Millennials and Money

Everyone talks about young people’s love of tech. But what about their love of money?

Back in March, USA Today told the tale of a 28-year-old marketing employee named Jessica. She holds two college degrees, gets paid $50,000 a year, lives at home with her parents, and expects to die broke.

“Retirement?” she told USA Today. “Right now, it looks like a pipe dream. It’s like seeing a unicorn.”

But her debt is no mythical creature: $44,000 in student loans and $20,000 in credit card balances. She has only $4,000 in savings and a broken-down car. Is this Jessica’s fault? Or is society to blame?

In the media — both mainstream and niche — 2014 was the Year of the Melancholy Millennial. Stories like that of 24-to-35-year-olds like Jessica’s were as common as Ebola scares and Congressional gridlock. Pollsters asked random samples of the nation’s 80 million millennials about their opinions on topics ranging from believing in President Obama to believing in God, and the results were often depressing.

Given our name and mission, Consolidated Credit wanted to know what millennials believe about money. We compiled every survey we could find in 2014 and assembled this financial snapshot heading into 2015…

Graphic displaying how millennials view money

Use this infographic

<a href="https://www.consolidatedcredit.org/infographics/millennials-money/" target="_blank"><img src="https://www.consolidatedcredit.org/wp-content/uploads/2017/04/ig_millennials-and-money.jpg" alt="Graphic displaying how millennials view money" class="img-responsive" /></a>