Page 2 - 26.Millennial Financial Issues Part 1.
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Millennial Financial Issues
Part 1.
The Millennial Generation, also known as Generation Y or the Net
Generation, has been recognized with variety of birth ranges going as far
back as 1976. Howe and Strauss however, define the Millennial cohort as
consisting of individuals born between 1982 and 2004.
There are several issues which affect the financial stability of this
generation.
1. High Debt – High debt is often incurred due to loans and credit cards
taken to acquire items considered as necessities such as a vehicle or
when furthering education. This means at the end of the month, most
of your income is committed to paying several bills instead of being free
for use at your disposal.
2. Low Income – Many employers are currently offering low wages while
demanding more based on the current economic situation. Many
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