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70% of Millennials Are Living Paycheck to Paycheck: Survey:
Millennials' wallets are rather skimpy.
Seventy percent of the generation said they're living paycheck to paycheck, according to a survey by PYMNTS and LendingClub, which analyzed economic data and census-balanced surveys of over 28,000 Americans. It found that about 54% of Americans live paycheck to paycheck, but millennials had the biggest broke energy.
By contrast, 40% of baby boomers and seniors said they live paycheck to paycheck, the least of any generation. Living paycheck to paycheck reflects economic needs and wants just as much, if not more than, incomes or wealth levels, according to the report. Age and family status also factor in greatly. This explains why millennials, who turn ages 25 to 40 this year, are struggling.
[...] It doesn't help that millennials have faced one economic challenge after another since the oldest of them graduated into the dismal job market of the 2008 financial crisis. A dozen years later, many are still grappling with the lingering effects of The Great Recession, struggling to build wealth while trying to afford soaring costs for things like housing and healthcare and shouldering the lion's share of America's student-loan debt.
The pandemic threw yet another wrench into their plans by giving them their second recession and second housing crisis before the age of 40. The report acknowledges that the pandemic played a major role in that stretched thin feeling.
[...] It seems, then, that it's a combination of external economic circumstances, a precarious life stage, and some spending habits that are leaving millennials feeling strapped for cash.
(Score: -1, Flamebait) by Anonymous Coward on Wednesday September 29 2021, @06:07AM (7 children)
The real question is what the fuck did boomers do that was productive?
(Score: -1, Troll) by Anonymous Coward on Wednesday September 29 2021, @06:24AM (1 child)
Well,we tried to elect Bob Dole back in '96... woulda saved the country...
(Score: 0) by Anonymous Coward on Thursday September 30 2021, @04:21AM
Troll
I absolutely love watching you dumbass moderators waste your points. You sure are easy to trigger. C'mon! Show me some of that outrage!
(Score: 3, Touché) by Opportunist on Wednesday September 29 2021, @07:00AM (3 children)
Well... they produced Millenials...
(Score: 2) by DeathMonkey on Wednesday September 29 2021, @03:36PM (2 children)
I love how they were the ones handing out all those participation trophies that are now the root of all evil.
(Score: 0) by Anonymous Coward on Wednesday September 29 2021, @09:06PM
It was the boomers' idea to do that shit. Nobody over the age of 2 is fooled by a participation medal - what, you think kids don't know a piece of plastic handed to them out of a black trash bag is worthless? Yay I got a plastic trinket that doesn't do anything. The smart kids used them for target practice.
(Score: 2) by Opportunist on Thursday September 30 2021, @12:32AM
They handed out participation trophies because they didn't want to deal with their disappointed kids. So everyone's a winner, that way the kid doesn't sulk and cry and be a nuisance.
Don't expect that anything coming from a boomer isn't for their own benefit.
(Score: 0) by Anonymous Coward on Wednesday September 29 2021, @09:54PM
They probably created you or created the people that created you.
But I do agree that the creation of you wasn't very productive.