Nearly a third of Gen Z and millennials worry that their finances could lead them to experience homelessness, according to a survey conducted by Acorns and Opinium Research.
Between Feb. 14 and Feb. 23, 5,000 U.S. consumers aged 18 and up completed the survey, called the Acorns Money Matters Report. Respondents included Gen Z, millennials, Gen X, boomers and the Silent Generation or people 78 and up.
Acorns has been conducting the survey since 2017. This year’s questionnaire found that 29% of Gen Z and 32% of millennials fear their financial situation could lead to experiencing homelessness. Gen Z and millennials were nearly three times more likely than boomers and older respondents to worry about this outcome, results of the survey showed.
“When you think about money holistically and the emotional side of money … that’s what ultimately feels like the lack of hope and confidence,” Noah Kerner, CEO of Acorns, told USA TODAY.
The company also found that 33% of millennials and 28% of Gen Z are unable to enjoy their lives because they obsess over money.
Acorns, the financial services company Kerner leads, tries to confront problems financially, educationally, and emotionally, he said. The brand, he said, is based on the idea of tiny acorns “growing into mighty oaks.”
“Giving people a sense that if you make these small changes in your life and if you stay committed in these small ways, you can change your life,” he said.
More finance news:The Fed just dashed hopes…
