Millennials of the world, prepare to feel incredibly sorry for yourselves mid-selfie. Despite falling victim to crippling student debt, millenials are making sh*t for money. A recent study shows the insanely low net worth of the average millennial, and to say it isn’t pretty would be a serious understatement.
A recent study conducted by The College Investor and published by TIME revealed that millennials looking to do better than the average person should aim to have at least $10,400 to their name. So, that’s upsetting. Especially considering the average graduate has $30,000 in student loans. FML.
Elite Daily explains,
The formulas used to calculate the average net worth of millennials included the average salary, debt and savings rates most millennials have in common.
For example, if the average Class of 2016 college student is saddled with at least $37,170 in debt, most of their $51,000 annual salary will likely disappear sooner than they think, making living conditions even scarier.
The study also states the average net worth of millennials ages 35 to 18 is $20,000 and -$8,800 respectively.
There’s nothing I like more than getting a negative check. At least you can rest assured knowing you’re not the only person living off of pretzels and cheese — we’re all broke! Let’s celebrate (cheaply)!