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5 debt and saving tips for 20-somethings

Gen Y seeking financial independence
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Gen Y seeking financial independence

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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