Why do Moldovans take loans? Explanations given by a personal finance trainer

Data from the National Bank show that in 2021, lending to individuals exploded, which means that more and more Moldovans have resorted to credit. The rise in inflation does not stop Moldovans from accessing credit either. During the show “10 LEI”, the personal finance trainer Daniela Secinschii presented the most important reasons that make people apply for a loan.

The guest of the 10 LEI show explains this phenomenon. There is an excessive promotion of credit companies, especially on social networks. Also, if people do not have other sources of loan such as family or friends, they have to access a loan to meet their personal needs and desires.

“The pandemic affected us, some lost their jobs, but the expenses continue to rise. We have to take money from somewhere, if he has nowhere to borrow, if he has no one to help him, he turns to a bank loan. There is another important factor. You have probably noticed that credit promotions are very active. We often come across TV commercials about lending companies. The promotion is also intense on social networks. These offers are very tempting, I would say, pressing on our needs, desires or problems “.

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