Millennials are 25 percent more likely to report that they have lost money to fraud than consumers aged 40 and over, according to a new Federal Trade Commission analysis of consumer complaint data. The FTC’s latest Consumer Protection Data Spotlight shows that millennials—those ages 20-39—are twice as likely to report losing money to online shopping …
According to a story published recently in USA Today, fewer American millennials are able to buy cars and homes because they are burdened with high levels of student debt. This problem is well documented. The Federal Reserve Bank of New York reported that declining home ownership is partly due to student debt, and the American …
What spending did you regret today? Going to the movie theater to see a new first-run flick? Buying plane tickets for an upcoming vacation? Splurging on a latte? Buying day-old sushi at the convenience store? We’re pretty sure that everyone would regret the sushi – but given the other choices, if you are a millennial …
I’m the perfect age (um, let’s just say in my 50s) and profession (CPA and credit counselor) to insult Millennials. They’re idealistic. They don’t work hard. They need constant care and feeding to do their jobs. On and on. Except I don’t believe any of that. While my parents were the Greatest Generation, I believe …
Chances are you’ve fallen for at least one of them. We’re talking about money myths — those erroneous financial proclamations that get passed down from generation to generation as fact. You know, things like “buying in bulk is always better” and “buy low and sell high” when investing. But there’s a set of money misconceptions …
A new report confirms what we all fear to be true: Americans, no matter their age, are generally terrible at managing their money. In short, we all need to save more. A lot more. This insight comes from Financial Finesse, a think tank geared toward helping people reach financial independence and security, in its 2015 generational …
Here is a nifty infographic showing the generational difference and growing danger of student loan debt. Looks like Generation X, those born between 1965 and 1984 is sinking fast. But more Millennials are loaded up with debt than any other generation. And this is what an unfolding crisis looks like.