fbpx

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

Inflation, Risk Shifts and Political Blather

The government measures price-changes that occur in the cost of goods and services in the economy. They represent that measurement in an index, and then use that index to inflate the cost of government programs. The most often quoted measurement is the consumer price index (CPI). This index measures items like, housing, apparel, transportation, medical

Rebalancing is overdue for an update

The time has come for planners to claim language that is better suited to personal financial planning than the jargon we scrounged from accounting and finance in our infancy. In this article, we call for a revision the overused and imprecise verbs, “Rebalance” and “Rebalancing” and employ instead, “Age” and “Aging” as language refinements that

Invisible Data, Weak Plan, Poor Outcome

The balance sheet is among the most rudimentary of financial tools. Thanks to its omnipresence nearly everyone can explain the difference between assets and liabilities as net worth. Mortgage applications, financial plans and corporate filings bear witness to the universal acceptance of this base unit of financial knowledge.   Test the point by answering this

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

Send Us A Message

Scroll to Top