Knowledge Center

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.


Americans Under 40 Figure Out Their Financial Future

 

Despite Financial Optimism, Common Monetary Goals Feel Out of Reach for Millennials and Gen Zers

Despite Financial Optimism, Common Monetary Goals Feel Out of Reach for Millennials and Gen Zers

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
How To Adjust Your Budget During COVID

How To Adjust Your Budget and Save More During COVID

One of the keys to building a successful budget is to continually reevaluate your income and variable expenses, accounting for any needed adjustments.

Read More
How To Budget for 2021…and Beyond

How To Budget for 2021…and Beyond with Financial Confidence

The New Year is a great time for a fresh start, and there is no better way to get that start than by setting yourself up for financial success in 2021 and beyond.

Read More
Money Management — Simple Steps to Take Charge of Your Finances

Money Management – Simple Steps to Take Charge of Your Finances

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
Easy Ways for Consumers to Simplify Their Banking and Go Digital

Easy Ways for Consumers to Simplify Their Banking and Go Digital

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