The average UK consumer will be debt free by the time they're 50 according to new research from Money Matters.
The group say that it takes most people until this age to pay off their mortgage and at the same time clean up any other debt problems they've experienced like credit card debt and finance on a range of other products.
Stuart Glendinning of price comparison giants MoneySupermarket commented on the findings, "There are a lot of people in a cycle of debt. They're paying for credit over ten to 15 years, which means they may not pay it off until their retirement."
The research found that by the age of 50, most people have paid off their multiple debts with inheritance, savings and salary increases, leaving them free to put all of their money towards their retirement funds.
The financial outlook isn't any brighter north of the border with Scotland coming in with similar figures. The average Scot will be 49 before they're free from the shackles of debt.
Money Matters advise opening savings accounts, planning budgets and paying into a pension fund from an early age to avoid heading into old age saddled with debt.