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Financial Planning for Millennials

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#CreditChat Wednesdays | 3 p.m. ET Financial Planning for Millennials


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Join our #CreditChat every Wednesday at 3 p.m. ET. This week, the community shared some key money tips for millennials. ex.pn/millennials


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#CreditChat Wednesdays | 3 p.m. ET What financial struggles do millennials face?


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Many millennials are having Many millennials are having difficulties finding jobs after difficulties finding jobs after college, especially ones that can college, especially ones that can pay the bills. pay the bills. “ ” Southeast Financial @SFCUNews #CreditChat Wednesdays | 3 p.m. ET


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Financial struggles: Student loan debt, low wages, and an uneven job market. However, student loan debt is the most crippling. CARE @care4yourfuture #CreditChat Wednesdays | 3 p.m. ET


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A couple of items millennials struggle with are student loans and saving. Some don’t realize how good a rainy day fund is. More Than Wheels @MoreThanWheels #CreditChat Wednesdays | 3 p.m. ET


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The average millennial student loan debt was quoted at $33k. This is a huge impediment for a person just starting out. Kelby @TheFRUGALennial #CreditChat Wednesdays | 3 p.m. ET


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#CreditChat Wednesdays | 3 p.m. ET What should millennials know about budgeting?


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Just do it! If you miss a payment for a bill, or rack up too much debt, your credit score will reflect immediately. Compare Cards @CompareCards #CreditChat Wednesdays | 3 p.m. ET


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It is the key to future financial success. You must sit down and write out your monthly income and your expenses. CARE @care4yourfuture #CreditChat Wednesdays | 3 p.m. ET


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Budgeting is your roadmap to a solid financial future. Budgeting could A good budget nowis your roadmap to a solid financial open a ton offinancial future. A good doorsbudget now could open a ton of down the road! “ financial doors down the road! Leslie H. Tayne, Esq @LeslieHTayneEsq ” #CreditChat Wednesdays | 3 p.m. ET


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There are a lot of free tech tools, sites, and apps millennials can use to help them budget - and make it fun! Brad Sherman @shermanwealth #CreditChat Wednesdays | 3 p.m. ET


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Start saving today for the funds you’ll need tomorrow - like money for a down payment. Richmond American @RAHomes #CreditChat Wednesdays | 3 p.m. ET


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Budgeting can be a great way to get to know your individual spending habits and the places where you could cut back. Vouch @vouch #CreditChat Wednesdays | 3 p.m. ET


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#CreditChat Wednesdays | 3 p.m. ET What should millennials know about debt?


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Knock it out now because there is no later. Only defer or forbear if necessary. Interest is no fun. #CreditChat Jazmyn Anderson @GoldLabl Wednesdays | 3 p.m. ET


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Understand the difference between taking on manageable and unmanageable debt. Leslie H. Tayne, Esq @LeslieHTayneEsq #CreditChat Wednesdays | 3 p.m. ET


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You can’t just pay the minimum payment each month. You’ll be stuck forever! NextGenPF @NextGenPF #CreditChat Wednesdays | 3 p.m. ET


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Debt has a way of snowballing. Charging a little here and a little there can add up quickly if you aren’t careful. Cinfed Credit Union @CinfedCU #CreditChat Wednesdays | 3 p.m. ET


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There are ways to refinance or consolidate student loans and other debt that can lower your interest rate. Brad Sherman @shermanwealth #CreditChat Wednesdays | 3 p.m. ET


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#CreditChat Wednesdays | 3 p.m. ET What should millennials know about credit?


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Picking up good credit habits now will help make it MUCH easier to finance that big purchase in the future. Leslie H. Tayne, Esq @LeslieHTayneEsq #CreditChat Wednesdays | 3 p.m. ET


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When it comes to credit, know what you are getting into ahead of time. Understand the terms. Have a repayment plan in place. Cheapsters @Cheapsters #CreditChat Wednesdays | 3 p.m. ET


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It is your financial reputation. Don’t destroy it. Debbi King @DebbiKing #CreditChat Wednesdays | 3 p.m. ET


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Credit MUST be treated importantly. It is a key factor in getting an apartment or home, car loans, jobs, and etc. CARE @care4yourfuture #CreditChat Wednesdays | 3 p.m. ET


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Know what’s in your credit report. You can’t act until you know what’s there. Rod Griffin @Rod_Griffin #CreditChat Wednesdays | 3 p.m. ET


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#CreditChat Wednesdays | 3 p.m. ET How can millennials be smart with their student loans?


