- Oct 22 2019
What are Millennials spending their money on every month, and how does it change as they age up? We break it down in three charts… It’s been two years since the infamous avocado toast remark…
- Sep 10 2019
Many young consumers are worried they’ll never reach their financial goals—and these are their biggest economic worries right now…
- Jun 25 2019
Gen Z and Millennials are in agreement: they’re worried about the future, and believe this is the biggest problem they face right now… Our recent survey on Gen Z and Millennials’ views on the country…
- Apr 24 2019
Do Millennials really have no savings? Here’s the truth about how much the generation has put aside—if anything at all—in two charts… Millennials’ financial woes make headlines regularly—and some of the claims are downright frightening.…
- Feb 26 2019
Teen spending is being modernized. When parents don’t carry cash, but their kids aren’t old enough for their own debit cards, fintech solutions are coming to the rescue… Let’s face it—Gen Z hasn’t grown up…
- Oct 16 2019
Student debt has grown to double the size of the U.S. housing market, making it clear why many Millennials have delayed homeownership.
Student debt has grown to double the size of the U.S. housing market, making it clear why many Millennials have delayed homeownership. According to realtor.com data, the total value of U.S. homes on the market is $780 billion, while outstanding student debt is $1.5 trillion. In other words, the “total student debt could buy every U.S. house on the market 1.9 times over.” Student debt is one of Gen Z and Millennials’ top financial concerns, and could even sway their votes in the upcoming election. (MPA)
- Oct 16 2019
So it shouldn’t be too big of a surprise that Gen Z could spend more on rent than any previous generation.
So it shouldn’t be too big of a surprise that Gen Z could spend more on rent than any previous generation. Zillow-owned site Hotpads analyzed government data to report that renters born in 2002 “can expect” to spend $226,000 on rent in their lifetime, which is about $24,000 more than Millennials, and $77,000 more than Gen X. They also predict that the generation will rent for an average of 11 years before buying a house—though of course, “there are a lot of unknowns about how the American economy will evolve over the coming decades as Generation Z grows into adulthood.” (PR Newswire, Forbes)
- Oct 15 2019
But some believe Millennial spending will shift soon, as they begin buying more big ticket items.
But some believe Millennial spending will shift soon, as they begin buying more big ticket items. According to the CEO of Smead Capital Management, the generation will trigger an economic “changeover point” as they shift their spending and buy houses and cars instead of “Apple devices, craft beer and Chipotle burritos.” Millennials were projected to outnumber Boomers as the largest living generation this year, and it’s true that their spending power is huge—but YPulse data shows that many could continue to delay those big ticket milestones. (CNBC)
- Oct 11 2019
Millennials are more likely than older generations to fall for digital scams, as scammers use their tech-dependence against them.
Millennials are more likely than older generations to fall for digital scams, as scammers use their tech-dependence against them. According to reports, Millennials are 77% more likely than those over 40 to report losing money in a scam that begins with an email, and twice as likely to report losing money shopping online. Scammers keep up with the times, and scams that convince consumers they need to pay to activate a new media player—like a smart speaker—are just one example of the latest tech-focused tricks being employed. (USA Today)
- Oct 08 2019
Even high-income Millennials think they’ll have to work forever.
Even high-income Millennials think they’ll have to work forever. According to a Spectrem Group study of high-income Millennials (with minimum annual incomes of $100,000 for single individuals and $150,000 for partnered respondents), 30-34-year-olds are the group most likely to believe they will have to work forever because they won’t be able to save enough to retire. This is the segment of the generation that graduated into the recession, and their experiences are reflected in their current finance fears. (Bloomberg)