Austin Bankruptcy Attorney Talks About Increasing Debt For Millennials And Gen Z

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Amy Wilburn, a bankruptcy attorney at Lincoln-Goldfinch Law, discusses the increase in debt among millennials and Gen Z and how they can manage their finances.

Lincoln-Goldfinch Law bankruptcy lawyer Amy Wilburn talks about the debt crisis Millennials and Gen Z are going through. In a recent interview with KRLD Radio Dallas, Amy enumerates the factors that cause this phenomenon.

According to Amy, one reason is the lack of saving culture and financial education. Some people fail to prepare for future situations, which leads to them borrowing money when the need for it arises. She also blames the price increase due to rising inflation as why the country is seeing more debt than ever. The higher cost of living makes it harder for anyone to stretch their budget.

To this end, Millennials and Gen Z are incurring more debt to procure what they need. A lot of them depend on credit cards to purchase mere necessities, which leads to a neverending debt cycle. Because of this, Amy stresses the importance of taking steps to help people avoid incurring a mountain of debt.

She shares several ways to do this, and one of them is to track one’s expenses. Amy encourages people to take a look at where they are spending by either writing them down or using apps to understand where their money goes. Amy talks about how she examines where she spends her money and where she stands in her finances. This way, she can determine unnecessary expenses and eliminate them.

Amy Wilburn is an Austin bankruptcy attorney at Lincoln-Goldfinch Law. She attended the Seattle University School of Law while working as a bankruptcy paralegal and got her law degree in 2014. Since then, Amy has been assisting people in navigating the often complex process of bankruptcy. With Lincoln-Goldlfinch Law, she continues to walk with clients as they go on their journey for a fresh financial start.

Lincoln-Goldfinch Law is an award-winning bankruptcy law firm in Texas. It is home to skilled attorneys dedicated to assisting individuals filing for bankruptcy. They have extensive experience dealing with bankruptcy cases, especially Chapter 7 and Chapter 13.

The firm understands that going through financial difficulties is not easy. Lincoln-Goldfinch Law and its team of bankruptcy lawyers in Austin cater to each client’s needs and help them navigate bankruptcy. They believe that everyone deserves a second chance, and they strive to assist every individual in getting a fresh financial start.

For any bankruptcy-related concerns, visit Lincoln-Goldfinch Law’s office at 1005 East 40th St., Austin, TX 78751, or call them at (855) 502-0555.