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
Mike Schiano, the “DebtBuster” will present “Give Yourself Credit,” in Hollywood, FL, tomorrow from 1:30pm to 3pm for WorkForce One’s PPN Forum.
“Whether you are trying to get a job, qualify for a loan, get lower interest rates, open checking or trading accounts, etc, your credit report and score are your financial resume!! Both must be at their best and improving all the time. I will tell you step by step how to understand and improve your credit,” says Mike Schiano, nationally recognized personal finance expert, broadcaster and author.
In Give Yourself Credit, Mike will cover these topics:
-Why is Credit so Important?
-Standard Credit Reports
-Other Credit Reports
-Credit and Employment
-Improving Your Credit
-Managing Your Credit
-Your Credit Score -Other Credit Scores
-Improving Your Credit Score
Plus, Mike will give out helpful resources and assistance.
Mike will also have some updates on the new Credit CARD Act which has led to increases in Credit Card interest rates and Fees over the past 6 months…
Add more tools to your financial toolbox by knowing what employers and creditors look for.
Mike is available during these tough economic times to speak to your employees, members, clients or students. Contact Green Rain Marketing to book Mike today. Ask about how you can get a Free Workshop!