Debt as American as Apple Pie…

February 2006
Journal of Financial Planning;Feb2006, Vol. 19 Issue 2, p14
Academic Journal
The article reports on the results of a study conducted by Robert D. Manning on debt in the U.S. The research revealed that debt is considered an inevitable and likely permanent fixture of everyday life. It is noted that families are more likely to accumulate debt than reduce it even as they age because of the dramatic increase in spending on children and grandchildren. It is mentioned that the stigma of debt is largely gone because of mass marketing pressure for immediate gratification. Research results also shows that long-term financial planning among the baby boom generation and their children is mostly non-existent.


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