You’ve probably noticed the Dutch have a very particular relationship with money. They’re famously frugal, championing the art of bill-splitting down to the last cent and steering clear of anything that smells like debt.
So, it might raise a few eyebrows to hear that young Dutchies are now borrowing significantly more than before.
According to fresh findings from Independer, young people in the Netherlands aged 18 to 24 are borrowing an average of €1,225 more than last year — just to keep their financial heads above water.
The worrying stats
The numbers don’t lie — and they’re not pretty. A whopping 38% of people aged 18 to 29 say they’ve faced money troubles in the past six months. Compare that to only 18% of 30 to 59-year-olds, and you’ve got a generational finance gap.
“Young people are dealing with higher costs for daily expenses,” explains Marga Lankreijer-Kos, a money lending expert at Independer.
“Their housing costs are higher, for example, and they have less money left to spend freely. But we also see that young people aren’t just borrowing for necessary expenses.”
In other words: it’s not all rent and groceries — there’s also a cultural shift underway.
“It’s becoming increasingly possible to pay bills later. Nowadays, you can even pay for your Lowlands festival tickets with Klarna. This lowers the threshold for borrowing, but even if it comes later, the bill still comes.”
The buy-now-pay-later trap
This whole “delay now, panic later” trend is a far cry from the classic Dutch money mindset.
Services like Klarna have made deferring payments ridiculously easy, but they’ve also helped normalise a more relaxed attitude towards debt — something many Dutch parents would likely side-eye.
Sure, there are user-friendly platforms that let you compare different lending products, but financial experts are singing the same tune: only borrow what you can realistically repay.
READ MORE | Dutch Quirk #18: Refuse to go into debt
Even though young people are borrowing more than last year, their loan amounts are still lower than those of the middle-aged crowd.
“That’s somewhat reassuring,” says Lankreijer-Kos. “Additionally, we’re talking about loan applications. Not all of these are approved by financial institutions.”
Debt-averse Dutch culture meets financial reality
Traditionally, the Dutch prefer saving up over splashing out with borrowed cash — and that’s shaped everything from their suspiciously low credit card use to their love of pinnen.
There are plenty of reasons why debt isn’t really a Dutch thing: cultural values around thriftiness, practical banking systems, and a general allergic reaction to owing anyone anything.
But those old-school habits are now running head-first into modern economic pressures.
According to Independer, around 30% of loan applications are just to help people cover basic needs — like overdue bills or surprise expenses.
The average amount borrowed for this? A cool €11,956 in just the first four months of this year.
What does this mean for the future?
This spike in borrowing among young people signals a pretty big cultural shift.
Older generations built their financial worldview during times of stability and affordable rent. Young people today? They’re navigating a whole new storm of housing woes, inflation, and shifting work norms.
What’s really eye-catching is how this borrowing surge coincides with digital tools that make debt feel less “real”. When you can push payments to next month with one click, it’s easy to forget it’s still money you owe.
The combo of economic strain and ultra-convenient credit is chipping away at the traditionally debt-averse Dutch mindset.
Even in a country known for its sensible saving habits, shifting financial conditions are reshaping the way people think about money.
For young people in the Netherlands, borrowing money is less about fancy gadgets — and more about scraping by.
Have you ever borrowed money in the Netherlands? Was it for rent, groceries, or maybe that spontaneous holiday to Spain? Share your story in the comments — no judgement here!
