Young adults have higher credit card debt, relative to annual income, than any other group.
Research group RFi found that people aged 18 to 24 have card debt equivalent to 11.5 per cent of their income. For people aged 25 to 34 the proportion of credit card debt to income is 10.7 per cent.
For people aged 35 to 44 the proportion is 9.4 per cent, and for those aged 45 to 54 it is 9.8 per cent. For those aged 55 to 64 it is 8.9 per cent, and for those over 65 it is 6.8 per cent.
Source: Banking Day