Millennials, born between 1981 and ‘96, represent the largest, most educated and culturally diverse generation in American history. This demographic cohort holds significant sway over the future trajectory of the U.S. economy through their financial choices, which are being made within a progressively intricate financial environment. That’s the academic definition. Here’s mine: Millennials are financially jinxed, suffering from recession fatigue, attitudes of entitlement and a lack of financial education, but time is on their side.
Dear Cheapskate: My son graduated from college three years ago. He has a job, but he is struggling financially with student loans and credit card debt—and still living at home. I know with smarter choices he could pull himself out of this. He has asked his father and me for help. We want to be good parents and provide for him. At the same time, we also think that since he’s an adult, he must start caring for himself. Is there any compromise?—Debbie, Illinois
