As more and more millennials in Mississippi enter the workforce, move out of their parents’ homes and even start their own families, they are doing so with a very unique view of money and reality surrounding debt than did the generations before them. This group of people has come of age during the Great Recession and may still be struggling to figure out how to avoid serious personal financial troubles themselves.

According to data from Yellowbrick reported by CheatSheet, more than one-third of people under the age of 40 find themselves saddled with an average of $40,000 worth of debt in the form of student loans. Knowing that this age group also has an average salary of less than $35,000 per year, one must wonder how they can effectively make ends meet and stay on top of their bills.

An increased reliance on credit cards may well be part of how they are doing this. Millennial Magazine cautions young people against using plastic to fund their sometimes luxurious indulgences. An eye on creating good emergency reserves and retirement savings is important. Yet, this can be tough given the financial realities that millennials face.

Without sufficient income to both repay student loans and live, millennials sometimes have no choice but to look to credit. This may contribute to lower credit scores and put them at a higher risk of needing debt relief or even bankruptcy to get a fresh start. Basic things like buying a car or a house can feel out of reach for many if they do not have proper guidance along the way.