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.


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