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Macrotrends

The FUND-amentals

... take a few months off) rather than planning to have money for a long-term period of retirement.More than one in five employed Ys (21%) are living paycheck-to-paycheck, with those in the U.S. (26%) being especially likely to do so, meaning that they aren’t growing their savings and also aren’t growing their debt through spending beyond their means. According to the Federal Reserve, the number of Americans under age 35 who have credit card debt is at the lowest level since 1989. Ys are shying away ...

Dollars And Sense

... Feedback Loop), they want ongoing banking assistance that’s not only instantaneous but also personal. Just as retailers have embraced contemporary customer service with features like on-demand chats, so, too, does the financial industry need to update the ways in which consumers connect with representatives and experts. Mint helps me keep track of my finances. It has a great set-up and allows me to see everything from my debt to my credit card balances, and allows me to set financial goals. Venmo is ...

No Money, More Problems

... Young people today are burdened by debt, overwhelmed by rising costs, and uncertain of their fiscal futures, creating a cycle of financial burnout that's difficult for them to get out of.To today’s youth, who came of age during the Great Recession and are still struggling to play catch-up, money can be a major source of stress. But while financial issues can be stressful across the board, the strain manifests itself in different ways for Ys and Zs. About one in four youth in the U.S. and one in ...

The Retail & Spending Perspective

... them to get ahead financially. Millennials haven’t forgotten those times—indeed, many of them are still paying off their college debt—and as a result they are more likely than other generations to be concerned about the economy (with 92% being worried) and taking action to protect themselves (with 82% having already taken steps).This is compounded as Gen Zs are living up to their pragmatic and cautious nature when it comes to finances; 81% already feel they need to start putting money ...

A Defining Moment

... “caught up” on the things they may not have had time for previously, as well as erase some of their “media debt” by getting to the shows that are in their queue. We also see that some will embrace the ability to "renew" and rewatch entertainment that they know sparks certain moods for them to help them cope emotionally, while others anticipate that contentless content will continue to provide a much-needed mental or emotional break. Youth talk about streaming shows, reconnecting with family and ...

Feel The Burn: Understanding Modern Burnout

... -indebted generation, who owe a whopping $1.6 trillion in student loan debt. Competition for limited job opportunities, the rising cost of living/education, the always-on aspect of modern communication, and the fact that work productivity has grown at a rate six times faster than salary growth have created a work environment in which this generation of overachievers is bound to burnout. And their feeling is only exacerbated by this cohort’s tendency to associate their work with their identities and to ...

Off-Roading

... , and get rich doing so. Entrepreneurship has been the quickest way we’ve found to meet those requirements. Granted, the majority of us are still waiting for that last part to kick in.JEREMY, 21Ys are not the first generation to confront unexpected economic hardship. Before them, Gen Xers likewise graduated into a debilitating recession era. However, Xers were stalled by their circumstances. Faced with few job prospects, disillusioned by politics, and struggling under debt, they had few options or ...

Where There's A Will, There's Away

... finance trips, but they're also taking on things that make travel more attainable, such as a choosing a job where they get to travel for work or have flexibility to travel often for pleasure, engaging in side hustles, or going into debt. As modern young adults see it, Where There's A Will, There's Away. It's critical for every brand to understand the role of travel in young people's lives as their focus on this sector is greatly impacting their interactions with companies and purchases across all ...

Money Talks

... Young adults work to maintain financial identities and habits as individuals in relationships and strive to be transparent about money with their partners. Having lived through a recession and coming of age saddled with student loan debt, money has become a central concern for Generations Y and Z around the world as they grow into adulthood. Even their romantic relationships aren’t immune to the influence of their entrenched financial footprints, spending habits, and attitudes about money. Not ...