July 6th 2014. Drago Prvulovic / TT

Assault with iron pipe 'no hate crime': police

Police in southern Sweden have concluded that a man who was beaten with an iron pipe for hanging an Israeli flag in his window was not a victim of a hate crime. READ  

AstraZeneca hikes earnings outlook
Photo: Claus Gertsen/TT

AstraZeneca hikes earnings outlook

After fighting off a fierce takeover bid from Pfizer, Swedish-British drugmaker AstraZeneca raised its 2014 earnings outlook and posted rising second quarter sales on Thursday. READ  

Race to be scrapped from Swedish legislation
Integration Minister Erik Ullenhag meets children in Husby, Stockholm. Photo: Jonas Ekströmer/TT

Race to be scrapped from Swedish legislation

The Swedish government announced that it plans to remove all mentions of race from Swedish legislation, saying that race is a social construct which should not be encouraged in law. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
Stockholm demonstration against Israel
National
Stockholm Pride bars Sweden Democrats
National
Gender neutral pronoun 'hen' enters dictionary
Society
Top ten cafes in Stockholm
People-watching
Gallery
People-watching - Stockholm Pride
Blog updates

31 July

Calling a speedo a speedo (Blogweiser) »

"There are a lot of speedos on Europe’s beaches. Some European males are evidently more comfortable sporting small, stretchy suits on public beaches than I would be. I accept it may be nice to have swimwear that’s not long and cumbersome. A speedo is maybe also good for tanning. But strolling around town in a..." READ »

 

27 July

Approaching Stockholm (Around Sweden in a kayak) »

"I woke up in the comfort of my own little cabin on Eva and Rolf’s boat, it was 7:30am and I was feeling a bit groggy after a couple of beers with all the lovely locals the night before. The previous day had really taken its toll on my body and I was very stiff and..." READ »

 
 
 
Photo: Henrik Trygg/Imagebank Sweden
Society
Sweden worst in EU at getting foreigners jobs
Lifestyle
Stockholm Pride kicks off
Analysis
The top six ways the US and Sweden differ
National
Swedish youth suicides hit 25-year high
National
Politician reported for selling 'negro ball'
National
Police turn blind eye to Swedish 'slave trade'
Gallery
Stockholm Pride: Allsång på Skansen with Conchita Wurst
Skatteverket
Sponsored Article
Introducing... ID cards and permits in Stockholm
Gallery
People-watching, June 26th - 28th. Get inside Stockholm's hottest nightclubs
Gallery
Top ten Swedish taboos
Society
Seven-year-old Swede cycles to Berlin
Politics
'Gaza conflict needs help, not empty rhetoric'
Society
Swedes voted 'most beautiful' in the Nordics
Business & Money
Sweden demands EU clarity on Bitcoin tax
National
Swedish organic sales enjoy 'amazing' growth
Gallery
People-watching July 23
National
Swedish cops elect not to shoot 'angry elks'
Business & Money
New alcohol retail rules threaten micro-breweries
Gallery
People-watching Båstad
Sponsored Article
Introducing... Your finances in Stockholm
Sponsored Article
Introducing... Housing in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

721
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
If you want to drink, that’s your business.
If you want to stop, we can help.

Learn more about English-language Alcoholics Anonymous in Sweden. No dues. No fees. Confidentiality assured.
AA-EUROPE.ORG/SWEDEN
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se