With inflation on the rise and living costs soaring, more young people are descending into debt. In a recent nationwide survey done by financial services company Dun & Bradstreet, the increasing range of debt receipts alarmingly fell around the 18-34 age
The survey found that more than one in five Australians expect to use their credit card to finance purchases they otherwise couldn’t afford. Livings costs are sky rocketing and as a result, young people are struggling to meet the financial demands. House hold debts have increased by 30% since Oct 2007, a mere six months ago. Credit card debt affects not only the middle age demographics but also the younger market, combining to make the nation’s current credit card bill, which stands at a staggering $42.340
