According to Forbes, millennials’ top 3 fears are: debt, affording rent, and budgeting.
While the first two are fears based on existing challenges, the third may well supply the solution for the former two, especially given the tools that are available through digital financial management tools.
Many Millennials originally entered the world of financial reality facing a tepid job market, heavy student debt, stagnant wages, all while trying to fund a nest egg, it’s no surprise today’s Millennials are experiencing lots of financial challenges that can hold them back from achieving the life that they desire.
Let’s break these financial concerns down:
.Paying the man – According to a 2017 Student Loan Hero survey, 39 percent of millennials say too much debt is the No. 1 source of money stress and about two-thirds never learned how to handle debt. Between student loans, credit cards, and medical bills, avoiding debt (or making any progress paying it off) can seem impossible for millennials. Debt can accumulate quickly, and many Millennials live in constant fear of watching it grow.continue reading »