Kort vei - til lykke eller ruin?
MetadataShow full item record
- NIBR notat 
In 1995 and 1997 NOVA carried out two surveys of Norwegiansö‚' payment practices. The first survey showed that householdsö‚' ability to pay had little bearing on their handling of bills. The second showed, in addition, that peopleö‚'s payment habits largely reflected personal morality. Poor willingness to pay was a more important reason for late payment than poor ability to pay.Debt and interest repayments represent large, important bills for the majority of households. Household debt almost doubled between 1997 and 2004. While home loans remain the dominant item, a clear-cut increase is evident in the volume of consumer loans, salary account overdrafts and credit card loans. This increase is primarily due to a greater number of customers, and not to higher borrowing by each individual customer.More and more people are paying one or more of their bills after the due date. In 1997 this applied to 47 per cent in the age range 20 to 60, whereas in 2004 late payments were made by 60 per cent in the same age range. In most cases the delays are few and of brief duration, although the proportion receiving notice of debt recovery rose from 9 to 20 per cent. The proportion receiving debt recovery warnings also doubled, from 4 to 8 per cent.At both points in time most late payers were people in their twenties, and late payment has become increasingly common in this age group. An increase is also evident among people in their fifties, but not nearly as marked as among the youngest late payers. The difference between the oldest and youngest has consequently widened. The period we studied gave no indication that peopleö‚'s payment practices improve as they grow older.Late payment is also a direct consequence of personal morality which in turn is largely determined by age. While the effect of age is reduced in a multivariate analysis, people between 50 and 60 are significantly better payers than younger people regardless of morality and financial situation. A poor grasp of oneö‚'s finances also increases the likelihood of late payment. Where more objective factors are concerned, having money in the bank naturally enough has a positive effect, while debt size and household income are on the other hand without significance. Borrowers who have spread their debt on a variety of loan types are more likely to be late payers than the unindebted or borrowers holding one type of loan. Most late payers are to be found among tenants, not among those who have invested in a dwelling and become home-owners.About one in five late payers state that late payment was due to lack of funds on one or more occasions. A variety of variables determine the odds of falling into either of these groups of late payers. The odds in favour of paying late and concurrently citing lack of funds heavily depend on financial resources such as income and capital. Poor financial order and overview also increase the odds of falling into this group, as does spreading debt across a large number of loan types.Faced with various types of bills, the population only gives priority to home loan, rental and electricity bills when in a situation of being unable to pay all bills. Telephone bills, local authority service charges and credit card debt are the types of bill whose payment most people would postpone.In addition to the fact of having money in the bank which reduces the odds of late payment in the case of all types of bills, increased deposit size reduces the odds of various types of bill being paid late. The odds of late payment of interest and instalments on loans clearly rise in step with the number of loan types across which the debt is spread. Having a poor overview of oneö‚'s personal finances also increases these odds. Electricity bills are a further type of bill where a higher number of loans raises the odds of late payment, the same being true in the case of poor morality and being in the age range 30 to 50. A higher number of loans also increases the odds of late payment of both fixed-line telephone and mobile telephone bills. The youngest age categories are often late in paying mobile telephone bills; concurrently late payment of this type of bill is more often a result of poor personal morality than in the case of late payment of fixed-line telephone bills. Insurance premiums are the type of bill where late payment is least determined by the other characteristics surveyed. However, in addition to being determined by size of bank deposit, the odds of late payment of insurance premiums increase as a result of poor morality. Home owners are more likely to pay such premiums at the due time than are tenants.While household debt has risen strongly relative to household income, a marked fall in interest rates has kept down interest expensesö‚' share of household income. Even if interest rates doubled overnight, only a relatively small proportion of households would face an excessively high interest burden. While most of these households are among those with relatively low earnings, they also include a substantial element of younger single persons in the early stages of career who expect rising income both personally and on the part of a coming partner or spouse.Stadig flere nordmenn betaler sine regninger senere enn forfallsdato. De som betaler for sent, er en sammensatt gruppe. Noen sliter virkelig økonomisk, men for det store flertall er manglende betalingsvilje og dårlig betalingsmoral avgjørende. I økende grad overtar banker og finansieringsselskap risikoen ved kredittkjøp gjennom utstedelse av kredittkort og innvilgning av forbrukslån. For flertallet av forbrukerne gir dette en mer fleksibel hverdag. For de som fra før sliter økonomisk, kan tilgang til slik kreditt øke problemene ytterligere.I denne rapporten sammenliknes nordmenns betalingspraksis høsten 2004 med resultater fra en tilsvarende undersøkelse høsten 1997. Undersøkelsen er gjennomført som oppdrag for GE Money Bank.