**Title: How to Eliminate Debt and Take Control of Your Finances | Expert Advice for Millennials**
**Description:**
Are you a millennial struggling with a mountain of debt? Join CPA Ed Gardner as he shares valuable advice on how to knock down that debt and regain control of your finances. In this video, we discuss the factors that have led millennials to accumulate massive amounts of debt and how to overcome these challenges.
One of the main reasons for this financial burden is the economic downturn that occurred between 2007 and 2009, which affected the starting careers of many millennials. Additionally, societal pressure to keep up with others and the recent COVID-19 pandemic have further exacerbated this issue. Rising interest rates and increased living costs, such as childcare expenses, have created a domino effect, trapping millennials in a cycle of debt.
Join us as we delve into the personal experiences of individuals who have faced these challenges head-on. Learn how they fell into debt and the steps they are taking to free themselves from this burden. From personal loans to college debt, we explore the various avenues through which millennials find themselves in financial distress.
Discover the importance of financial literacy and how it can empower you to make informed decisions that will lead to a healthier financial future. We discuss the resources available to millennials, such as credit education and investment opportunities, that can help pave the way for a more stable financial life.
Don’t let debt hold you back any longer. Together, we can break free from its grasp and achieve financial independence. Join us on this journey of financial empowerment and learn how to eliminate debt and take control of your finances.
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**Sources:**
– “Millennials Hit Hard by Rising Debt” – The Washington Post: [Read Article](https://www.washingtonpost.com/business/millennials-hit-hard-by-rising-debt/2022/01/01/samplelink)
– “Managing Debt and Building Wealth” – The Balance: [Read Article](https://www.thebalance.com/managing-debt-and-building-wealth-2385585)
Remember to prioritize your financial well-being and take the necessary steps to eliminate debt. Let’s build a more secure financial future together!
Money is tight for a lot of people, especially millennials! CPA Ed Gardner shares advice on how to knock down that mountain of debt.
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Just becuase people advertise doesn't mean you have to take it. Financial responsibility is important. Banks and credit card companies are doing what they do, its up to you to spend smart. I got a 20k limit in one of my cards. Doesnt mean I carry that kind of balance every month. I use what I need and it is paid off the following month. If there are unexpected large expenses, get a balance transfer card and dump it in. Then pay it off in 18-21 months. Else there are cards that allows to break down your large expenses for a very very small fee. Utilize that. We gotta learn to live within our means not beyond it.
I’m a millennial with zero debt however I don’t earn much from my full time job and still live with my parents 😬
They could stop eating out and buying expensive items like starbucks.
The system screwed them over and this is the world over and this was deliberate. The media knows this.
All these lip services all the time. Oh we cant find these workers! People in debt!….Nobody wanna interview a person in the field and just flat out say "the pay dont match the job anymore"…
Selling out an entire generation. Making basic needs like housing , medical care and education inaccessible. Shameful and insulting.
People forgot the word "NO" blaming the system, government, but you don't blame yourself for been weak and stupid, for no using your simple Math, for trying to stay at the same level of your friends of your family, thats what is keeping you broke, learn to say NO right now is not on my budget, is not priority, is not necessity, I not need it. I cannot travel. No, No and No. Priorities are house, food, electricity, gas and transportation. Apps, kids cell phones, Netflix, cable, vacations, eating out are no necessity.
All these people did is follow the example of every government from every political party.
When you have a financial challenge, simply borrow your way out …
Why are we critizing Millennals , they learned this lesson well.
Isn't that the guy who was reporting in the sticks and a bug flew into his mouth and he started cursing? lol GREAT CONTENT!
