Born between 1981 to 2000, Millennials now average 26 years of age, and comprise about 27% of the North American population. This generation is coming of age in precarious financial circumstances.
Their elders have led them poorly and allowed debt-sellers and other predatory business models to prey on the young. For a brighter future, we need to get the masses out of endless debt holes, and into some financial stability. We must focus policies on making education, job training and shelter options more affordable as well as on increasing savings rather than increasing debt. Older folks need the younger to get on solid footing so they can help pull the economic cart and help fund the entitlement programs that boomers are banking on.
This new documentary offers insight into the issues at hand.
Canadian consumer debt has been a popular topic in the News over the past few years. Because of this we know Canadians are carrying more debt than ever, driving up the debt-to-income ratio. But what else is happening that we aren’t seeing? Here is a direct video link.
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