Investing Book Targets Young Adults

June 17, 2005 | | San Diego Union Tribune |
"If you look at the statistics, every week and every day there is a story about how much credit card debt that demographic carries. They are targeting people younger and younger. The marketing and promotion of these products are very powerful, and people can't resist it." A recent study by Demos, a New York nonprofit research organization, found that credit card debt for people ages 18 to 24 climbed 104 percent between 1992 and 2001. The fastest growing group of bankruptcy filers are in the 18-to-24 age bracket. More than 80 percent of all undergraduates have at least one credit card.
 
"If you look at the statistics, every week and every day there is a story about how much credit card debt that demographic carries. They are targeting people younger and younger. The marketing and promotion of these products are very powerful, and people can't resist it."