Post on 21-Apr-2017
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 LESS
Despite these habits, adults 55+ (16%) are more likely to buy what they want, when they want, since they have credit cards.
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.
of Americans say
getting into medical-related debt would be a
FINANCIAL NIGHTMARE
A number slightly higher for adults 55 and over (55%)
47 %
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