Money problems can easily lead to substantial stress. On the outside, some Louisiana residents may appear as if they do not have a care in the world, but really, they may be worried about their financial affairs. In particular, individuals in the millennial generation seem to be experiencing a considerable amount of financial stress and may need to look into debt relief.
A recent survey looked at nearly 2100 individuals, and of those participants, 670 were members of the millennial generation, or those aged 23 to 38. Of those millennials with mortgages, almost 50% indicated that they experience stress about their loans. Additionally, half of the millennials with car loans stated that they feel stressed about those payments. Credit card debt and student loans also contribute to their feelings of stress.
When it comes to their credit card debt, approximately 68% indicated that they have some or a lot of stress over those outstanding balances. It may come as no surprise that the majority of individuals in this age group consider financial success as being debt free rather than having considerable wealth. Unfortunately, numerous people in the millennial generation have not reached this type of success.
Struggling with debt can have more effects than many people realize. As this study shows, substantial stress can come from outstanding debts of all kinds, and if individuals do not know how to handle their balances, they may easily feel overwhelmed. Fortunately, Louisiana residents can look into a variety of debt relief options, including bankruptcy, they may be able to help them address at least some of their debt and see a less stressful future.