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    August 18, 2008
    Young People Seeing Financial Problems

    Young people are seeing an increase in financial problems, reports a news survey. According to a post on Money Talks, the report, done by Qvisory, points this out:

    The report says young people are "struggling to get by, day-to-day, and
    putting their long-term plans on hold. At a time in their lives when
    they should be building better for their future, the rising cost of
    living combined with the debt they are carrying and makes paying bills
    and making ends meet a source of stress and struggle."

    This is an interesting report that mixes the financial struggles of young people with the current economy. Some of the issues that I think are probably causing problems for young people and their finances include:

    * Increased cost of higher education leading to more student loan debt.
    * Bum economy creating difficulty in terms of getting a good paying job.
    * Credit card debt is rather high.

    Some of the future plans that young people, I think, are likely to "put on hold" due to their financial problems probably include:

    * Buying a home.
    * Getting married.
    * Finishing school.
    * Having children.

    Can you think of any other consequences for young people with regard to their financial problems?

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