Term: millennials
8 found

Millennials Have Low Credit Scores: Here’s What They Can Do About It

By Steven Shaw on 8/10/2015

millennials low credit scores

Have you heard? Millennials have the worst credit scores of any generation. The data point plays well with one of Americans’ favorite pastimes: discussing the dismal state of the nation’s youngest consumers.

credit score
millennials

First-Time Homebuyers Getting Serious About Buying a Home

By Steven Shaw on 7/20/2015

First-Time Homebuyers Getting Serious About Buying a Home

More than half of millennials (52%) who think they’ll buy their first home in the next five years say debt is keeping them from purchasing a house, according to a survey from TD Bank. An even larger portion (70%) say they need to save more for a down payment. Yet these aspiring homeowners are optimistic, with two-thirds of them expecting to buy within the next two years.

First-Time Homebuyers
Home Loan
Homebuying
millennials
Mortgage

The Millennial Mindset That’s Setting Them Up for Financial Success

By Steven Shaw on 7/9/2015

The Millennial Mindset That's Setting Them Up for Financial Success

Millennials are big on communication and DIY projects. While some say they are self-centered, or even self-obsessed, others point to their tendency for group-think and communitarian leanings. They believe more in the power of their network of friends than in institutions.

Annual Credit Report
AnnualCreditReport.com
credit score
Free Annual Credit Report
millennials
personal finance

Why These Millennials Don’t Have Credit Cards

By Steven Shaw on 9/22/2014

Why These Millennials Don't Have Credit Cards

If you ask a young consumer about the contents of his wallet, there’s pretty good chance he’ll tell you he has a debit card in it, if a recent survey is any indication. The prevalence of ecommerce and mobile banking practically makes it a necessity to have a payment card of some kind if you want to engage in the modern economy, but among the youngest adult generation, debit cards are the favorite. 

 

 

credit cards
millennials

Will Millennials Achieve the American Dream?

By Steven Shaw on 7/11/2014

Millennials & the American Dream 

Call it naïveté, healthy optimism or a unique outlook on the future — whatever the reason, young Americans are much more confident in what lies ahead of them than their older compatriots are.

millennials
personal finance

How Much Does a $20K Car Loan Really Cost You?

By Steven Shaw on 5/14/2014

car loan cost 

Quick question: On a $20,000, 60-month auto loan, about how much more would a borrower with a low credit score pay than a borrower with a high score? Would you say…

Under $1,000

  • $1,000-$3,000
  • $3,000-$5,000, or
  • More than $5,000
  • auto loan
    millennials
    VantageScore

    Student Loan Debt Keeping Millennials From Home, Car Loans

    By Steven Shaw on 4/19/2013

    CFPB Takes Aim at Discriminatory Auto Lending

    In recent years many studies have shown just how burdensome student loan balances have become for millions of borrowers across the country, but new data shows they are likely also playing a role in those consumers’ ability or desire to take on other types of debt. That trend could have a serious negative impact on both the housing and the auto markets.

    Millions of young Americans may now be actively trying to avoid applying for mortgages and auto loans as a result of the massive amount of student financing they have taken on, according to new research from the Federal Reserve Bank of New York. The percentage of 25-year-olds with outstanding student loan debt has grown to 43% through the end of 2012, up from just 25% nine years earlier. And at the same time, the average amount of debt held on those balances climbed to $20,326, an increase of 91% from 2003′s $10,649.

    Debt
    millennials
    student debt
    student loan repayment
    student loans
    students

    Millennials Rejecting Many Kinds of Credit

    By Steven Shaw on 3/25/2013

    Millennials Rejecting Many Kinds of Credit

    As the economy continues to recover from the effects brought on by the recent recession and more consumers are starting to feel better about their personal financial situations, many may be once again willing to start using credit and taking on larger balances. However, this seems not to be true of young people in particular.

    credit cards
    Debt
    millennials
    personal finance