Having lots of debt at a young age 'is the new normal.'
Millennials carry an average of $27,900 in debt, not including mortgages, according to new data released today byHaving sizable debt at a young age"is the new normal," said Chantel Bonneau, wealth management advisor at."There are lots of people who exit school, and before they start their first job, have debt. That is a different situation from 30 years ago."poll
About 45% of millennials and 43% of Gen Z reported feeling guilty about their debt at least every month — more than other age groups. But debt is a major stressor across age groups. One-fifth of all respondents said their debt made them physically ill at least monthly, 45% said it made them anxious at least monthly, and 35% said they felt guilty once a month or more.
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