Assumptions On Millennials And Money Part 1

Image is from Pixabay

It’s a well-known fact that in this day and age, money is needed to live a decent life. Due to the ongoing war, finances changed from what feels like day and night, especially in Europe. It’s upsetting because most things that are affected are things you can’t do without, like food and energy.

The only stuff I buy outside of household bills is Netflix, which we share as a family and books and even more that I get for free from Amazon, other sites, and on rare times the library. I’m 26, so I guess you can say I’m a millennial too. Here are some myths you might believe about young adults and money that studies proved are false.

Myth No. 1: Millennials Use Credit Cards Like It’s Free Money versus the truth: A Smaller Percentage of Millennials Have Credit Card Debt.

According to the GOBankingRates survey, people in America aged between 18 and 24 have the lowest percentage at 37% of debt between the age groups. Now, correct me if I’m wrong, but on average most 18-year-olds leave the nest and go live on their own or with roommates.

Myth No. 2: Millennials Don’t Care About Their Credit versus The Truth: Millennials Track Their Credit More Than Others.

I have to say that I think that most young people do care, but that depends on the person’s background and if they were taught skills like budgeting. I believe that money always depends on life factors.

As per typical me, I’m not too fond of long posts, so I’m splitting my comments on this article into two parts. Tomorrow, I will also take a look at blogging and ads. Mind you, I never really hang of it, but I will re-google it and see if I could figure some of it out.

Alex

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