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

Unreal Expectations, No Trust Lead Investors to Failure Read

Written by Jeff Mount October 01, 2020 Registered representatives. Wealth consultants. Investment advisor representatives. Financial planners. These are all names that describe people who are in the financial services business. They differ in that each has a slightly different tilt, but all have one thing in common: Most Americans have chosen not to work with

New Tolerance for Lofty Inflation Is Dangerous

Written by Jeff Mount September 03, 2020 Federal Reserve Chairman Jay Powell recently announced a policy for tolerance of higher than average inflation rates for short periods of time. Although the language has changed, the actions really haven’t changed. The Fed has kept rates near zero for quite some time. What has changed is this

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

Send Us A Message

Scroll to Top