The cost of living and household indebtedness are increasing. Increases the risk of corrosion

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At the end of 2023, each Italian citizen, including newborns, owed an average of about 9,949 euros, while each resident family carried debts to banks and financial companies on average of 22,674 euros. This data comes from Asutenti, who warned in his report against excessive indebtedness and usury.

Savings are affected

Italians have reacted to high inflation in the past two years and rapid growth Mortgage interest rates In terms of the impact on saving, as the tendency to save decreased by -3.6% according to Istat in the first six months of 2023 compared to the same period in 2022, and also by resorting to loans and microfinance to cover daily expenses.

At the end of 2023 consumer credit record: 160 billion

At the end of 2023 – according to Astuente estimates – the value of consumer credit will reach a record level of 160 billion euros in Italy, with a growth of +220% compared to 20 years ago, taking into account that at the end of 2002 the size of Italy’s debt was the purchase of goods. And services are less than 50 billion euros. stock Mortgages that have been withdrawn As for families, it today amounts to 425 billion euros: 162 billion euros is the value of individuals alone. Mortgages at a variable rate.

The average debt is more than 22 thousand euros per family

Loans, mortgages and financing that weigh A total of 585 billion eurosequals one Average debtTaking into account that the Italian population is 22,674 euros per household, that is approximately 10 thousand euros per resident citizen. Only in the biennium 2022/2023 was the rise in retail prices (average inflation +8.1% for 2022, +5.7% for 2023) generally, and for the same number of purchases, a significant rise of 4,185 euros per household year in additional expenditure on goods. And Services – Assoutenti Analytics.

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A €150,000 variable rate mortgage costs €4,400 more per year than in 2021.

Added to all this is drama interest rates: Continuous increases imposed by it European Central Bank In the last two years, this has resulted in a €150,000 variable rate mortgage for 25 years costing today +€4,380 per year compared to what was paid in 2021, with the monthly repayment on average rising by +€365. The monthly payment for a €125,000 mortgage (permanent 25 years) rises by +€270 in 2021, with a higher annual cost of +€3,240.