An AARP survey demonstrates how financial concerns are pervasive in every aspect of young adults’ lives and suggests that a general reluctance to discuss money with friends and family could have a negative impact on their financial futures. The report, entitled “Personal Finances: The Final Frontier of Social Media,” is based on a national survey of 1,002 young adults (aged 18-34). Specifically, the report revealed:

  • 57% of young Americans consider their financial situation to be the
    biggest concern in their lives.
  • 66% rate their own financial situation as fair to poor, and almost
    half (43%) expressed concerns about their ability to make sound
    financial decisions.
  • Nearly eight out of ten young people (78%) have debt of some kind.
    Credit card debt (36%) – considered “bad debt” by most financial
    experts – is by far the most prevalent form.
  • 68% of respondents admit that finances have caused stress in a
    relationship or friendship.
  • While in many cases social media sites (e.g. Facebook) have lowered or
    eradicated the social boundaries around certain topics, finances
    remain a taboo subject. In fact, people are more likely to discuss
    relationship status (61%), politics (43%), their health (23%), and
    their weight (20%) than their financial situation.
  • Among those young adults who have sought advice online, 85% report
    being more confident about their ability to manage their finances.
  • Geraldine Jensen

    Publisher and Editor of Families Online Magazine. Our experts provide warm, loving, and generous advice for you, your family and children, no matter their age -- infants, school age, 'tweens, and teenagers. Features include:Parenting, Ages and Stages of Child Development, Child Support, Cooking, Health, Children's Books, Nutrition, Christian Parenting, Relationships, Green-living, Education and School

    Ms. Jensen is a leading advocate for families and children and was the founder and president of ACES, The Association for Children for Enforcement of Support.
    Geraldine JensenEconomyAn AARP survey demonstrates how financial concerns are pervasive in every aspect of young adults' lives and suggests that a general reluctance to discuss money with friends and family could have a negative impact on their financial futures. The report, entitled 'Personal Finances: The Final Frontier of Social Media,'...Parenting Advice and Family Fun Activities