Younger generations are widely thought to be averse to credit, but according to recent data from Experian, the tides might be changing.
1. Millennials (ages 23 – 38) carry an average credit card debt of $4,712, a 7% increase in the past year.
2. Generation Z (ages 18 – 22) carry an average credit card debt of $2,057, an 11% in the past year.
Both are still lower than the national average of $5,474, but quickly making up the deficit – increasing debt faster than other age groups.
More information and analysis coming soon at MikeaboutMoney.com
PayPal will be expanding its in-store payment offerings this year, now offering users the ability to deposit money onto a prepaid debit card or use their service via a partnership with Samsung Pay.
This makes paying for goods easier for consumers, especially the so-called “un-banked.” But, are Debit Cards a secure way to complete transactions? You may be surprised at the answers. Read more here at MikeaboutMoney.com.
Being a young adult can be exciting – enjoying the early stages of a career, having your own place, making new friends – but it can also be confusing and stressful. One of the reasons is money, and learning how to manage it.
This important article was just posted at MikeAboutMoney.com.
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Higher Interest rates
Interest rates are set to go higher for consumers borrowing money for cars and home purchases. Treasury bond rates are rising which usually mean higher interest rates on car loans and mortgages.
Free Battery for Macbook Users
Some consumers who own 13-inch Macbook Pros will get a free new battery. Apple says it has found that a component in some of the devices can cause the battery to expand. You can find out if you’re eligible for a new battery by going to the Apple Support page.
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