How Gen X Can Avoid Financial Trouble

What to do?

Educate yourself. Start reading about financial topics.

Note: If you're a woman, this is doubly important because you're likely to outlive your man.

3. Papa Don't Preach.

Gen X's experiences in the workforce are different than those of the Baby Boomer generation. They change jobs more often, and have had less experience with major financial downturns. Many came of age in the Go-Go '90s.

Gen X has a larger debt burden and less job security than previous generations.

On the other hand, Gen X has new advantages. Two of those are greater mobility, and a global marketplace to sell goods and services thanks to the Internet revolution.

The logical response on the financial front is to keep skills up-to-date, maintain solid work relationships and prepare for the unexpected.

In conclusion, Report Buyer says of Gen X:

"55 million GenXers are vigorously taking up the mantle of financial and familial responsibility, yet they continue to question authority, prize individuality, and believe that 'nobody will take care of me but me.' Still smarting from the wave of divorce and downsizing that characterized their formative years, GenXers put a high premium on quality of life."

In trouble? Maybe not -- if you start making changes to your financial life now.