Better Money Habits® Survey Indicates Younger Americans are Delaying Milestones and Implementing Lifestyle Changes to Adapt to Today's Economic Realities
CHARLOTTE, N.C., July 10, 2024 /PRNewswire/ -- Today, 46% of Gen Zers (ages 18-27) rely on financial assistance from parents and family, according to new research from Bank of America America's Better Money Habits® financial education team. In addition, 52% of those surveyed said they don't make enough money to live the life they want and cite the cost of living as a top barrier to financial success. Many said they are delaying milestones and are not on track to buy a home (50%), save for retirement (46%), or start investing (40%) within the next five years – even though they are working toward those goals.
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