Millennials, money and marriage: Why young people are waiting to tie the knot

Posted: July 29, 2014 in Uncategorized

New York's PIX11 / WPIX-TV

NEW YORK (PIX11) – The percentage of millennials getting married by age 40 will be much lower than in previous generations, a new study finds.

Reasons for the wedlock aversion are multi-layered, but experts say financial factors play a major role.

There’s no single explanation for the shift, but Lynnette Khalfani-Cox, aka “The Money Coach,” said the burden of student loans and credit card debt, coupled with the skyrocketing cost of weddings are just two of the reasons why millennials are waiting to wed.

“Unfortunately, college loans are sort of an ‘anti-dowry,’” Khalfani-Cox said. “Lots of people don’t want to seriously date and/or marry those with large student loans or poor credit.”

There is $1.2 billion in student loan debt outstanding in the U.S. and the average college grad leaves school with $33,000 in loans, so these young people who may otherwise be focusing on marriage are not focused on…

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