Our Generation Has More Debt Than Any Other

Our Generation Has More Debt Than Any Other
Business
Like Us On Facebook
Like Us On Facebook

Generation-Y has a lot of advantages that other generations have not had, but, as with everything, there are two sides to everything. It seems as if Generation-Y also has some disadvantages, like having more debt than any previous generation did.

A new study conducted by the Ohio State University has concluded that our generation has more debt than any other, and that we pay it off more slowly.

The data showed that those born 1980 to 1984 had (on average) over $5,000 more in credit card debt than their parents did at a similar point in their lives and slightly more than $8,000 more when compared to their grandparents.

Ally | Elite.

Photo Credit: Getty Images

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Ally Batista

Ally is a preppy tomboy who loves all things football and fashion. She's a housewife in training and is known as the highly opinionated, and sometimes rude, first woman of Elite Daily. Be prepared to always be caught off guard.

More In Business

Women Katie Gonzalez

Women May Be Hired As Executives To Clean Up Messes, But They Also Make Companies More Profitable

When Hillary Clinton decided to discontinue her campaign for presidency in 2008, she mentioned that, due to the work of her supporters in their attempts to elect our country’s first female president, the now-famous metaphorical glass ceiling ”had about 18 million cracks in it.” Since then, the glass ceiling has become an important symbol for ambitious […]

Also On Elite

Women

Gap Reveals That Its Male And Female Employees Make Exactly The Same Wages

Clothing retailer Gap has disclosed that it ensures gender pay equality for all of its employees. On Tuesday, the brand tweeted an image indicating that it was founded on an equal investment by both a man and a woman. Today, it still pays men and women exactly the same amount. Don and Doris invested equally […]