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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Younger generation `accepts debt`

03/05/2007

People under 25 years of age are more accepting of debt than the older generation, according to new research.

Some 61 per cent of the younger generation expect to buy their first home before they reach 30, compared with 58 per cent of older people who succeeded in doing so, which the company says suggests an increased feeling of comfort with debt among today`s prospective homebuyers.

"Young people today face a very different financial landscape than today`s retirees faced forty years ago," remarked Karl Elliot, spokesperson for engage Mutual`s 3GB campaign, which is investigating financial attitudes of different age groups.

"With consumer debt at an all-time high, 125 per cent mortgages readily available and credit at our fingertips, today`s young generation has become more accustomed to living with debt."

The survey also indicated that one-third of under-25s believe they will be at least 24 before they can afford to move out of their parents` house.

Some of the financial products offered by engage Mutual include life insurance, savings accounts and travel insurance.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according