Talking about money remains a taboo
Financial knowledge is important for Dutch people: 90% find it essential to have an understanding of financial matters. Yet, the topic often remains unspoken: half (50%) do not openly discuss their financial situation with friends or family. Especially young adults break this pattern: 53% of Dutch people under 35 talk openly with friends or family about their finances.
To learn to manage money better, Dutch people take various measures: 17% rely on AI for financial questions and decisions. 22% seek information from their bank, 16% use financial budgeting apps, and 15% read financial blogs. Nevertheless, 44% of Dutch people take no action to increase their financial knowledge.
Also read: Financial behavior in the Netherlands: figures from last year
Gen Z versus Baby Boomers: 'Buy Now Pay Later'
Financial security is closely linked to spending patterns and payment behavior. A striking trend is the use of 'Buy Now Pay Later' (BNPL), especially for clothing purchases (23%). However, more than half of Dutch people (55%) indicate that they do not use BNPL. This is particularly true for older generations: 63% of 46-60 year-olds and 77% of those aged 61 and older.
The rise of 'BNPL options, both online and in physical stores, raises concerns about financial stability. 78% of Dutch people fear that BNPL increases the risk of people living beyond their means. Especially those aged 61 and older are worried: 86% of those over 61 share this fear. Additionally, 80% of Dutch people believe that banks and retailers are responsible for informing about the risks of BNPL. The same number of people are concerned about the vulnerability of young people and the increased risk of debt in this group.
Also read: 5 tips to convince an investor
Task for education
The research also shows that there is a gap between financial knowledge and the feeling of security among consumers. 42% of Dutch people feel that education has not adequately prepared them for managing money. Especially those aged 61 and older (84%) claim to have knowledge of finances, but there is a strong desire for more practical knowledge and guidance among young people (18-25 years).
'In the past, children learned their financial habits mainly from their parents. Today, digital tools and AI provide additional guidance, allowing young consumers to manage their money more wisely. At the same time, the world is changing rapidly, and consumers are faced with an increasing number of payment options, subscriptions, and digital services. This makes financial choices more complex, and financial awareness is more important than ever. That is why there is an important task for older generations and education to pass on knowledge and experience. Together, we must work towards a new way of being conscious about money,' says Jos van de Kerkhof, Country Manager at Visa Netherlands.
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