Gen Z Less Optimistic About Financial Situation

By Staff Writer May 23, 2023

Nearly 70% of Gen Z and millennial consumers believe the current economic environment is hurting their ability to be financially independent adults and more than 1 in 4 don’t feel optimistic about their current financial situation, according to new research released by Experian. The recent economic news and layoffs, however, have spurred 75% of these consumers to focus on their financial health.

Experian’s survey of more than 2,000 millennial and Gen Z consumers across the United States revealed:

  • ‘better understanding personal finance’ is a goal for most consumers within both groups
  • nearly 4 in 5 (77%) are striving to be more financially literate
  • 75% stated they would feel more optimistic about their financial situation if they had a better understanding of personal finance
  • nearly 70% are actively searching for a trusted source for personal finance information.
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Last modified on Tuesday, 30 May 2023 09:33