One in five young people in financial trouble

According to a report from research center Nibud, many young people aged 18 to 24 already have outstanding tax payments, and are unable to pay their health insurance or phone provider bills, RTL Nieuws reports. The research from the National Institute for Budget Information (NIBUD) reveals that almost 20 percent of these young people in debt owe €2500 or more to the Tax Administration Service. "They are only just financially responsible for themselves and don't have their financial business in order yet. It's worrisome that they put themselves in debt at such a young age", a spokesperson for Nibud tells RTL Nieuws. The researchers, who surveyed young people aged between 12 and 24 years of age, do say that they are "positively surprised" about the important role parents keep playing if their children are growing into adulthood. Of the surveyed young people over 18, 63 percent say that they speak to their parents at least once a month about financial affairs. "They can use that influence to help their child to finally stand on their own two feet, financially speaking."