Generation X 'least financially secure'

Generation X Aussies may be in greater need of credit cards to help them get by, as a recent survey has found that this age-group is the least secure financially.

Conducted by RaboDirect, the report revealed that 40 per cent of those that fall into this demographic think their situation has got worse over the last 12 months.

Only one-third of respondents said they had sufficient cash to make it through to their next pay day, while the same proportion felt they did not have enough emergency money to last them two months, reports News Limited.

"Almost 2.5 million Australians in this age group always feel like they're in the red," said RaboDirect general manager Greg McAweeney.

Those that occasionally need to borrow money may find that getting a credit card helps to ease the financial burden.

However, YourMoney Magazine managing editor Jackie Pearson recently advised Aussies to compare credit cards properly before opting for one over another.

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