Loans under pressure: what Ukrainians borrow money for most often
23 April 2025 21:00
Ukrainians take outmore than 50% of loans for medical needs – services and medicines. This was stated by financial expert Maryna Abramovych, "Komersant Ukrainian" reports.
As a rule, we are talking about amounts in the range of 100-200 thousand hryvnias – debts on credit cards, consumer loans, and high-interest loans.
The second place goes to purchases of household appliances and digital devices. According to Abramovych, almost 30% of credit funds are used for these purposes.
“Although a new washing machine or smartphone may be objectively necessary, the decision to buy them is often an irrational response to social pressure: my neighbor has a new phone, and I need one,” the expert explained.
Another 20-25% of Ukrainians take out loans to “survive” until the end of the month. This is an alarming signal. It’s not just a lack of money, but also deeper problems such as low wages, inability to manage the budget, and lack of stable sources of income. In such conditions, consumer lending becomes a forced way of survival, not planning.
But there is another side to it. Sometimes people take out loans not because of need, but because of financial illiteracy. According to Abramovych, she regularly encounters cases where loans are taken out to celebrate birthdays, anniversaries, and even weddings. People often borrow money for branded items, travel, or fancy gadgets – things they could do without. In such cases, it’s not a matter of financial hardship, but a lack of priorities and critical thinking.
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