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The Under 20-Something Crowd – Too YOLO to Save [Infographic]

Do you know any broke 20-something year-olds? The combination of YOLO (you only live once) lifestyle and heavy debt load is crippling this generation’s financial health. The average student debt load stands at a staggering $29,337. As a result, one in five adults under 30 are living in their parents’ home, and 43 percent earn less than $25,000. The hard reality is that many of these under 30-year-olds are living YOLO lifestyles in which bar hopping is preferred over saving. Over half of all adults under 30 admit they know very little about how to manage their finances.

They could start by spending less than they make and contributing to their 401(k). Going out and drinking less—and instead stashing that money away into a savings account would do them quite well.

If you are a broke 20-something year old or know one, take a look at the infographic below for some valuable savings tips.

Adults Under 30 Are Broke...But Optimistic

 

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Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency , based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, hosts the Next Action Podcast, and has been named a Google Small Business Advisor for 2016-2018. Follow Brian Wallace on LinkedIn as well as Twitter.

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