Our youth today are leaving college with more debt than ever. On average, college students leave school with about $20,000 in debt, thanks to student loans and credit card debt that they have racked up while in school. They then have to go get a job that will help them pay off that debt. Not that getting a job isn’t a bad thing, but unless you have the money to help you out through an internship, or something of that ilk, until you can start a job you love – you are getting any old job that will pay you.
The majority of your money is going to debt, plus now you have housing costs, insurance costs, all of those things that were covered under your parents’ umbrella while you were in school. Unless you’ve got a Daddy Warbucks stashed somewhere, you are settling for any job that you can get. You can’t afford to get a job doing necessarily what you want, as most of those jobs start too low for you to be able to afford to live. And forget about it if you got a graduate degree, you are now behind roughly $46,000.
So instead of getting the dream job, you get the job that pays. Then you send the majority of your money to the student loan people, then the credit card people, and all of the other ducks in a row. Then someday you wake up and you have finally paid off your debt, but it is 20 years later and it is too late to start a new career. ■
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