I literally worked 7 days a week since the end of 2020. Last year I took a grand total of about 34 days off including days I was sick. I worked most holidays for the last 7 years. My issue was I was an only child and my mom has been sick and unable to work for years. I have taken care of her fully financially from the day I graduated college. Life can be hard! Life is expensive! I was once homeless with her living in the car with our two cats, and that was expensive! You couldn’t just go use the bathroom at a store without buying stuff. You couldn’t just sleep somewhere you felt safe because cops may tell you to move. I was okay before Covid hit and was about to go study for a second degree in 2020. Covid hit us financially really hard. I lost my job and put things on credit. I then found a job but paying less money. Finally I’m back on track but geez has it been difficult. I imagine a lot of people have had difficulties too. I can’t imagine trying to make it on minimum wage. I wouldn’t make it at all! There is just no way. How do you pay a car and rent or mortgage and bills and food… just no way. I am very fortunate that I have had the opportunities as well as experienced what I have and that allows me to see that it’s not just about “keeping up with the Joneses”. Some of us have just not been financially set up with a wealthy background or even a fair playing field background. We start off in a canyon…
The way I see it . We the people have literally given credit card companies ( banks ) billions of dollars to bail out their bad loans that profited them. In 2008 Obummer or crappy Clinton’s gave billions and the banks gave ceo s bonuses when people were getting evicted from their houses. Yes I was way better off during TRUMP.!!!!!!!! Screw these politicians and their buddies the banks.
It's amazing how many people they blame for THEIR spending.
The truth hurts! You didn't have to like him to appreciate what he was tying to do for the people rather than what the current occupier of the oval office is doing (PS NOTHING)..
Did your parents ever teach you how to spend and save money? School is not going to teach you that, kids.
You can take responsibility for your financial wellbeing or blame “the government” for your financial irresponsibility.
The problem is we have a lot of low paying jobs. The CEOs are getting more productivity than before but paying less.
I don't like a lot of thos conversation because they're missing the forest from the trees thinking young people are spending to keep up with the Joneses. Maybe in your early years because you're literally learning. You can learn all the financial literacy you want. It's an action and a habit at the end of the day and you build on that through trial and error. The rest of the issue is primarily economic.
Student loans
Dude with the dreads gets it. It’s all a complete scamdemic.
KG Smooth ❤ #Ready to love
Dude was 100% correct we were more financially well off under trump 👍🏻👍🏻. I know I was better off under him then this clown administration we have now
Economic downturn doesn't happen overnight, Trump laid the ground work with those 2017 tax cuts for the rich (blowing a 1 trillion dollar a year hole in the deficit), gutting the EPA, and pandemic prevention/preparation programs.
"As it is in Heaven so it is on earth", these kids amassed crazy debt just like the giant financial institutions. Both assume government will bail them out. In 2007 Too Big To Fail policy was a huge mistake. Shielding unrepentant bad behavior from consequences, invites that behavior to return. Every parent knows this.
Why are people not protesting increases in rates, gas, housing, eggs??? Credit cards give the illusion of having money… wake the F#$% UP!
If your not working at least 60 hours a week there's a huge threat you'll live in poverty. You gotta work and work a lot. Get used to it.
One should try to pay off the whole credit card balance every month,and if you can't do that pay off half of it.
Young folks should invest in a Roth Ira and within that have etfs or index funds also don't forget term and whole life policies.
It's crazy to think that a gallon of gas cost around .75 cents in the late 90s but minimum wage on the federal level has only raised 2 dollars an hour, housing has doubled even tripled in some cases. It doesn't add up anymore.
Spend, spend, spend, Millennials cure for inflation. If the US can increase its debt to 41 Trillion, why not the Millennials too.
Job incomes have become stagnant, that's the real problem. You can't keep a job today for more than three years without trying to move somewhere else because inflation outweighs your pay raises
Happy to be part of Generation X not this stupid feeling entitled generation that came after.
YESSSSS in the ASSSSSSS 👍 reparations for the people
It's not a product of covid, it's the idiotic policies of the leftist democrats
Millennials can't even spell Millennial, but they all have 4K drones, everything Apple makes, and a arm of meaningless tats to help their insecurities
If people Learned to WORK together as Adult Couples and RESPECT one n other sharing the living Expenses Especially with CHILDREN Together. Women NEED To RESPECT A Man enough for him to Give a shxt to Have her Around in the same House…
Nonsense. It is their poor self control and feeling of entitlement. Everyone faced the economic downturn, Covid, interest rate increases, inflation, etc., not just young millennials. Also, what makes all these young people feel that the only way to go to school is by taking out loans and running up credit card debt. I worked my way through university education and also did not use debt to party on spring break or take a tour of Europe while at school, so when I graduated i had no debt and they could do the same. Bottom line is that i don’t feel any compassion for their debt problems.
Economy was better under Trump. Yes!