It’s no secret that millennials are experiencing debt unlike any generation before. They carry an average of $47,689 in debt, and student loans, mortgages, auto loans and credit cards are some of the culprits.
To explore this, we connected with four millennials from The Cooperative Trust’s Crasher group at CUNA’s Governmental Affairs Conference (GAC) earlier this year. We asked them to tell us, firsthand, what their top financial priorities are. We also captured it on video.
Their feedback demonstrates a valuable point: Millennials have different financial priorities depending on their current life stages.
- Some are saving to buy their first home, and others are trying to sell one.
- Many are unburying themselves from student loan debt while others are still pursuing degrees.
- Some are single, childless and living at home; and, many more are married with children.
The good news is credit unions can understand and align with millennials’ wants and needs through any of these life stages. To learn more about millennials and their hopes, worries and priorities, check out our blog post on Four Things Credit Unions Should Know About Millennials. See them in tweets via #MillennialPOV. Or, visit our What Matters Now webpage.
How well do you understand the millennial point of view?