Singles particularly often overspending
Disease, Addiction or an Accident: Reasons for getting into debt are numerous. Single people are particularly affected - on average, they owe their creditors nearly 30,000 Euro. However, there are differences between genders.
Single people have been particularly affected by over-indebtedness in the past year. According to the Statistical Office in Wiesbaden, 51% of those who sought debt counseling were living alone. Their average debt was 29,738 Euro, while the average total debt of all was 31,749 Euro.
Statistics also showed differences between genders: Men were more and more heavily in debt than women. According to the data, 61% of the over-indebted single households were men, with an average debt burden of 31,792 Euro, while 39% were women with an average debt of 26,464 Euro.
The most common causes of over-indebtedness in single households in the past year were illness, addiction, or an accident. This affected 24% of the single households - for all those counseled, it was 18%. Approximately the same percentage was due to the loss of employment (19% of single households and 18% of all over-indebted persons).
People who sought debt counseling most often had debts with other public creditors, such as statutory pension and health insurance schemes and job centers. In second place were telecommunications companies, followed by self-employed individuals and the mail order trade.
Private debts in single households, particularly those seeking debt counseling, often stem from various reasons such as illness, addiction, or an accident, as revealed by the Federal Statistical Office. Notably, men in these single households carry a higher average debt burden compared to women, indicating potential gender-related economic disparities in the economy.
