According to one of the leading debt counseling charities, debt problems at a young age, such as the debt incurred by University fees, are becoming increasingly likely to inhibit the younger generations of Britons to be able to purchase their own homes, as well as other assets like their parents and grandparents were able to do at the same respective age.
The report by the Consumer Counselling Credit Service has predicted a less than bright future a large percentage of those under the age of forty as real incomes decline, debts continue to increase and saving for retirement turns into more of a dream than a reality.
However, while the research for the charity showed that debt levels tend to peak when people are aged around 35-45years old, they found that over 1m households in the UK where those inhabiting the property are aged between 18 and 39 are already struggling financially. This research then indicates that another 893,000 are at risk of struggling with financial issues..
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The report by the Consumer Counselling Credit Service has predicted a less than bright future a large percentage of those under the age of forty as real incomes decline, debts continue to increase and saving for retirement turns into more of a dream than a reality.
However, while the research for the charity showed that debt levels tend to peak when people are aged around 35-45years old, they found that over 1m households in the UK where those inhabiting the property are aged between 18 and 39 are already struggling financially. This research then indicates that another 893,000 are at risk of struggling with financial issues..
need conveyancing? compare conveyancing with us!! www.helpfulconveyancing.co.uk
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