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The most common personal finance question of Millennials


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The fear of paying student loan debt for the rest of one's life seems unique to people born in an era when education is so expensive that it necessitates large amounts of debt to get a degree.

From the article above, we see that the old ways of giving financial advice don't necessarily work for millennials.

Scarred by the Great Recession and laden with student debt, few millennials are in the mood, or in a position, to seek out a traditional financial adviser. But they need financial advice just the same.

Hence the arrival of new and unconventional approaches that try to help 20- and 30-somethings start saving and investing. These range from largely free or inexpensive services offered by financial-services providers—including those the hipsters have tended to shun—to podcasts and blog posts hosted and written by financially savvy young people working hard to win over a generation of skeptics.

Millennials think more about saving for lifestyle than reducing debt or accumulating wealth:

Some of the millennials Carr helps are saving money, she says, but tend to have goals that are somewhat immediate and lifestyle-oriented, such as finding the money to travel. “It’s not all about your accumulation of wealth,” she adds.

Also from that page: How Often Millennials Check Their Finances...

how often millennials check finances advice chart infographic

Also from that page: Who Millennials Ask For Financial Advice...

who millennials ask for financial advice chart infographic

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