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Financial stress is one of the top things impacting Gen Z and Millennials’ mental health.

Nov 18 2021

Financial stress is one of the top things impacting Gen Z and Millennials’ mental health. YPulse’s State of Mind trend research shows that 22% of Gen Z and 44% of Millennials say financial issues stemming from COVID have most affected their mental health. And while some are starting to feel better about their personal finances, their financial futures still cause a great deal of worry for these gens as inflation and housing costs continue rising. According to the Deloitte Millennial Survey, two-thirds of both Gen Z and Millennials listed their financial future as a significant source of worry, and our research shows that 66% of 18-39-year-olds are actively looking for an additional source of income to help get through this time. Young people are significantly impacted by financial anxiety and stress “because of the world we are living in right now,” says Israa Nasir, a mental health counselor in NYC. “Uncertainty brought up by the pandemic, student debt, and rising housing prices can add a layer of stress to an already stressful juncture of life.” So, as Gen Z and Millennials continue navigating financial uncertainty in their personal lives, they’re finding ways to educate themselves while turning to their parents for financial advice. (Teen Vogue)