Young adults’ concerns about debt are nothing new. Since the General Election, many commentators have been writing about differences in generational attitudes. Young adults’ concerns about debt and career prospects have featured prominently.
Examination of research data appears to confirm this. 47% of GB adults aged 20-34 definitely agree that “I don’t like the idea of being in debt”, but so do 48% of adults a generation older, aged 50-64.
The group now aged 50-64 were the 25-39 year-olds of 25 years ago. Despite all that has passed over a quarter of a century, they are just as concerned about debt as they were in 1992. Back then, almost exactly the same number, 49%, definitely agreed with the statement.
If we look at their elders in 1992, we see that 65% of the 50-64s of the time expressed this opinion. So the generational difference of that time has disappeared, but the absolute level of just under 50% today seems to be a constant.
Today’s young adults do seem more concerned about their career prospects than those of previous generations. At least at this point in their lives, many judge them as requiring some family sacrifices. Only 32% of 20-34s now definitely agree that “My family is more important than career” as against 47% of their equivalents of 25 years ago.
TGI (Target Group Index) is a continuous survey which has been carried out in Great Britain since 1969, based on 25,000 adults per annum, who provide information on their use of all major products, brands and services. Media exposure, attitudinal and demographic data are also included. Kantar, who own and operate the TGI (Target Group Index) are making major donations of data to AMSR.
To explore the TGI archive within AMSR, click here. (This link to the archive contents will open as a separate page)