Sixty-five percent of millennials and Gen Zers are worried about baby boomers’ impact on their financial future, according to new research.
A survey of 2,000 U.S. adults evenly split by generation looked at the differences between their financial experiences and found that although younger generations are worried about older ones, bad money habits are common across the board.Even though respondents have some good habits, most admit they make poor money decisions sometimes .
A survey found that the most important financial lesson that Gen Z and millennials have learned as they’ve aged is how to effectively manage and reduce debt.While millennials were found to take the most responsibility for their habits , a majority of them who are facing financial difficulties believe they’re consequences of baby boomers’ financial decisions .
Millennials also report having the most information about how to create good financial habits and using it , while boomers say they need more .Just 27% rate their money-saving habits as “excellent.”Nearly a quarter of all respondents feel like they need better knowledge about how to develop good financial habits , which may be why 37% look up to industry professionals and 26% listen to podcasts or radio shows.
Although they offer good advice, younger generations expressed concern about paying for others’ mistakes in the future.
France Dernières Nouvelles, France Actualités
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