MORE than six in 10 Brits are relying on credit and finance more than ever – with younger people feeling the pinch the most. A poll of 2,000 adults found 60 per cent of 25-34-year-olds believ…
MORE than six in 10 Brits are relying on credit and finance more than ever - with younger people feeling the pinch the most.
Only 28 per cent of 25-34-year-olds pay the full amount right away when purchasing new items, instead relying on deposits and finance, whereas 73 per cent of 55-64 year olds pay in one go.But only 17 per cent of 25-34-year-olds have money to spare at the end of the month, compared to 64 per cent of people aged 55-64.for someone to win an entire rent-free summer, said: “Life has suddenly become more expensive for all of us.
In the current climate, financial security is a worry for younger generations, with the top concerns named as being able to retire , having substantial savings and getting on the property ladder . It also emerged cars , furniture and mobile phones are the most common items people are likely to buy on finance or credit.A fifth went as far as to say most of the things they own are now rented or purchased through finance in a bid to have items they would otherwise be unable to afford.
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