Americans Under 40 Figure Out Their Financial Future
saving-money | Read Time: 2 minutes
By WSFS Contributor | Published: February 2021
According to a WSFS Bank Study of Millennials and Gen Z consumers, 65% of respondents describe their overall financial situation as either “good” or “excellent,” and nearly six in 10 (58%) are optimistic that they’ll achieve their financial goals one day.
While respondents remain optimistic when it comes to their finances, 43% said they frequently have trouble paying everyday living expenses, with 19% saying it happens to them “constantly.” Check out the infographic below to learn more about the study’s key findings.
It’s no secret Millennial and Gen Z consumers have faced their fair share of adversity from financial crises as they matured from adolescence into adulthood. And while every generation faces financial setbacks, these adverse events have had a profound impact on these younger Americans, affecting their habits and leaving some common goals feeling out of reach, according to a new study from WSFS Bank of 2,005 Americans between ages 18-40.Read More
By definition, confidence is “a feeling or consciousness of one's powers or of reliance on one's circumstances.” People tend to exhibit confidence in their own abilities based on many factors, including knowledge and experience. Sometimes confidence is felt and observed in the moment, while at others it is seen over time through positive results.Read More
Months into the pandemic, we continue to see many aspects of our lives transform at an accelerated pace. Banking is no stranger to the digital frontier. By 2006, 80 percent of U.S. banks offered online banking, in turn enabling digital banking to evolve and secure itself as a simple, safe and convenient avenue for customers to complete their financial tasks and reach their monetary goals.Read More