UK Money News
17th January 2007
Young people 'pressurised by debt'
Many young people feel that they are in significant debt and rely on a variety of sources of credit to get through the month, it has been claimed.
According to new data from property firm Gumtree, 72 per cent of those aged between 18 and 30 said that they were in debt.
Around 35 per cent have credit card debts and 31 per cent rely on their overdrafts to get them through the month.
Meanwhile, 24 per cent are still paying off their student loan, the figures suggest.
Damian Barr, author of Get It Together: A Guide to Surviving Your Quarter-Life Crisis, told Channel 4 News: "Today's 20-somethings face serious financial pressures such as student debt, high career expectations and a property market that's out of their reach."
However, Birmingham Midshires has recently released data stating that increasing numbers of young people are starting to save, potentially providing help with money for the future.
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