Posted to Announcement on 3/27/2012 at 9:30 AM
PITTSBURGH, March 21, 2012 – Twenty-somethings’ mounting debt is taking its toll, as 60 percent of the generation who grew up amid economic growth and graduated into a hard-hitting recession say they feel stressed about their outstanding debt, according to a survey by The PNC Financial Services Group, Inc. (NYSE: PNC).
The unique study compares responses among Generation Y and reveals that both low- and high-interest-rate debt increases with age, while the portion of income saved decreases in the late 20s.
These findings are part of the first-ever PNC Financial Independence Survey, which sought insights into the financial mindset of 20-somethings who make up nearly a third of the U.S. population and represent one of the largest generations in history.
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