This is the type of debt millennials have
April 24, 2019 by Bethany Frank
Millennials are poised to face a much more difficult path to financial security than their parents’ or grandparents’ generations. Inc.com reports that millennials already have an average of $42,000 in debt, and that number is expected to increase as more people in this generation get married, buy homes, and start families of their own.
According to the data from Ypulse, nearly 80% of millennials ages 21 to 24 have student loan debt, over 50% of millennials ages 25 to 35 have credit card debt, and over a quarter of those under 20 already have some form of debt.
Millennials often lack access to the financial tools and knowledge that can help them build a more secure financial future. Namu is a new app that makes it easy for people to take control of their finances, keep track of every transaction, and learn how to manage their money better.
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