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Young people "have grown used to" living in debt, a spokesperson from Credit Action said today.
Associate director Chris Tapp commented that many younger people are "becoming very, very comfortable with a lifestyle that is essentially lived beyond their means" from an early age.
Compared to 50 years ago, people are less cautious with their spending and how much there are willing to put on a credit card, he explained.
"We now have a generation for whom you`re extremely odd if you`re not in a substantial amount of debt," remarked Mr Tapp.
He cited statistics which state that 80 per cent of those aged 16 to 24 admit that they do not keep track of their finances.
Overdrafts, credit card debt and loans should all be managed in order to avoid running into problems, he added.
The latest statistics from Credit Action put the total debt in the UK at £1.325 billion.
