Last updated on September 24th, 2024 at 01:28 pm
Last Updated on September 24, 2024 by
Millennials are disrupting the economy in ways that other generations thought impossible. They are buying houses in great numbers. Millennials are earning more and making a bigger impact on the overall economy. This article Best High Impact Financial Resources for Millennials in 2025 was created to aggregate a variety of articles written on this topic from several blog sites.
Listed below are articles that are focused on the financial activities of Millennials. While Generation Z is just behind the Millennials, our focus is on this group who are beginning to move into management positions and make a serious impact on political and economic decisions. The financial impact of this group is yet to be fully realized. These articles are original work, no bots here.
In essence, the articles as a group form a personal finance course of sorts. Our focus is on preparing the ground for future decisions. These articles do not for example discuss investment options or an investment portfolio. Perhaps at a later date but we believe that many Millennials need a good grasp of the basics first. The Millennial generation was not well counseled by their parent’s generation in personal financial management.
About the Author
A real estate broker, investor, mentor, blogger with decades of experience having actually been there and done that. bought first home at age 23
Some numbers to consider
The National Association of Realtors survey of buyers has found that the average first-time buyer is 33 years old and that 34% of buyers are first-time buyers (2021). Most Millennials have subprime credit scores compared to Baby Boomers. About 44% of Millennials own their own home.
Some of these numbers are good, it’s too bad that Millennials could not have purchased homes at younger ages. Credit issues are the biggest holdback. Poor credit skills have left Millennials a “financially challenged” group. We want to change that. Education is the answer and that’s the purpose of our series on Millennial Financial Resources.
The best way to become successful is to learn
The best way to become successful financially speaking is to learn. We will focus on Financial wellness and discuss your financial life and financial future. Set down your avocado toast and read on. Return to this article to click on more articles. Most of the articles will have links to other articles in the list. If you lose track come back to this page and use it as a checklist.
So you know in advance, these articles will not discuss climate change, the environmental impact of investing in coal, or stock market investments. The Best High Impact Financial Resources for Millennials in 2023 are those that build a solid foundation. We will introduce some ideas for the future such as creatinMillennial’sent account, spending habits, and financial decisions. Young people can benefit greatly from the years of expertise that have gone into the articles listed below. It’s a shortcut to success and financial health.
Some Statistics about Millennials’ Financial Lives
In a recent study, TransUnion a credit reporting agency found that 43% of Millennials have subprime credit scores. 20% of Baby Boomers have similar scores. The study uncovered a startling fact, 43% with subprime credit (bad credit) was not the most important finding. What was more important is such a large percentage are feeling the negative effects at such a young age.
46% of Millennials feel their credit score is holding them back. 27% say they can’t get a car loan and a full 26% of Millennials are being turned down for a loan or line of credit. 14% still live with roommates to make ends meet.
36% of Millennials who missed a credit card payment said they simply forgot about it or did not know how to pay. 24% said they had received minimal or no financial education. (some of the survey information was collected from OppLoans).
Let’s get your financial life under control
Did you know that bad credit stays on your report for up to seven years? It’s hard to fix real problems such as missed payments. It’s better to avoid issues by paying attention and learning more about what you can do to keep your credit record in good shape and your store headed for the clouds.
Life gets less complicated when you are in control. Often Millennials feel they are not in control as computers seem to take over. Starting now, promise yourself that you will become financially smart and that you will take charge. Let us help you with our Millennial Financial Resources Series.
Our series on Best High-Impact Financial Resources for Millennials 2025
Each article listed below can be accessed by clicking on the large bold title. Some titles may bring you back to this page when clicked because the article is not yet posted. We have listed the articles that are planned along with those that are complete. If you finish an article and click on a link to another in the article it will take you to that article or return you to this page for the same reason.
We intend to keep adding to our list of articles that can help Millennials achieve financial literacy. Please return. You can register to receive notifications when a new article is published.
Millennials are buying homes near the beach: Buy yours now
A wide-ranging discussion of how Millennials can buy houses. The article refutes the claims made by many that Millennials can not afford to buy a house in the 2023 economy. The proof is provided with actual examples. Included in the article are valuable tools such as a Debt-to-Income Calculator and a Mortgage Affordability Calculator. Videos show how to use each.
Bullet points explain what is necessary to prepare for the buying process. This article full of links to companion articles is where you should start. Even if you are not yet ready to buy a house, the article will help you check out your financial situation. You will also improve your financial knowledge in a great way through the important information included. As mentioned, it’s the first step in the process of financial literacy.
Budget Calculator and Planner: Millennials Need this Now
This is where you start the process of financial education by implementing some financial planning into your life. Starting with creating a budget, you will be looking at your financial stability now and forecasting for the future. The budget deals with your short-term financial life. Listing all of your expenses and income in our great budget tool, included in the article, you can draw some immediate conclusions.
The basic focus for all of the articles is to help you buy your first house and perhaps more later as investment properties. Before you can buy a house, you have to be prepared. At the point when you qualify to buy that house and follow up with a contract. You as they used to say, “have arrived”. Homeownership is the culmination of lots of planning and discipline.
