Young Americans stressed about their financial health might take solace in one thing: They’re not alone.
According to new data released by Northwestern Mutual, a significant percentage of millennials and younger Americans are carrying large amounts of personal debt — and feel guilty about it. Millennials on average carry $27,800 in personal debt, most of it from credit cards, and members of Generation Z average about $14,000.
The high debt averages paint a troubling portrait of Americans carrying large amounts of debt at a young age — saddling young Americans with financial uncertainty unlike that of their parents and grandparents.
“There are lots of people who exit school, and before they start their first job, have debt,” Chantel Bonneau, a wealth management advisor, told Buzzfeed News. “That is a different situation from 30 years ago.”
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Must be nice to live with no responsibility...
ReplyDeleteThey are no different than the government that governs them
ReplyDeleteIn some states (like Hawaii) credit card debt dies when you do. The credit card companies have to eat it. In others (like Maryland) credit card companies are allowed to go after your estate to collect on your unsecured debts, those that are not secured or backed with collateral. You see who our politicians support (and take money from) in Maryland. A most corrupt state.
ReplyDelete