Young Adults retreat From Piling Up Debt
No intro APR for your first year if approved! These credit cards ad has definitely caught our eyes once in our life time, although these deals might be very attractive and enticing many adults as young as 35 years old still carry a debt of over $10,000. This statistic only accounts for credit card debt but the debt that haunts young adults most is college loans.
I personally am in debt myself with both credit card and student loans. From this article though, we see that the number and amount of debt that young adults are owed are slowly decreasing. This is probably a result of more financial aid are being awarded and there are many websites and programs out there to assist the “dummies” for debt. I think these sites are definitely making us more more savvy with our finances.
Nonetheless, it doesn’t matter how attractive it sounds. Be careful before you sign up for anything and be savvy with your own money. At the end of the day, whatever you sign will be under your name!