The place of debt in establishing identity and self-worth in transitional life phases: young home leavers and credit

摘要

Consumption behaviour has long been linked to identity and notions of the self, with these concepts becoming ever more relevant in a global culture of consumption where materialistic behaviours and attitudes are seen as determinants of self-image. Against this landscape of consumption, Generation Y is oft criticized as the 'want it now' generation, focused on hedonic acquisition of possessions and brands. This group was born into a society that reinforces the self through having and have been encouraged to consume since childhood. Debt is increasing in the youth market, with most teenagers now having access to credit cards and university graduates entering the workplace with high levels of consumer as well as educational debt. This study examines the consumption behaviour of two sets of young adult consumers: recent home leavers and those who have lived away from home for a longer period of time, examining their experience with debt in a framework of self-identity. Core themes to emerge from this research are centred on the place of debt in establishing identity and self-worth in transitional life phases.