Are Payday Loans the New Credit Cards for Millennials?
Every year, 12 million Americans take out payday loans, spending more than $7 billion on loan fees alone, according to research from The Pew Charitable Trusts. While people of all age groups and backgrounds get high-cost payday loans, studies show that Millennials are now turning to payday loans at a faster clip than any other segment of the […]
6 Financial Facts About Millennials
Financial news reports are buzzing about the Millennial generation. The same is true of the general press as well. You can’t turn on the TV; read newspaper like theguardian.com, blog or magazine; or listen to talk radio, without hearing someone opine about the rise of Millennials, also known as Generation Y. This year alone, I’ve […]
4 Reasons That Most Millennials Don’t Have a Single Credit Card
A new study from BankRate.com has found that 63% of Millennials in the U.S. – those between the ages of 18 and 29 – don’t have a single credit card. I’ll admit: I was initially surprised by this new data. At first blush, I wouldn’t have guessed that young adults would be opting out of […]
How to help Generation Y Survive the Great Recession
Young adults suffering through the Great Recession are having serious problems getting a handle on their spending, credit and debt woes, according to a new survey out from Western Union.