Finaancial Worry for Young
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:
biggest concern in their lives.
half (43%) expressed concerns about their ability to make sound
Credit card debt (36%) – considered “bad debt” by most financial
experts – is by far the most prevalent form.
relationship or friendship.
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.
being more confident about their ability to manage their finances.
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.
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