62% of millennials say they’re living paycheck to paycheck

[Palumboism]

62% of millennials say they’re living paycheck to paycheck

By Megan Leonhardt

Almost two-thirds of millennials say they’re living paycheck to paycheck and only 38% feel financially stable, according to a new survey from Charles Schwab.

Millennials, more than any other generation surveyed by Schwab, feel the most insecure when it comes to their finances. That’s according to roughly 380 millennials (ages 23 to 38) surveyed for Schwab’s 2019 Modern Wealth report.

The median amount of loan debt millennials carried was $19,000, significantly higher than Gen Xers’ balance of $12,800 at the same age.

Student loans are not the only kind of debt millennials hold. About 40% of millennials (defined here as those 20 to 35 years old) have credit card debt, according to a recent survey by LightStream, the online lending division of SunTrust Bank.

Millennials ages 25 to 34 had an average of $36,000 in debt last year, excluding home mortgages.

https://www.cnbc.com/2019/05/10/62-percent-of-millennials-say-they-are-living-paycheck-to-paycheck.html

[Irongrip400]

I read somewhere that a majority of millennials think they’ll be millionaires by 50. Not sure how they’ll accomplish that buying avacodo toast for $12 a whack.

[ratherbebig]

maybe if we tell them bout pellius they will get their shit together

[oldtimer1]

They should have went into the trades and made a 100K plus a year.  Two plumbers in my gym. Both retired early and have amazing houses.

[ratherbebig]

They should have went into the trades and made a 100K plus a year.  Two plumbers in my gym. Both retired early and have amazing houses.

there names isnt mario and luigi by any chance?

[Soul Crusher]

Worthless generation of socialists and losers

[ratherbebig]

Worthless generation of socialists and losers

we should throw them out of the country !

[denarii]

good sugar daddy opportunity if you have the social skills of visualize perfection

[TheGrinch]

I read somewhere that a majority of millennials think they’ll be millionaires by 50. Not sure how they’ll accomplish that buying avacodo toast for $12 a whack.

Apparently its from having their own YouTube channel and each making BILLIONS $$$ Free money $$$ Kachingo $$$

[TheShape.]

Worthless generation of socialists and losers

Don’t lump me into those cucks, I’m 24 living on my own with no debt.

[Powerlift66]

One survey had their biggest stress in life, when their phone was lost or broken.
 
OH THE HUMANITY!!

[Thin Lizzy]

They should have went into the trades and made a 100K plus a year.  Two plumbers in my gym. Both retired early and have amazing houses.

It’s a shitty business literally but a solid way to make a living. It’s even getting easier with more PEX and PVC pipe and less heavy wrenching.

[IroNat]

If you are living paycheck to paycheck you are living beyond your means.

Move into a more affordable cardboard box.

[Humble Narcissist]

Don’t lump me into those cucks, I’m 24 living on my own with no debt.

Good job!

[Palumboism]

If you are living paycheck to paycheck you are living beyond your means.

Move into a more affordable cardboard box.

They want to live in New York or San Francisco where the rents are sky high and they won't even be able to save $1.

[IroNat]

They want to live in New York or San Francisco where the rents are sky high and they won't even be able to save $1.

Yes, but it's worth it.

[Humble Narcissist]

Yes, but it's worth it.

Why?

[SF1900]

Yes, but it's worth it.

I believe I read that many ppl who live in San Fran spend 70% of their paychecks on rent.

[Humble Narcissist]

I believe I read that many ppl who live in San Fran spend 70% of their paychecks on rent.

Yes, much better to live outside the city and just visit whenever you desire.

[Go 4 It]

Tons of people I work with have nothing, they work 6 months straight on the ship, then use everything they've earned in those 6 months on their 3 month vacation.  Backpacking through Europe,  elaborate trips to Bali, Australia
.all kinda of stuff. One friend of mine came back to the ship with $5 in his bank account.

[IroNat]

Why?

It never rains in California.

[Henda]

The lad I work with lives like this in fact even worse as I often have to pay him Monday morning for Monday’s pay so he can buy food for when we stop for dinner, usually has already had 2 to 3 days of his pay come Friday. I’ve tried to talk sense into him but every week it’s the same shit I couldn’t imagine living like that in fact I think it’s childish as part of growing up and being a man includes managing your money it dosent surprise me that these millennials spoiled pussies do this

[Palumboism]

New Survey from Varo Shows Americans Are Underfunded but Optimistic
By Editors at Varo

SAN FRANCISCO – March 5, 2019 – New survey research from mobile banking company Varo Money found Americans are curiously optimistic about their futures, despite having little or no money saved.

Emergency cash

Across all age groups, 55% of respondents said they did not have $500 in cash for an emergency. Men are far more likely than women to have an emergency fund of at least $500 (56% of men vs. 39% of women). Six in 10 (61%) millennials don’t have $500 to cover an emergency expense; that percentage is even higher for millennial women, 65% of whom don’t have that amount. Suggesting a link to lack of emergency cash and general financial vulnerability, 43% of all people who don’t have access to $500 also do not have health insurance.

https://www.varomoney.com/press_release/new-survey-from-varo-shows-americans-are-underfunded-but-optimistic/

[MAXX]

To be honest I did too in my early 20's 

[Humble Narcissist]

It never rains in California.

I mean why live in San Francisco?  Live 50-75 miles outside of the city and visit on the weekends.  You get the great weather for a much cheaper price.