Three quarters of 18-25-year-olds find the “economic environment” is making it hard to save—and they’re looking for more ways to make money. According to a Bank of America survey, this age group “feel[s] inflation has made it harder to save for financial goals (59%) and pay down debt (43%) and has created more financial stress (56%) in their lives.” Plus, 40% say that their rent and mortgages (for the few who own) are so high that they can barely afford everyday necessities. But young adults are taking these financial challenges head-on: “75% of Gen Z are taking or considering steps to earn additional income including: changing jobs (34%), turning a passion into a source of income (31%), taking on a second job (26%) or even a job they don’t like (23%).” YPulse’s recent Personal Finance and Services report data shows that paying rent / monthly bills is Gen Z and Millennials biggest financial priority right now. (PR Newswire)
