Financial News Features

The single biggest mistake I've seen repeatedly in 20 years can be summed up like this: believing ridiculous get-rich-quick schemes and doubting legitimate get-out-of-debt programs.

Howard Dvorkin, CPA and chairman of Debt.com, believes there’s something inherently wrong with the student loan process. “You can still be a teenager and owe tens of thousands of dollars – that’s ridiculous; rental car agencies won’t let you drive off the lot until you’re 25 because they don’t trust you with their expensive vehicle,” he says.

"Let's be honest, any debt is toxic to your love life," said Howard Dvorkin, CPA and Chairman of Debt.com. "I've counseled couples on their finances for more than two decades, and I've seen debt nearly destroy their relationships — especially when one partner has a lot and the other has little or none."

Summer is a time to cut loose and have fun. But, if you’re not careful, that fun can lead to overspending, failing to keep tabs on your finances and making money mistakes due to distractions.

“Ever heard of death by a thousand cuts? Some prepaid cards kill you with a long list of fees. Each by itself might be small, but add them up and they can kill you,” says Howard Dvorkin, founder of Debt.com. “Before you know it you’re out of $50.”

If you are a millennial, you can learn crucial information that will help pad your savings. Even in today’s challenging economy, millennials have the power to take control of the present and create a bright financial future.