Young people have the lowest levels of credit card debt but those in the 18 to 29 age group have the highest non-mortgage debts.

Nearly half of young people's debt (46 per cent) comes from low-cost student loan commitments, as revealed in a new borrowing survey from Alliance & Leicester.

However, when it comes to credit card debt, young consumers have on average £1,073 on their cards compared to £2,580 for those in the 30 to 50 year old group.

"Our research confounds the stereotype that young people are spendthrift and irresponsible with their finances. Student loans are their largest commitment and whilst the interest on these are low, it still seems to constrain their appetite for other debt," said Chris Rhodes, from Alliance & Leicester.

Nationally, Scots have the highest non-mortgage debt – borrowing on average 28 per cent of their income compared to a national rate of 22 per cent and Londoners and those in south-east have the lowest proportion of non-mortgage debt.