the american reality: how debt defines your generation

The American

Reality: How

Debt Defines

Your

Generation

of Americans

believe living

debt free is living

the DREAM

63%

but…A majority of Americans

live with some type of debt or

loans

But how they live with and

manage debt varies by age group

Adults over the age

of 45 are more likely

to pay more than the

minimum monthly

payment on their

credit cards than

those between the

ages of 18 and 44.

In fact, young adults age

18-34 are more likely than

adults 55+ to

than the minimum monthly

payment on their credit

card debt

PAY L E S S

…. and those 18-34 are almost three

times as likely to admit to sometimes

paying their bills late.

Despite these habits, adults 55+ (16%) are more

likely to buy ,

since they have credit cards.

what does each age group consider to be a

FINANCIAL DISASTER?

Foreclosing

on a home?

While more than three quarters of

Americans (76%) believe this

would be a financial

disaster, it’s a more common

concern for those over 55 years old.

How about YOUR health?

of

Americans say

getting into

medical-related

debt would be a

FINANCIAL

NIGHTMARE

A number slightly higher for adults 55 and over

(55%)

Did I remember

to pay that bill?

of Americans consider

having a LATE PAYMENT

on a loan to be a financial

disaster

Although Americans age 45-54 (18%)

are less likely to consider a late payment

on a loan to be disastrous

27%

23% of Americans say not paying off a credit card balance

in full each month would be a

that number with

disaster,increases

age 33% for folks 65 and older

and that

What’s YOUR

American Dream?

And how will you

manage your

finances to get

there?