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New findings: teenage boys will be the biggest users of pay day loans

New findings: teenage boys will be the biggest users of pay day loans

Brand brand brand New figures show, that 63 per cent of payday advances among young adults involving the many years of 18 and 29 are removed by guys – and based on personal economist in Danske Bank, Louise AggerstrГёm Hansen, that may be the start of a downward monetary spiral.

This is certainly a primary reason why confidence that is financial regarding the cornerstones into the bank’s societal impact strategy.

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At Danske Bank, Emil Toft Hansen from Copenhagen University happens to be writing their company PhD thesis on financing habits of citizens located in Denmark. Associated with this, he’s charted loan that is payday among around 20,000 Danske Bank clients. Their findings reveal that 40% of most payday advances are applied for by young adults between your ages of 18 and 29, as well as in two out of three cases the borrower that is young a guy. Read More