Older millennials entered adulthood around the time of the 2008 financial crisis, which was followed by higher education funding cuts, rising college costs and slow wage growth. The result: Millennials became the student debt generation.Apr 8, 2021
Just 13% of millennial credit cardholders are debt-free, slightly higher than the 11% of Gen Xers who said the same, but far less than the 29% of baby boomers without any debt. 67% of millennials report having credit card debt, while just 36% face student loan debt.
Payday loans are designed to trap you in a cycle of debt. When an emergency hits and you have poor credit and no savings, it may seem like you have no other choice. But choosing a payday loan negatively affects your credit, any savings you could have had, and may even cause you to land you in court.Jan 12, 2021