Five tips for teens to avoid debt

(BPT) - Back in the day, most people learned how to manage their money through the school of hard knocks. That’s still true. But today’s young people face much larger, higher-stakes financial decisions at a younger age than their elders.

For example, in 2018, the average college graduate faced $29,200 in student loan debt — the highest it’s ever been — according to a new report by the Institute for College Access & Success. And recent data from TransUnion shows that more than half of people ages 18 to 24 who have a credit card are carrying a balance on it.