Overindebtedness among Young Adults in Sweden: A qualitative study on young adults’ perceptions on the desire to consume and consequences of overindebtedness
(2020) SOLM02 20201Department of Sociology of Law
- Abstract
- Debts among individuals and households in Sweden have increased over the years. Although statistics from the Swedish Enforcement Authority show that the total number of people registered with excessive debts has declined for the third year in a row, the total amount of debt of those individuals and households who are already overindebted on other hand continues to
increase. Moreover, debtors registered at the enforcement authority do not necessarily depict an overall state of overindebtedness in society as it excludes other categories of overindebted individuals.
Overindebtedness is a growing problem and a complex multi-dimensional phenomenon. Various groups of individuals are affected by overindebtedness differently as some groups are... (More) - Debts among individuals and households in Sweden have increased over the years. Although statistics from the Swedish Enforcement Authority show that the total number of people registered with excessive debts has declined for the third year in a row, the total amount of debt of those individuals and households who are already overindebted on other hand continues to
increase. Moreover, debtors registered at the enforcement authority do not necessarily depict an overall state of overindebtedness in society as it excludes other categories of overindebted individuals.
Overindebtedness is a growing problem and a complex multi-dimensional phenomenon. Various groups of individuals are affected by overindebtedness differently as some groups are considered to be more vulnerable than others. Young adults are considered as one of the vulnerable groups of
overindebted individuals. The purpose of this study is to illustrate the problem of overindebtedness among young adults in Sweden and further explore the perceptions, experiences and understandings of young adults concerning consumption and overindebtedness. This is explored through six semi structured interviews conducted. The data is analysed using the
theoretical perspective of legal consciousness to explore young adults understanding of social and legal consequences of overindebtedness.
Findings in this study show that young adults perceptions on consumption and debts often begin earlier in life and are influenced by family consumption behaviours and understandings of debts. Other social relations also influence young adults perceptions on consumption and debt. Social
media is yet another aspect within digitalisation that influences the perceptions and the desires of consumption among young adults as they tend to spend more time on social media compared to other age groups. Moreover, findings also show that young adults often use after pay services
such as Klarna “Buy now, Pay later” when making purchases and often misjudge their ability to pay back and are as well more susceptible to use these after pay services. Findings further illustrate that perceptions of debts and consumption is considered more positive if it meets the
requirement of a necessity rather than desire, however the distinction between necessity and desire among young adults is rather ambiguous. Consequences of overindebtedness, excessive debts, default and late payment explored through the theoretical perspective of legal
consciousness in this study show that these consequences are perceived and understood more in relation to social norms rather than legal norms among young adults. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9013626
- author
- Longe, Aloba Susan Oluwaseun LU
- supervisor
- organization
- course
- SOLM02 20201
- year
- 2020
- type
- H2 - Master's Degree (Two Years)
- subject
- keywords
- young adult, overindebtedness, overconsumption, loans, credits, Swedish Enforcement Authority, legal consciousness
- language
- English
- id
- 9013626
- date added to LUP
- 2020-06-17 09:50:44
- date last changed
- 2020-06-17 09:50:44
@misc{9013626,
abstract = {{Debts among individuals and households in Sweden have increased over the years. Although statistics from the Swedish Enforcement Authority show that the total number of people registered with excessive debts has declined for the third year in a row, the total amount of debt of those individuals and households who are already overindebted on other hand continues to
increase. Moreover, debtors registered at the enforcement authority do not necessarily depict an overall state of overindebtedness in society as it excludes other categories of overindebted individuals.
Overindebtedness is a growing problem and a complex multi-dimensional phenomenon. Various groups of individuals are affected by overindebtedness differently as some groups are considered to be more vulnerable than others. Young adults are considered as one of the vulnerable groups of
overindebted individuals. The purpose of this study is to illustrate the problem of overindebtedness among young adults in Sweden and further explore the perceptions, experiences and understandings of young adults concerning consumption and overindebtedness. This is explored through six semi structured interviews conducted. The data is analysed using the
theoretical perspective of legal consciousness to explore young adults understanding of social and legal consequences of overindebtedness.
Findings in this study show that young adults perceptions on consumption and debts often begin earlier in life and are influenced by family consumption behaviours and understandings of debts. Other social relations also influence young adults perceptions on consumption and debt. Social
media is yet another aspect within digitalisation that influences the perceptions and the desires of consumption among young adults as they tend to spend more time on social media compared to other age groups. Moreover, findings also show that young adults often use after pay services
such as Klarna “Buy now, Pay later” when making purchases and often misjudge their ability to pay back and are as well more susceptible to use these after pay services. Findings further illustrate that perceptions of debts and consumption is considered more positive if it meets the
requirement of a necessity rather than desire, however the distinction between necessity and desire among young adults is rather ambiguous. Consequences of overindebtedness, excessive debts, default and late payment explored through the theoretical perspective of legal
consciousness in this study show that these consequences are perceived and understood more in relation to social norms rather than legal norms among young adults.}},
author = {{Longe, Aloba Susan Oluwaseun}},
language = {{eng}},
note = {{Student Paper}},
title = {{Overindebtedness among Young Adults in Sweden: A qualitative study on young adults’ perceptions on the desire to consume and consequences of overindebtedness}},
year = {{2020}},
}