Putting yourself in the position to buy a house and seeing its value grow while you are reducing the debt, is a great feeling. Watching your net worth grow over time is your reward. For most Millennials, buying a house is the first step to financial security. Learning money management skills discussed in this article will help move you to the next level which is creating retirement plans in the distant future. Younger generations are not focused on retirement generally speaking because they are focused on just getting by.
Use the budget calculator and planner tools in this article and then go to the next article in our series to round out your education. FYI, potential financial independence may be in your future.
23 Ways Millennials can improve their credit scores:2025
Three private businesses in the United States have created systems for recording how consumers use credit. These agencies are Experian, TransUnion, and Equifax. FICO is a private business that creates scores used by vendors to determine the amount of credit and interest rates consumers will pay on their loans.
You need to know what affects your score and do everything necessary to ensure the score is as high as possible before applying for a mortgage. This article goes into detail on this topic and should answer questions that you have and bring up some interesting points.
The Homeowners’ Insurance Puzzle Made Simple for Millennials 2025
Insurance is perhaps the most complicated part of financial education. Homeowner’s insurance is critical to a Millennial’s ability to own their own home. We call homeowner’s insurance a puzzle because it is. You are told that something is covered to find that there are exclusions and situations where it is not. How do Millennials understand what insurance they need?
This article includes a sample policy and homeowners inventory to help with future claims. We discuss the declaration page in detail through the process of selecting the right insurance agent. This very important article is part of our overall effort to bring some clarity to financial life for Millennials.
Credit Card Management
Credit cards are a great invention if you know how to use them. Many Millennials get into trouble with credit cards due in part to a lack of financial education. There is no need to cut up your cards if you have debt issues. The point is to learn how to use them responsibly. Having credit cards can help you buy a house and make life easier.
This article goes into various aspects of credit card management and how to use them to make money. No discussion of financial literacy can be complete without a discussion about credit cards and their place. Most people including Millennials know little about the actual “system” that supports credit cards and how to make it work for them. Our article should be a great help to those with credit cards and those who need credit cards.
Mortgage Insurance
Many loans available to Millennials are low-down payment loans. These loans supported by the government have rules that require an insurance policy when the down payment is less than 20%. There are two types of insurance and the article will discuss each one of them. Included will be the costs, purpose, and when and if they can be terminated.
Without these insurance policies, lenders would be reluctant to take on a first-time buyer with a brief credit history and an even shorter job history. Low down payments typically lead to buyers having little to no incentive to make payments on time. The insurance protects the lender and allows consumers to obtain low-down payment loans. Read more about this.
The Best Mortgage Loan Guide for Millennials: Start Now 2025
This process can be easy or difficult depending on the educational process that proceeds with the application. The purpose of this article is to help prepare you to go through this process. Not every Millennial can qualify for a home mortgage. The point is to learn through this and other articles in this series how to prepare long before you complete the application.
This article takes you through the entire process including preparation in advance of a first contact with a mortgage broker. We help you prepare so that the process will be smooth from the start. By being prepared, you have a better chance of being approved the first time.
We include tools similar to the other articles. An actual loan application you can download. A pre-mortgage checklist and more. Educate yourself, be prepared, and select the right loan officer. All of this is packed into this very thorough article.
Millennials: how to find your first house in 2025
If you think that you will apply for a government-supported loan through Fannie Mae or Freddie Mac, you will be required to take a course unless at least one buyer is a second-time buyer. This article will take you almost literally by the hand through the process from beginning to end.
You will learn how to find a great Realtor to work with, select a loan broker, and prepare to start looking for that dream home. Our bullet points and resources will help you avoid some common mistakes. We want to prepare you for that important day when you receive the keys. And, what comes after?
17 Things Millennials need now for their dream home
Buying your house is just the start. Before you move in, there are things to do. After you move there are more things to do. This article will save you time and grief by understanding what to do before you place that first item of furniture. If you have never owned a home before, we let you in on some secrets.
The best free mortgage costs calculator –
This article explains closing costs in detail including an embedded mortgage closing costs calculator. It’s a must-read to complete your financial education.
Topics for future articles:
The big stuff – If you need a new roof, foundation repairs, bad floors, you know things that keep you up at night. Time to discuss what to do for a better night’s sleep.
Selling your home – Millennials will eventually sell that first home. You need all of the help you can get to extract the highest value from your existing home.
Additional resources:
Financial literacy is at the core of our series. Millennials are out of high school but many children are still in school and could benefit from Financial Education. Click here for more on this topic. A topic that is not often explored and which you should understand is how corporate taxes affect you. Check out this article.
Authors Note:
More than one million four hundred thousand people have viewed answers that I have provided on Quora.com. This popular site permits people to ask questions and experts answer them. My answers are in the areas of finance, real estate, retirement, investments, and just living. These articles were inspired part due to the variety of questions that continue to come up from Millennials about all things financial.
In short, I have experienced most of what I write about. In the very few instances where I may not have had a personal experience, I call on someone who has. These articles are not “thin” they contain information and tools to help. No bots have written any of these articles.
Hint, more to come
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