A snapshot of a person in debt

A closer look at the key characteristics of a person in debt.

Ever wondered where you fit with the rest of the nation in debt? Check out our infographic which shows the statistics of gender, age groups and relationship status of 6,994 people currently in Debt Management Plans.

Gender and Debt

Instantly by looking at the data, we can see that the gender split between men and women is minimal, indicating that debt is not a gender specific issue.

When we compare our gender split with the national average it is nearly identical , with 50.8% female and 49.2% male.

What will be more interesting as we develop this research, is identifying the reasons each gender has gone into debt – discovering key trends and patterns.

Age differences in debt

We have marginally more clients in the 25-45 age range with average lower debt levels of £19,930, in comparison to the older 45-65 category amassing on average £27,665. This could suggest that as younger and younger generations become more acclimatised to the current economic climate, they are more reticent to take some on of the larger sources of consumer debt, delaying marriages and opting for house shares over mortgages. This is illustrated with over half of the two older categories paying for a mortgage.

The mid to younger range demographic may also take a more proactive approach to addressing their debts as a rising number of maturing graduates will already have been familiar with owing vast sums in the form of ballooning student loan debts, potentially suggesting this climate of borrowing parallels a climate of repaying- Is this really the case?

Are the younger getting richer as the older are getting poorer?

Or are the younger simply more aware of the debt solution options available as a result of being exposed to debt earlier in life?

Relationships and Debt

Interestingly, 41% of the data group were married and in debt.

Representing the largest group, households with expected shared incomes are still financially stretched; it can be assumed that this demographic would have a higher likelihood of owning property, pushing already fragile income and expenditure balances past breaking point with mortgage repayments.

Does this snapshot of the average person in debt ring true for your current financial and domestic circumstances or do you feel that you are the exception to the rule?


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