TNL Explains Why The Younger Generation Is Struggling With Money

May 20, 2019
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The Net Lender (TNL), a company that offers the best title loans California, recently issued a public advisory describing how Americans of all ages, especially the younger generations (including Gen X and Millennials), are struggling to get by financially.

According to a published article on CNBC, about 40% of Americans and 51% of millennials hold some kind of second job or part time gig to supplement their main source of income. A Stanford study also showed that the younger generations entering the workforce today are far less likely to earn more than their parents, when compared to children born two generations prior. While Americans born in the 1940s had a 92% chance at making more money than their parents, millennials born in the 1980s only have about a 50% chance of doing the same. In addition, independent research shows that the average millennial had about $36,000 in personal debt, excluding home mortgages, in 2018. In fact, around 60% of millennials with debt do not know when, or if, they will ever be able to pay off what they owe.

Another CNBC report also showed that, in California, the median price for a home is more than $540,000 and the median rent is nearly $3,000, which is about twice the national average of $218,000 and $1,695, respectively. In some of the state’s most popular cities, like San Francisco, home and rent prices increase dramatically—and it can cost more than $1.3M to buy a house and $4,500 to rent a house in the area. Moreover, a recent study by GOBankingRates found that Californians are also negatively impacted by the high cost of living in the area. In fact, the study showed that California is one of the states with the highest cost of living, and at least 26% of residents complain that their everyday cost of living is their biggest financial stressor.

The same problem is also prevalent all across the US, since the study notes that the number one cause of financial stress in the country is also everyday living costs, chosen by 32% of all respondents. In addition, nearly 30% of the respondents identified debt as a source of stress, followed by 13% who chose housing, 9% who chose health care, 7% who chose education, 6% who chose family, and only 4% who chose taxes.

As noted on TNL’s website, at https://www.thenetlender.com/no-inspections-get-a-title-loan-online/, the company understands that people are often not at fault for their financial difficulties. Those looking for fast cash in emergency situations, for instance, may seek help from TNL in exchange for auto titles for all types of vehicles, including cars, trucks, motorcycles, recreational vehicles, jet-skis, and boats. The amount of financial aid that TNL can offer an applicant ranges between $2,600 to $50,000, depending on the vehicle’s mileage, age, body, mechanical condition, and current resale value. A spokesperson from TNL stated that they strive to provide their clients with a fast and efficient process as well as create an easy repayment plan that works best with the latter’s financial standing.

TNL has been helping Californians quickly acquire the money they need for many years now, which is why the company continues to receive a number of positive reviews and recommendations online. This is also due in part to their fast and efficient financial services.

One of their satisfied clients, Jeremiah Lutes, said, “I am the head of the household and I know the pressure one can get from bills and discrepancies in their credit. I used the car I bought before I got married, and it turned out to be such a lifesaver for me. I took out about half of what TNL offered and wasn’t pressured any further. Thank you, TNL, and hopefully my car will be eligible again if need be.”

For complete details and a list of requirements needed prior to applying for aid, interested parties may check out TNL’s website, or submit an online inquiry form. Customers may also reach out to TNL by calling one of their many locations all across California. Furthermore, interested parties may check out TNL’s Press Advantage page to learn more about their latest news and important announcements.



SOURCE: Press Advantage [Link]

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The Net Lender goal is to help people get money in times of a financial emergency.

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