Back-to-school costs push Spanish families toward higher-interest financing options
Spanish households are feeling pressure from back-to-school spending and are increasingly using credit products to meet the expenses.
In Spain, the start of September signals a return to work and school, a period many treat like a fresh fiscal year. Household finances are strained by school-related purchases that can run from five hundred to eight hundred euros per child, plus additional expenses from the summer months. Rising living costs further reduce the money families have available.
As a result, an increasing number of households are seeking financing through rapid micro-credits, revolving credit cards, consumer loans from traditional banks or online lenders, and store-based payment plans. While these solutions provide immediate cash, they typically increase the overall cost because of high interest. Financial advisers stress that anticipating expenses and planning budgets in advance is the best strategy to prevent debt during the back-to-school period.
