A growing number of millennials and Gen Z are reporting feeling financially strained. This sentiment stems from a complex interplay of economic factors. One significant contributor is the soaring cost of housing, making homeownership increasingly unattainable for many in these generations.
Inflation continues to be a persistent challenge, impacting the price of essential goods and services. From groceries to transportation, everyday expenses are rising, leaving less disposable income for savings and investments. This financial pressure can lead to increased stress and difficulty in achieving long-term financial goals.
Experts suggest that addressing these challenges requires a multi-faceted approach. This includes policies aimed at increasing affordable housing options, controlling inflation, and providing financial literacy resources to help young adults manage their money effectively. Understanding the unique financial pressures faced by millennials and Gen Z is crucial for developing effective solutions.
Millennials and Gen Z Face Financial Struggles: What's Happening?
Many millennials and Gen Z individuals feel they are struggling financially. Rising costs for housing and everyday goods are major factors. Persistent inflation also erodes their purchasing power, making it harder to save and invest. Experts say understanding these pressures is key to finding solutions.
Source: Read the original article at CBS