Latvians Explained Why They Take Consumer Loans 0 18

In response to the question about their attitude towards consumer loans, the majority, or 38 percent of residents, indicate that it is a suitable solution for unforeseen or emergency situations. Another 30 percent characterize it as an 'unpleasant but sometimes necessary choice,' while one in five points to the additional financial burden.

At the same time, 16 percent believe that a consumer loan allows for quicker acquisition of goods or services without building up savings. Among the Baltic countries, this advantage is particularly highlighted by residents of Lithuania, where one in five points to it.

In Latvia, residents more often than in other Baltic countries view consumer loans as a tool for addressing emergencies. In Estonia, 31 percent of residents agree with this, while in Lithuania, it is 29 percent. In the other Baltic countries, the prevailing opinion is that consumer loans are an unpleasant but sometimes necessary choice: 35 percent of residents in Estonia and 33 percent in Lithuania agree with this.