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Gen y takes after their parents when it comes to finances- 75% of millennials are in debt
Posted on 4/4/18 at 8:58 pm
Posted on 4/4/18 at 8:58 pm
LINK
before you bitch about another millennial thread, these are some interesting points.
depending on how "savings" is defined
how do people live like this
before you bitch about another millennial thread, these are some interesting points.
quote:
A quarter of millennials — those 18 to 34 years old — are over $30,000 in debt, including 11 percent who are over $100,000 in debt. Only 22 percent of millennials are debt free.
quote:
Millennials with college degrees are more likely to have credit card debt (56 percent) than those without college degrees (40 percent). But they are also more likely to make more money — 56 percent of millennials with college degrees make over $50,000 a year compared with 31 percent of millennials without college degrees.
quote:
Forty-nine percent of African-American millennials have student loan debt — more than any other racial subgroup.
depending on how "savings" is defined
quote:
Three in 10 millennials have less than $1,000 in their personal savings, and only 1 percent have over $100,000 saved. A quarter, 24 percent, have no personal savings.
quote:
Two-thirds of millennials, or 67 percent, said they would have difficulty paying an unexpected bill of $1,000 right away.
how do people live like this
36
Posted on 4/4/18 at 8:59 pm to GreatLakesTiger24
quote:
Only 22 percent of millennials are debt free.
The graph clearly says, 23% - No debt.
Posted on 4/4/18 at 9:00 pm to GreatLakesTiger24
GenX is the only thing holding this shite together
Posted on 4/4/18 at 9:02 pm to GreatLakesTiger24
I was part of that 23% until last year. Now I have a mortgage 
Posted on 4/4/18 at 9:02 pm to GreatLakesTiger24
quote:
Two-thirds of millennials, or 67 percent, said they would have difficulty paying an unexpected bill of $1,000 right away.
Why would this surprise you? Two-thirds of millennial are in their late teens and early 20s putting them in college or just out.
Posted on 4/4/18 at 9:03 pm to GreatLakesTiger24
quote:
how do people live like this
They don't know any other way. Most of their parents were/are retarded with money.
Posted on 4/4/18 at 9:07 pm to GreatLakesTiger24
Millennial checking in. 31. Zero debt.
This post was edited on 4/4/18 at 9:08 pm
Posted on 4/4/18 at 9:08 pm to GreatLakesTiger24
im 35.. have house note, and vehicle note. So im in debt! No credit card bills or nothhing though.
Posted on 4/4/18 at 9:09 pm to GreatLakesTiger24
So a quarter of the millineal population can’t even afford to be in debt?
Posted on 4/4/18 at 9:10 pm to AbitaFan08
30. No debt. Money in da bank. 
Posted on 4/4/18 at 9:12 pm to GreatLakesTiger24
I'm 40, married with a kid and have a mortgage and 1 vehicle note. Is that bad or something?
Posted on 4/4/18 at 9:13 pm to GreatLakesTiger24
32. Millennial. 0 debt. Over 100k in savings.
Thread is shite.
Thread is shite.
Posted on 4/4/18 at 9:14 pm to Barstools
quote:
32. Millennial. 0 debt.
You’re 32 and don’t have a mortgage?
Posted on 4/4/18 at 9:15 pm to UpToPar
Nope, I rent.
Posted on 4/4/18 at 9:15 pm to Barstools
quote:stay single
32. Millennial. 0 debt. Over 100k in savings.
Posted on 4/4/18 at 9:15 pm to GreatLakesTiger24
I'm a millenial. I grew up in a rural area and my mother couldn't afford college so I had 20k in student loans. Paid them off. My wife went to medical school and got to 180k in student loans.
I make 6 figures and soon she will make double what I make. Sometimes student loans are a necessary evil. It's the morons that get 50k in student loans for a french literature degree that fuch up.
We also have about 250 left on our mortgage and about 40 in car loans. We were going to try and pay cash for our cars but my wife has a brand new camry at 0% and my tundra is below 3%. No credit card debt.
I make 6 figures and soon she will make double what I make. Sometimes student loans are a necessary evil. It's the morons that get 50k in student loans for a french literature degree that fuch up.
We also have about 250 left on our mortgage and about 40 in car loans. We were going to try and pay cash for our cars but my wife has a brand new camry at 0% and my tundra is below 3%. No credit card debt.
This post was edited on 4/4/18 at 9:20 pm
Posted on 4/4/18 at 9:16 pm to GreatLakesTiger24
quote:
Gen y takes after their parents when it comes to finances- 75% of millennials are in debt
debt doesn't equal bad. This is a stupid article.
Consumer debt in most cases is bad, but other than that theres no way to judge from afar whether a debt is bad or not.
Posted on 4/4/18 at 9:16 pm to Barstools
quote:
32. Millennial. 0 debt. Over 100k in savings.
Good for you man. Posted on 4/4/18 at 9:42 pm to Mingo Was His NameO
quote:did you read anything other than the title of the thread
debt doesn't equal bad. This is a stupid article.
Posted on 4/4/18 at 9:45 pm to Barstools
quote:
32. Millennial. 0 debt. Over 100k in savings.
Thread is shite.
You being an exception doesn't mean the thread subject is shite.
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