Austria’s youth are increasingly falling into debt – mainly attracted by the online trap of “buy now, pay later”. According to the current report from ASB Debt Advice, Austrians under the age of 30 have an average of 33,845 euros in debt.
The level of debt increases with age: people between the ages of 31 and 50 have an average of 59,966 euros in debt. The government wants to counter this development with an information offensive. “The campaign should mainly be deployed where young people are on the move every day, namely on social media,” says State Secretary for Youth Claudia Plakolm (ÖVP).
Sustainable financial education
“Young people are the future of our country. It is our duty to give them the tools they need to safely navigate their finances. With the campaign ‘What does the account say?’ “We are taking a step towards sustainable financial education,” said Finance Minister Magnus Brunner (ÖVP).
Source: Krone
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