Financial problems persist among Dutch people
9 Sept 2024
5 min
Written by Toon Peek, Co-founder and CEO of Equip
Nearly half of all Dutch people have been worried about their financial future for years. Housing prices are sky-high, and recent inflation has only added to the pressure. On top of that, changes to the pension system can create uncertainty about finances in the later stages of life. Fortunately, there is a solution.
Moving towards a better financial future
Research conducted by Panel Inzicht in the summer of 2024 shows that more and more Dutch people are taking steps toward a better financial future. In 2024, 13% have difficulty paying their bills, a decrease from 20% last year. However, there is still work to be done: 26% of Dutch people are still unable to set money aside, and 1 in 5 feels the impact of higher interest rates when buying a home.
Young people, in particular, are facing uncertainties. They struggle more often to pay their bills and often do not know where they could save. But there is hope: 51% of Dutch people believe there are opportunities to save, and among young people, this figure is as high as 68%.
Opportunities in 2024
There is also good news in 2024: wages are rising slightly (an average of 5%, with the minimum wage increasing by 3%), and costs, such as energy prices, remain stable (electricity and gas are maintaining prices in 2024 comparable to those in 2023, a significant drop from the peak in 2022). This presents opportunities for everyone to seriously consider their financial future. Whether it's paying off debt, planning major purchases, or optimizing your financial planning—there is always room for improvement.
Financial peace of mind is not just reserved for a select group but is attainable for anyone willing to take the first step. And you don’t have to do it alone.
Employers play a critical role in the financial security of their employees. As the primary source of income, they should take the lead in offering tools and education on personal finance. Equip helps employers enhance their benefits package and empowers employees to achieve their financial goals.
Enter: Equip
We provide personal financial advice and guidance, so you can confidently take the next step toward a secure future. Equip is a leading solution with a platform designed to meet the diverse financial needs of today’s workforce. By focusing on preventive strategies with personal financial planners, educational content, and user-friendly technology, Equip stands out as a partner in financial health.
Contact us today to discuss how we can enhance the support your organization offers to employees at every stage of their careers.