Generation Z, the kids of Gen Xers, are quickly approaching the age of money management – and, having grown up in a recession, they face unique challenges. Here are a few ways Zs can kickstart their savings and safeguard their financial futures.
Millennials are the most likely to use mobile banking apps offered by their banks – and would even switch lenders for a better mobile experience, according to a consumer survey by Google.
Back to school season is upon us, and many post-secondary students are already on campus, and spending their hard-won student loans. In addition to Psych 101, the college years often offer a crash course in “grown up” money management – but is generation Y really getting the message? One study finds the majority aren’t sure when they’ll pay back their student debt, while another suggests Boomer parents simply foot the bill.
With the cost of living, real estate and education steadily rising, it’s arguable that today’s young adults face steep financial challenges. But does that mean they should depend on their retirement-aged parents for help? In light of reports that suggest today’s retirees are among the richest in history, Ted Rechstshaffen, a Toronto-area financial planner, suggests it makes sense for cash-strapped adults to continue to depend on their financially secure parents.
There’s increasing amounts of evidence that millennials really DO have it tougher than generations past, as unemployment, debt and expensive housing remain pressing issues.
Sharing isn’t always caring! A new VISA study finds that Generation Y’s are at increased risk for identity theft due to the oversharing of their vital financial information with their friends – including their credit card and debit pin numbers.
We caught up with Justin Bouchard of Young & Thrifty, the winner of our Best of Finance Frugal Living Blog category, on how finance blogs fill the information gap when it comes to financial literacy.