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Don’t ignore it. Look at how much you owe, interest rates, repayment plans. Have a plan! Cheapsters @Cheapsters #CreditChat Wednesdays | 3 p.m. ET


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First, be aware of how much of a student loan you really need and don’t borrow one penny more. #CreditChat Brad Sherman @shermanwealth Wednesdays | 3 p.m. ET


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Consolidate loan debt. Do not be late, this debt is NEVER forgiven even in a bankruptcy, so you have to remain current on it. Cary Carbonaro, CFP @CaryCarbonaro #CreditChat Wednesdays | 3 p.m. ET


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Pay off the highest interest loans first. The loan(s) with the higher interest rate(s) is costing you more money. #CreditChat CARE @care4yourfuture Wednesdays | 3 p.m. ET


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Take full advantage of available scholarships and grants before exploring student loans. Vouch @vouch #CreditChat Wednesdays | 3 p.m. ET


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#CreditChat Wednesdays | 3 p.m. ET How can millennials start saving for retirement?


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Don’t wait! Sign up for your company’s 401k plan ASAP! Compare Cards @CompareCards #CreditChat Wednesdays | 3 p.m. ET


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Speak with experienced financial planners who can help you find a workable plan for your situation and goals. Brad Sherman @shermanwealth #CreditChat Wednesdays | 3 p.m. ET


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It starts with budgeting. Figure out how much you need for your essential expenses and budget a small amount to save for retirement. A small amount can go a LONG way; the beauty of compound interest. #CreditChat Kelby @TheFRUGALennial Wednesdays | 3 p.m. ET


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Pay yourself first. If it’s gone right when you get your check, you won’t miss it. Kasasa @Kasasa #CreditChat Wednesdays | 3 p.m. ET


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Saving for retirement can be easy the earlier you start. Start saving now. #CreditChat More Than Wheels @MoreThanWheels Wednesdays | 3 p.m. ET


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#CreditChat Wednesdays | 3 p.m. ET What goals should millennials set to help them financially successful?


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Your goals are yours to make. Common millennial goals = paying off loans, cash reserve, wedding/ring, house, family, etc. Douglas A. Boneparth @dougboneparth #CreditChat Wednesdays | 3 p.m. ET


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$100 per month from 25-65 yields you approximately $1.7 million in growth stock mutual funds. Start there. Debbi King @DebbiKing #CreditChat Wednesdays | 3 p.m. ET


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Avoid the temptation of what you see on social media. Budget, live within your means, and stay the course. Kelby @TheFRUGALennial #CreditChat Wednesdays | 3 p.m. ET


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Minimize debt, maximize savings. Leslie H. Tayne, Esq @LeslieHTayneEsq #CreditChat Wednesdays | 3 p.m. ET


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Pay off debt, have a great credit score, have an emergency fund, invest, and be able to have fun and enjoy the ride! #CreditChat Cary Carbonaro, CFP @CaryCarbonaro Wednesdays | 3 p.m. ET


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#CreditChat Wednesdays | 3 p.m. ET Where can millennials go to learn more about money and finances?


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The Internet is a good place to start! So are local credit unions and banks. Kasasa @Kasasa #CreditChat Wednesdays | 3 p.m. ET


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“ Millennials can learn about finances Millennials can learn about more. from blogs, books, courses, and finances from blogs, books, courses, and more. More Than Wheels @MoreThanWheels ” #CreditChat Wednesdays | 3 p.m. ET


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A good financial planner is a great first step to help you understand the many options available to you. Brad Sherman @shermanwealth #CreditChat Wednesdays | 3 p.m. ET


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Talk to your parents and successful peers - experience is the best teacher, learn from it! Compare Cards @CompareCards #CreditChat Wednesdays | 3 p.m. ET


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Best ways are to speak with a financial planner. Money Magazine and Kiplinger are great resources. #CreditChat CARE @care4yourfuture Wednesdays | 3 p.m. ET


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#CreditChat Wednesdays | 3 p.m. ET What’s your number one financial tip for millennials?


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A budget gives you the control to tell your money where to go instead of wondering where it went. Joe Koss @AlohaDebtFree #CreditChat Wednesdays | 3 p.m. ET


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Number one tip: Do your Number one tip: Do your research! research! Education is an Education is an investment in yourself. investment in yourself. “ Vouch @vouch ” #CreditChat Wednesdays | 3 p.m. ET


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Save money in as many ways as you can know. Live below your means so you can live more richly in the future. CARE @care4yourfuture #CreditChat Wednesdays | 3 p.m. ET


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Don’t panic. Most of us started off in the same position as you. Getting financially fit takes patience, time, and knowledge. Leslie H. Tayne, Esq @LeslieHTayneEsq #CreditChat Wednesdays | 3 p.m. ET


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It’s never too early to save for retirement! Put at least enough in your 401k to get the employer match - it’s free money. #CreditChat Starting Out Kiplinger @SOKiplinger Wednesdays | 3 p.m. ET


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