Consumer Loans in Spain Reach 20-Year High Before Summer Holidays
Listen to the story
More people in Spain are taking loans to pay for holidays.
A loan is money that a bank gives you. You must pay it back later.
These loans are called consumer loans. People use them to buy things, not houses.
Now, consumer loans in Spain are at the highest point in 20 years.
This happens before the summer holidays. Many Spanish people want to travel.
But holidays cost a lot of money. So, people borrow money from banks.
This is called debt. Debt means money that you owe.
More Spanish people have debt now because of holiday costs.
Banks say this is the biggest number of loans in two decades.
Experts are watching this trend. They want to know why it happens.
Maybe people want nice holidays but do not have enough money.
So, they use loans instead of saving money first.
Vocabulary8 words
- loan
- money a bank gives you that you pay back later
- consumer loan
- a loan you use to buy things, like a trip
- debt
- money that you owe to someone
- bank
- a place where people keep and borrow money
- borrow
- to take money and pay it back later
- trend
- something that happens more and more
- decade
- a period of ten years
- save
- to keep money instead of spending it
Quiz
Answer key
1. Consumer loans 2. To pay for holidays 3. False
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
More people in Spain are taking _____ to pay for holidays.
A loan is money that a _____ gives you.
These loans are called consumer _____.
Now, consumer loans in Spain are at the highest point in _____ years.
This happens before the summer _____.
But holidays cost a lot of _____.
So, people _____ money from banks.
This is called _____.
More Spanish people have debt now because of holiday _____.
Banks say this is the biggest _____ of loans in two decades.