Data from the National Financial Capability Study reveals two-thirds of millennials (aged 23-35 in 2012) have at least one source of long term debt—student loans, home mortgages, or car payments. Thirty percent (30%) have more than one of these obligations. Their debt does not stop there. For millennials short term debt is also a burden. Over fifty percent (50%) carry a credit card balance while 22% have been hit with late fees and 13% have been charged with over-the-limit fees. In addition bank overdrafts are prevalent (29%) and almost one in four (22%) of retirement account owners took hardship withdrawals in the last twelve months prior to the survey. Quite simply this generation owes a lot and could certainly use a bit of financial counseling.