New findings: teenagers will be the biggest users of payday advances

New findings: teenagers will be the biggest users of payday advances

Brand brand New figures show, that 63 per cent of pay day loans among young adults involving the many years of 18 and 29 are removed by males – and in accordance with personal economist in Danske Bank, Louise AggerstrГёm Hansen, which can be the start of a downward spiral that is financial.

This is certainly a primary reason why confidence that is financial associated with cornerstones when you look at the bank’s societal impact strategy.

At Danske Bank, Emil Toft Hansen from Copenhagen University happens to be composing their company PhD thesis on financing habits of citizens staying in Denmark. Associated with this, he has got charted loan that is payday among around 20,000 Danske Bank clients. His findings reveal that 40% of all of the pay day loans are applied for by teenagers involving the many years of 18 and 29, as well as in two away from three instances the young debtor is a guy.

Continue Reading