Millennials and Credit Card Debt [9 Myths That Hold You Back]

Millennials and Credit Card Debt [9 Myths That Hold You Back]

Written by Madison Smith |  BestCompany.com | Last Updated March 30th, 2020

recent survey asked millennials how they felt about paying off all their credit card debt this year. The responses indicated a real lack of optimism:

  • 25% felt not at all confident
  • 28% felt slightly confident
  • 20% felt moderately confident 
  • 28% felt very confident

Nearly three-fourths of the millennials surveyed did not feel fully confident in their abilities and skills to pay off credit card debt. Are you part of this group too?

Don’t let your stress or lack of understanding push you away from developing great personal finance skills; instead, embrace your misconceptions and learn where to go from here. 

Below is a list of myths that many millennials believe when it comes to handling credit card debt. If any, or all, of these myths have come across your mind, don’t stress — a panel of over 20 financial experts have shared their wisdom to help guide people just like you, a millennial struggling with debt. 

Go on, start clicking through the list of myths; I guarantee you’ll walk away feeling a bit more financially confident.

Share:

Share on facebook
Share on twitter
Share on linkedin

More Posts

Financial Education Can Reduce Poverty And Help Americans Escape Its Cycle

Written by Jeff Mount July 6, 2020 Multi-generational poverty negatively affects every aspect of the American economy. Real Intelligence CEO Jeff Mount says financial literacy education helps break the cycle of poverty.The legacy of multi-generational poverty among American families is reaching worrisome levels. Multi-generational poverty is defined as a family having lived in poverty for

Majority Of Americans Plan Financial Changes Post-COVID-19

(PR Web) Written by Jeff Mount Monday,  June 22, 2020 Pre-COVID-19 financial surveys showed that 36% of adults would have to borrow or sell something in order to cover an unexpected $400 expense–while post-pandemic, the number increased to 54%.(1) Many Americans are reviewing their finances and planning to make changes, though unfortunately many are finding

What Makes a Better Investor in the ‘New Normal’

(Masta4650/Dreamstime) Written by Jeff Mount Monday,  June 22, 2020 Portfolio managers are often asked, “What’s your alpha?” The average investor might not be aware of what this phrase means, but it is asking “What makes you better than other portfolio managers?” The traditional definition of “alpha” in the investing world refers to “risk adjusted return.”

Send Us A Message

Scroll to Top