When I look at my student loan bills, my mind races with all the stuff I’d do to erase it. New data shows that most of you are in the same boat.
We Americans are pretty desperate to get out of debt, according to a new survey from Freedom Debt Relief. They asked 2,200 people what they’d do to erase their debt and the results are sadly appealing:
-13% of people said they’d give up their right to vote.
-Over 20% of people said they’d give up vacations for 10 years to get out of debt.
-Over 20% said they’d stop going out to eat for the next 10 years to get off the hook.
-But most people wouldn’t give up their sweet, sweet internet—only 5% would go offline to get rid of debt. Only 6% said they’d get rid of their phone to go debt-free.
-49% of Gen Z and Millennials said daily stuff like food and gas are the biggest part of their credit card debt. Remember, Gen Z is people aged 4 to 24 right now, so a lot of them are starting to open credit cards and other adult financial products.
I might get dragged by the more civic-minded folks out there for this, but I’d give up voting to get Navient off my back…and it seems like a lot of Gen Z feels the same way.
What about you? Drop us a line and give us your thoughts…