Nearly half of Gen Z are living paycheck to paycheck. According to new data from Bank of America, 49% of 18-29-year-olds say the high cost of living is the top barrier to their financial success, and 42% are living paycheck to paycheck. In turn, nearly half (41%) of Gen Z experience financial guilt at least once a week, while another 40% look to their friends and family for validation before buying something. Still, young people are doing what they can to stay financially responsible—and it’s showing up in their social and romantic lives. The survey shows that 75% of Gen Z takes active steps to save money when making social plans, like dinners and nights out, while more than half (51%) spend no money on romantic dates each month. They’re also cutting back on eating out, skipping pricey events with friends, and adopting side hustles to stay afloat. (Bank of America)
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