00:00As the cost of living crisis eases, more Europeans are finding it easier to pay their bills on time.
00:07A quarter still struggle, however, a recent report has found.
00:12This trend is reflected in the latest European consumer payment report
00:16produced by Swedish credit and collection company, Intrum.
00:21In 2023, 37% of Europeans failed to pay their bills on time,
00:26while today the figure sits at an improved, but still relatively high 24%.
00:31Meanwhile, the divide between countries and social groups has continued to widen.
00:37Spain and Austria topped the chart, reflecting only 17% of people who were unable to pay their debts in the expected time frame.
00:46Slovakia, Belgium and Norway trailed shortly behind, reporting figures ranging from 19% to 20%.
00:53Greece, which has been dealing with years of economic hardship,
00:57came in last, with around 33% of citizens struggling to pay their debts on time.
01:0343% of consumers in Europe said that recent years have had a lasting negative impact on their financial well-being,
01:10with younger generations often being the most affected.
01:13Over 60% of Generation Z reported that missing a bill's due date was a regular occurrence this year.
01:20The main reason continues to be a lack of funds,
01:24continuing a similar trend of previous years as the main reason for defaulting.
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