People in their 30’s most likely to be in debt
According to recent studies, the most indebted age group amongst UK consumers are in their thirty’s.
A leading UK bank reports that the lower end of the youth demographic (18-29) are less dependent on credit, but find it more difficult to attain a mortgage. It is claimed that people within there 30’s have above average borrowings (around 10k), and are most likely to default on payments.
This particular segment of UK borrowers commits more to repaying interest than any other part of our nations debtors, although it is widely accepted that the bulk of debt is focused towards setting up new homes.
Traditionally, the 30’s demographic is when people begin to settle down, focus on their careers and consider raising a family. The fact that many are most in debt during this period is commonplace and accurately reflects our nations heritage.
