20 April 2007
The so-called "Friends generation" of young 30-something Britons are the most likely age group to have taken out a personal loan, as well as being the most likely group to default on repayments.
Other figures from the research carried out by Alliance & Leicester for its recent Borrowing Monitor report showed that this group were also likely to have the biggest mortgages when compared to their incomes.
Credit cards were also seen to be popular for the younger age group with the Friends generation - whose title is inspired by the lives of the characters in the hit US sitcom Friends - more likely to only pay the minimum repayment amount on their plastic each month.
Chris Rhodes, Director of Retail Banking at Alliance & Leicester, commented that it wasn't entirely unexpected to find that 30-somethings have the highest levels of unsecured debt since this was the time of life where most were likely to be setting up home and trying to settle down into family life.
"The early 30s are a transitional age where careers are taking off and before family responsibilities kick in.," he explained.
"Many are buying their first homes at this point, but are also enjoying rapidly rising salaries and are keen to enjoy life to the full."
Student loans were also beginning to take their toll on younger members of society, with Mr Rhodes stating that "a hangover of student debt" is restricting many of them from splurging on further borrowing, as well as causing them to delay on getting on the housing ladder.
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