Posted August 9, 2021 by Mark Perna
Episode Title: Dealing with Money Regrets
The average student debt in America today is $37,000 per borrower—and it affects more than just their finances. Let’s talk about it, coming up next on The Perna Syndicate.
Ep 261 show:
Hello and welcome to a new week on The Perna Syndicate! I’m your host, Mark Perna, and this week I want to talk money. Millennials in particular have their share of money regrets, including credit card debt, lack of financial planning and of course, the big one: college debt. The national average for educational debt sits around $37,000 per borrower today.
College debt affects more than just your financial outlook. A recent study found that 27% of respondents said their student loans made career changes difficult, especially those owing $51,000 or more. Three in 10 say their educational debt makes it harder to take a career risk, a number that rises to almost 5 in 10 among those owing $51,000 or more.
Of course, it’s not just young people who could benefit from a little extra awareness in the area of personal finance. Most people regret a financial decision in their past and could use money management tips for different life events, like buying a home, preparing for kids, paying taxes, planning for retirement, and more.
I’m no financial wizard, but I’ve learned some good strategies along the way to make better choices with my money. This week, I’m going to share the top personal finance tips that Ryan McPherson, Director of Coaching at SmartPath, recently shared with me.
Whether you’re dealing with debt or planning for the future, these basic principles can help all of us be smarter with money. We all have money regrets, but they don’t have to define our future.
Tomorrow, what’s the very first step toward financial health—and how can we help young people master it? We’ll talk about it on tomorrow’s episode of The Perna Syndicate. See you then!