Check out these three videos where Erin Lowry from Broke Millennial joins us to debunk some common myths about credit, talks about getting “financially naked” with your partner, and explains when millennials are buying homes.
Debunking Credit Myths
One of the most common myths Erin hears is that you should not pay your credit card bill in full; this is false. Here are Erin’s tips on common credit misconceptions.
Watch to learn about:
- Pay off your credit bill every month in full
- Don’t use more than 30% of your total available credit limit
- Where your credit score comes from
- Understanding and looking at your credit report
- Keeping an eye out for identity theft on your credit report
Getting “Financially Naked”
In terms of finances and relationships, it is important to be 100% real with your partner, especially if you are considering merging your accounts together. Erin gives concise advice on how to go about having the finance talk.
This video covers:
- Money causes tension in relationships
- Don’t avoid the money talk
- Continue to talk about money with each other
- Look at each other’s credit reports
- Be completely honest about money habits and debt
Tips for Home Buying
Millennials are now starting to buy homes, but not all of them. It is geographically and economically centralized. Erin shares her observations on the generation’s trend.
This video covers:
- Millennial home buying is a new trend in smaller cities
- This generation is starting to look for next steps, like starting families
- People in urban environments may want to still move around
- Home buying programs
Erin Lowry from Broke Millennial is an author, blogger and speaker. She recently wrote Broke Millennial: Stop Scraping By and Get Your Financial Life Together in which she offers tips to financial success and covers personal finance topics that a lot of millennials are curious about or struggling with.
Stay tuned for more Experian videos at this year’s FinCon 2017 with industry professionals.
Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, or other company, and have not been reviewed, approved or otherwise endorsed by any of these entities. All information, including rates and fees, are accurate as of the date of publication.