Young people quick to get into debt, slow to pay it off

A new study reports young people are quick to get into debt -- and slow to pay it off.

Today, young adults have far more credit card debt than their parents and grandparents did at a similar age, according to Ohio State University.

Financial experts say parents should talk with their kids about the pitfalls of debt. They say that if this trend persists, the nation may eventually be faced with a financial crisis among elderly people who can't pay off their credit cards.