Tag: credit card debt

Americans have already forgotten the lessons of the Great Recession, judging by the Consumer Financial Literacy survey. When the recession began, 57 percent of Americans were spending less money than the year before. By 2014, this had dropped to 29 percent. Sixty-one percent don't have a budget, 16 percent retire without enough savings, and 16 percent have no emergency savings. Before you find yourself in a financial emergency, make sure you're not making any of these common mistakes that could kill your finances.

Millennials get plenty of recognition for frugality and their desire to share everything from cars to clothes, but they also have the lowest average credit score of any generation, according to a new study.

The average millennial credit score is 625, and 28 percent of them are ranked below 579, says NerdWallet, a personal finance website. In the world of credit scores, anything above 660 (out of 850) is considered good.