What’s giving millennials so much agita? For one thing, student loans. Nearly a quarter of millennials blame high levels of student debt for their money-related anxiety. But given that the average borrower aged 20 to 30 is on the hook for a monthly payment of $351, that’s not particularly shocking.
And let’s not forget general debt — something younger workers are also familiar with. The average borrower under 35 carries an outstanding credit card balance of $5,808, and at 20% interest, which is in the ballpark of what many cards charge, that’s a lot of potentially wasted money. Throw in the fact that younger workers are typically dealing with lower levels of income, and it’s no wonder they’re so overwhelmed. Click here to read more.