Our Generation Has More Debt Than Any Other

Our Generation Has More Debt Than Any Other
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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

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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.

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