Easy come, easy go: borrowing over the life cycle

Authors: Andrea Finney, Sharon Collard, Professor Elaine Kempson
Funded by: Standard Life
Published by: Standard Life
Publication date: December 2007

The overall aim of this project was to provide a better insight into life-cycle linked triggers of borrowing and from this, to examine how high levels of borrowing and financial difficulty might be mitigated or even prevented at different life-stages.

Within this the research had the following specific objectives:

• To identify triggers of credit accumulation, as well as the reasons why people feel they are likely to face concerns about borrowing at the different life stages.
• To look at attitudes towards saving, financial planning and borrowing among people at different stages in their life cycle.
• To provide an understanding of the issues that drive the accumulation of borrowing.
• To explore perspectives on reducing and avoiding 'problem debt'.
• To help inform public policy debates about dealing with the problems arising from increasing levels of borrowing.

The study comprised three main elements to inform an understanding of who borrows and why:

1. A review of existing empirical research literature.
2. Secondary analysis of two national social surveys.
3. Primary analysis of eight focus group discussions with young adults, people in their family years and people in the post-family years.

---

Easy come, easy go: borrowing over the life cycle [ Full report (PDF, 658kB) | Executive summary (PDF, 285kB) ]

---