A recent survey conducted by Acorns and Opinium Research has highlighted significant financial worries among Gen Z and millennials, with nearly a third expressing fear that their financial situation could lead to homelessness. The Acorns Money Matters Report, which surveyed 5,000 U.S. consumers from February 14th to 23rd found that 29% of Gen Z and 32% of millennials are concerned about this extreme outcome, a stark contrast to the older generations.
According to the survey, financial stress is not only about potential homelessness but also affects daily life enjoyment, with 33% of millennials and 28% of Gen Z reporting that financial concerns prevent them from enjoying life. Noah Kerner, CEO of Acorns, emphasized the emotional impact of financial insecurity, linking it to a lack of hope and confidence among younger adults.
The survey also shed light on broader financial anxieties affecting Americans across all age groups, with the cost of living and inflation being the primary stressors. Despite ongoing economic challenges, only 35% of respondents believe they will be more financially secure next year. Acorns continues to advocate for financial education and support, aiming to ease the financial anxieties that pervade many Americans’ lives.
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