Show Debt a Bi Big Problem for Your Young Americans ns Justin Contributing Writer Last December a small comic appeared on the opinIOn opinion ion IOn page of the Deseret News It showed a large group of people pushing shopping carts full of TVs TV's DVD players play play- of ers stereos and all sorts other items In the middle of the people was a reporter for a news sta- sta sta sta- tion The caption bubble had her saying This week thousands thousands thousands thou thou- sands of people in America a nation built on Judeo- Judeo Christian values and moral righteousness stampeded into stores buying obscene amounts of stuff they dont don't need This comic speaks of interesting interesting interesting inter inter- esting trend in America we weare weare weare are spending more than we make on fickle things we dont don't need Obviously we have become nation of consumers This a of the amounts is evident by being spent each year I money which regularly rises and the amount of debt being contracted contracted contracted con con- by all age groups contribute to Many factors acquire But the debt people conclude that its it's experts attributed more often than not with being wise to simply not money The average indebted between 25 and 34 adult nearly 25 cents of every spends dollar earned on debt Tamara payments says aw s A- r. r I P PY Y i 14 rrY Ory 6 ft f f y Y r 3 4 7 F fc iii coauthor of the Draught study Generation Broke The Growth of Debt Among Young Americans The current generation entering and leaving college was never taught to be frugalI frugal I up during the Regan grew boom and the Clinton Boom Brandi Dobbins a recent says university graduate in Washington DC D.C. My mom could shopping for a family family family go with ly of four on 75 a week I dont don't think her coupons Ive I've ever clipped a coupon Its It's just not in me When it comes to saving today's youth just arent aren't hip kid who's on his l s I know a year seventh car in the past trading in these He just keeps he gets off brand new cars said Aaron Peck a student student student stu stu- stu- stu lease 22 Now hes he's dent at in years old and debt Those who plan on having W J T a lot to fall back on may get a jolting shock Consumer Federation of America Executive Director Stephen Brobeck says many Americans are only a layoff or emergency expenditure away from financial disaster According to the Credit Union National Association 25 percent perc nt of US households have net assets of less than of and the majority those are young adults between 25 to 34 Those in debt have many options open to them to get out of the hole However the best way to live a comfortable life is to stay out of all possible debt Money can provide a sense of security or a sense of hopelessness hopelessness hopelessness hope hope- depending on how people use minimum mil minimum mini mini- Keeping debt to a mum all experts agree is the safest road 4 Oka a |