According to a study focusing on US Generation X and Generation Y's financial situation, credit card debt ranks highest in terms of types of debt among these two categories of adult internet users.
Thus, 67 percent of Generation X internet users (those born between 1965 and 1981) have declared that they are confronted with this type of debt, while 52 percent deal with car loans, 49 percent with mortgage and 30 percent with student loans. As for those born between 1978 and 1995 (Generation Y internet users), 57 percent are concerned with credit card debt, 42 percent with car loans, 17 percent with mortgage and 32 percent with student loans. The study was conducted by the American Savings Education Council together with the US non-governmental organisation AARP.
The Paypers is the leading news source for the payments industry. We keep busy payments professionals across the globe up-to-date. Our comprehensive news service covers topics such as online and mobile payments, and much more. We offer many different options allowing you easy access to our daily news coverage, such as emailed headlines, general or specific news feeds, website access, journal subscriptions, or customised solutions.
Please fill in the form below if you would like to receive the free The Paypers Headlines directly to your inbox. We will e-mail you the latest headlines daily or weekly.