Why Technology Might Be The Saving Grace For Millennials When It Comes To Debt

Lifestyle/Personal Finance:

Photo Courtesy: www.apptentive.com

          Technology is changing so quickly today. Which could be an advantage for Millennials. After all, this is the generation that brought Baby Boomers and Generation X’ers Facebook. Now its up to the Millennials to figure out how to use their technological advances to their advantage. And that means making money.

When it comes to debt Millennials have to worry about their education undertaking more than anything. Going to school has never cost so much as it does today. As I mentioned in a previous post of Why College Today Is Like a Country Club, the cost to attend college and gain new perspectives and basic knowledge of the newest tech being released is considered astronomical today than it was even 10 years ago.

Technology today including developing of apps, new websites, interactive products like Amazons Fire Tablet or iPads, social media content is all in the hands of Millennials and the development is a dog fight for getting these things finished and out the quickest.

Now when it comes to making money Millennials need to steer these new products and advances toward figuring out their debt. Paying off debt is on just about every Millennials mind who is in college currently or already graduated. A Forbes article relayed how much Millennials think about their debt when they showcased how about 30% of Millennials surveyed said they would sell an organ to pay off debt.

That is extreme, which is why I am saying we need to harness this power of technology and use it to our advantage. The bubble of student loan debt could burst sooner rather than later and debt needs to be reconfigured to seem more

Photo Courtesy: truthdig.com

manageable. Something’s got to give which is when a tipping point could be seen. How will Millennials use tech to their advantage when it comes to making money? Maybe something like the San Francisco Chronicle’s article about companies agreeing to pay off their employees debt (In one instance mentioned in the article) for about 6 years that they are with the company.

The SFC article is on to something. Tech companies and tech start ups should start offering such programs. This will almost all but guarantee top talent if you agree to sign on to something like that. Company-wise it makes sense too. In the instance of paying off employee debt for 6 years will this will create longer term employees. It is a win-win. If Millennials ask for it they receive it.

Thincsocial.com

Photos: http://www.truthdig.com/images/cartoonuploads/cbe0603cd-college-debt-500.jpg

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