The problem of debt and insolvency among citizens is increasing in Poland. According to data from September 2024, nearly 2.6 million Poles are behind with payments, and the full amount of these commitments reached the evidence level of PLN 86.5 billion. deficiency of financial awareness and inability to manage the household budget are the main causes of this situation.
Insufficient financial education
Despite the declaration of savings, many Poles do not have basic economical knowledge. investigation shows that gaps in school education make nearly 60% of respondents gain economical cognition from blogs and web portals. The deficiency of formal education in this area results in the inability to manage efficiently.
Year of economical Education 2024
In order to counter the financial problems of the society, the Polish legislature established the year 2024 as an economical education year. This initiative aims to rise the economical awareness of citizens through various educational programmes, specified as "Finance Lessons" aimed at primary school pupils. These activities aim to educate home budget management skills from an early age.
National Financial Education Strategy
The Council of Ministers adopted the National Financial Education Strategy, which sets out the framework for financial education activities for the period 2024-2030. This paper includes, inter alia, the introduction of educational programmes aimed at expanding the financial competence of the public and promoting liable attitudes towards financial management.
Rising savings and debt
Although the value of bank deposits of Poles at the end of November 2024 amounted to PLN 1.3 trillion, which means an increase of PLN 100 billion per year, the debt problem remains serious. The increase in savings does not go hand in hand with debt reduction, indicating an uneven distribution of financial resources in society.
In 2024, there was a crucial increase in consumer bankruptcy. Although this mechanics allows many people to put their financial situation in order and start their lives again, the expanding number of bankruptcies shows the worsening financial problems of Poles
Lack of moral awareness in debt repayment
Research shows that for 91% of Poles it is always a moral work to pay debts. However, among young people and those with financial problems, this percent is lower, which may indicate a deficiency of sense of work for their commitments.
Needing professional support
Experts urge that those struggling with financial problems benefit from professional advice. Unfortunately, only a tiny percent of Poles decide to consult financial advisors, which can lead to deeper problems and falling into debt spirals.
The deficiency of adequate financial education and the inability to manage the home budget are the main causes of the financial problems of Poles. Initiatives specified as the Year of economical Education 2024 and the National Financial Education strategy aim to improve this situation. However, in order to accomplish the objectives, it is essential to affect both public institutions and citizens themselves in the process of raising financial competence.
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Poles in a financial trap: deficiency of cognition and support aggravates problems
