Gen Y seeking financial independence1 of 7Obtaining financial independence is a rite of passage for 20-somethings.But a bleak economy and mounting debts are keeping many members of Generation Y stuck on their parents' payroll.Nearly 30 percent of Gen Yers say they've had a tough time managing their spending, more than 20 percent wait longer to pay their bills and 35 percent have borrowed money from friends or relatives, according to a recent Western Union survey of individuals ages 18 to 34.While experts say it might not be easy, 20-somethings can dig their way out of this economic hole by following these common sense tips on debt and saving. Related Articles:Paying down debt calculatorFree credit reports a reality4 smart ways to tame debt2010 money-saving tipsRelated Links:Why debt management?What debt to pay firstSilly borrowing behaviorsThe simple art of budgeting advertisement
Obtaining financial independence is a rite of passage for 20-somethings.
But a bleak economy and mounting debts are keeping many members of Generation Y stuck on their parents' payroll.
Nearly 30 percent of Gen Yers say they've had a tough time managing their spending, more than 20 percent wait longer to pay their bills and 35 percent have borrowed money from friends or relatives, according to a recent Western Union survey of individuals ages 18 to 34.
While experts say it might not be easy, 20-somethings can dig their way out of this economic hole by following these common sense tips on debt and saving.
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