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1. HOW TO MANAGE MY OWN MONEY: However, their knowledge levels fall significantly on topics that may be important to a more secure financial future, including saving for retirement (38%), investing (30%) and buying a home (26%).When asked where they learned about finances, only 33% said school (K-12 and/or college). Most learned at home or from their family (75%), while 39% were self-taught, 20% from friends and peers, and 13% from a financial professional. Better money habits bank of america Research shows that, despite obstacles, 80% of Z’s are taking positive steps toward achieving their financial goals. Employees making a difference Over the past year, 80% of Gen Zers have taken one or more positive financial actions. Of that, 70% added savings, 29% mapped out financial goals, 26% contributed to a retirement account and 26% invested in the market.

2. Better money habits bank of america financial and other pandemic-related challenges, 68% are optimistic about their financial future. Nearly 70% also say the pandemic has affected their financial priorities, including a greater focus on saving for future goals (33%) and living more frugally (19%). Half (49%) describe themselves as completely or mostly financially independent. Half are still completely (14%) or mostly (36%) financially dependent on their parents, with 24% preferring to be financially independent. Discuss the concept of risk and diversification. Today, Gen Z sees insufficient income to achieve financial goals (46%), lack of job stability (23%) and inability to save (21%) as their biggest barriers to financial success. When asked about the most stressful financial aspects of their lives, Gen Z cited not being able to afford the life they want (37%), lack of emergency savings (33%), student loan debt (22%), health care costs ( 17%) and only make their next paycheck (11%).