6个避免长期债务的小贴士.

Millennials born in the 1980s and 1990s entered the workforce during, 或之后不久, the largest economic downturn since the Great Depression. Many are straddled with crippling debt, including student loans. 学习 the steps millennials can take to avoid further debt and build savings.

Debt strategies for young people.

Six tips for building a savings plan and keeping your head above water:

知道你有多少债务.
Make a list of all your loans and their interest rates. Make minimal payments on all of them, but concentrate on paying off the ones with the highest interest rates or those with variable rates first. If you’re unemployed, you may be eligible to defer your loans for a period. It’s always better to ask the loan company about your options than to make assumptions or to default.

Avoid further debt by paying bills on time.
按时支付. This is a very important factor in maintaining a good credit score. It is especially crucial if you’re planning to purchase a home, 贷款买车, or apply for a small-business loan in the future.

创建一个应急基金.
After organizing your loan repayments, try to put aside a small amount every month for emergencies, 以防.

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Enroll in your company’s 401(k) plan.
If your company offers a 401(k) savings plan, enroll. Most employers match a percentage of your contribution. 这是一个双赢的局面.

早点开始存钱.
早存钱，常存钱. This gives you time to weather economic ups and downs and take advantage of compounded interest.

保护你所爱的人.
If you pass away, your loved ones may be responsible for paying off your debt. You can protect them by purchasing life insurance, which is considerably less expensive for younger buyers. And depending on the type of policy you purchase, you may be able to access your policy’s cash value to help with future expenses, 如买房子或者创业.¹