Der besorgniserregende und zunehmende Trend, dass die Verschuldung der privaten Haushalte in der erwerbstätigen Generation Japans ansteigt – 60 % der Haushalte Ende 30 sind jetzt verschuldet, obwohl die Zahl der Eigenheimbesitzer geringer ist

Parents often chipped in to buy land or help with building a new house or apartment.

The savings accumulated by the older middle class generations who had a much lower cost of living are running out, and the next generation is being squeezed from all sides and can’t save money.

Same thing has been happening all over the world, Japan is finally starting to catch up.

It’s not just money. It’s also unused goods accumulated by the middle class during the Showa era that are getting pillaged by parasites like Hiromi and his chain of 買取 stores. They send out staff to villages full of old people and offer low prices for gold, jewelry, brand goods and other highly sought after items. The old people are lonely, tech illiterate, and don’t know how to look up the real value. They think they’re getting a good deal when they’re actually getting robbed blind.

So even material generational wealth like that which is normally held on to then handed down to kids/grand kids is getting scooped up. The younger generations don’t stand a chance.

Inflation, low wage growth and high education costs, so that should not be a surprise. Though some forms of debts are more manageable than others. Japanese student loans for example have low interest rates. The problem loans are more the Japanese consumer credit payday lenders like ACOM, SMBC Consumer Finance (Promise) or AIFUL.

Paypay has been actively encouraging me to take up their revolving payment program recently. What’s the status of financial education in Japan?