A Must Read: Why Sudent Loan and Consumer Debt is a Crisis

If you think your debt isn't a crisis, think again.

The majority of American's live pay check to pay check. The vast majority of millenials and Gen Xers have massive debt and less than $1000 in savings accounts. Statistics show that most Gen Xers don't even have a retirement plan. As millenials we are faced with not only paying for our debts, but we will also be responsible for taking care of our parents when they can no longer work. What then? Our personal debt is a crisis and we should be treating it as a life or death situation.

As recent college grads, millenials entering the work force aren't making enough at a salaried job to even cover their student loan payments each month, putting the individual in a financial hardship. Statistics show that once many millenials pay their monthly student loan payment there's barely enough money left over for staples like rent, food, and transportation. This is an epidemic, and we need to start making moves to do something about it.