With the student loan payment pause implemented by the US government in March 2020 reportedly coming to an end in early 2022, many millennials are looking for a plan that will empower them to start making their payments again. Jasmine McCall has that plan.

An income strategist, money makeover specialist, and wealth building guru, Jasmine believes millennials have everything they need to not only keep up financially, but to find true financial freedom. Her mission is to empower one million millennials to take control of their finances and step into home ownership, investing, and building generational wealth.

Speaking from her “Life with Jazzy Mac” YouTube channel, which has attracted more than 1 million views since launching in early 2020, she shares an encouraging and empowering message that is designed to help people get out of debt, restore their credit, and walk into their wealth.

The dark side of millennial finances

Student loan debt is a huge problem for millennials, keeping them from buying homes, starting families, and saving for retirement. Loan data shows that almost 15 million millennials have student loan debt, with the average balance being almost $40,000.

Low credit scores are another financial issue that is causing problems for many millennials. While reports show that the credit scores are on the rise, millennials are of the opinion that bad credit is holding them back. A recent survey revealed millennials blame bad credit for a wide range of financial limitations, including being locked out of the housing market and being rejected for loans, lines of credit, and new car financing.

When the burdens of heavy loans and bad credit combine, the pressure on millennials is compounded, leaving many with a general feeling of financial hopelessness.

A plan for fixing millennial finances

Jasmine’s advice on finances is not purely academic. She has personal experience, paying off more than $40,000 in credit card debt in six months. Through her informational videos and “Ultimate Credit Boost” kit she shares the system of money and credit management that brought financial security and economic stability to her life.

One of Jasmine’s most popular videos, which is more than 850,000 views, advises viewers to stop paying on collection accounts. For those who are not familiar with the term, collection accounts are created when a lender or creditor transfers delinquent accounts to a collection agency. This typically happens after the borrower falls behind on their payments by a few months. Jasmine says that most people continue to pay on collection accounts because they misunderstand how the accounts affect their credit scores.

“There is a very, very common misconception that if there are collection accounts on your credit report, paying them off will boost your credit score,” Jasmine explains. “I’m here to tell you that according to the credit reporting system, that is not how credit works.”

Jasmine further explains that any collection account on your record, regardless of the balance, has a negative impact on your credit score. Therefore, the appropriate action is not to pay it off, but to have it removed. And she knows how to get that done. Another popular video on Jasmine’s channel addresses how to write a dispute letter that will remove collection accounts from credit reports. It offers guidance on the best way to connect with agencies, how to approach “pay for deletions,” and how to make sure that your credit is repaired by all the credit bureaus.

Overall, Jasmine’s videos call attention to the fact that your credit score makes a difference in your financial health. Not only should you not ignore it, but you should not rest until you can increase it to the point where it becomes a financial ally.

“You always want to pull your credit report and know what is on there rather than assuming that everything on your report is accurate,” Jasmine says. “If you see anything the least bit suspicious on your report, you want to dispute it. And let me tell you that it is your right to dispute anything that you see on your credit report that you question.”

Filling the gap in financial education

The same survey that revealed the negative fallout caused by bad credit among millennials also revealed that many millennials feel they never received training on how to build good credit. If the feedback that Jasmine is receiving is to be believed, she is filling that gap.

Her viewers regularly thank her for taking the time to “explain the process,” to give “credible realistic advice,” and to provide “a place to start.” Many also thank Jasmine for giving them the education and encouragement in the area of finances that their families never provided.

One viewer who benefitting from Jasmine’s videos may have said it best when commenting: “Finally, someone who speaks for the people who are struggling.”