Worried about money? Women and Gen Z are the most stressed, recent research finds

While one in three of all Americans habitually lives paycheck to paycheck, recent research revealed women and production Z, or adults ages 18 to 28, currently encounter the most monetary stress.

Stagnant wages, increasing learner financing obligation, and the gender wage gap all contribute to monetary generational divides, a financing One lender survey of 1,000 American adults released Tuesday found.

The recent research also revealed that less than 10% of Americans learned about expense management in school, but younger generations are more likely to discuss money with their parents than members of production X – people between 45 and 60 – and Baby Boomers aged 61 to 79. Still, financing One lender concluded that more than 50% of production Z enter adulthood without a formal education in monetary literacy.

“This survey reveals a obvious link between rising anxieties about expense management and the lack of basic monetary education across generations,” financing One lender’s Chief financing Officer Steve Min said in a statement. “This data helps us better comprehend the general buyer spectators and how we can better back the require for expanded monetary education.”

More:From Gen Z to Boomers: How much money each production thinks they require for achievement

Capitalize on high earnings rates: Best current CD rates

When did each production become responsible for its personal finances?

The survey found the same amount of Baby Boomers and production Z – 89% – began managing their own bills before age 24. However, a stark difference exists between how the two groups learned about expense management. Almost half of Baby Boomers reported that they taught themselves in comparison to only 11% of production Z, a majority of whom said their parents taught them.

Among production X, 87% started managing their finances before age 24. Millennials, or people between ages 29 and 44, took control of their finances slightly later, with 79% managing their bills before 24 and an additional 15% managing their bills before 30. The survey found about half of production X and Millennials said they learned about expense management from their parents or household.

Generations dissent on whether obligation is ‘normal’

About one in three Americans across generations reported they have a “significant” terror of obligation, but half of production X participants said it was “a normal part of life.”

That’s a sizable boost over the 35% of Baby Boomers who said they viewed obligation as normal based on household experiences growing up.

Following closely behind production X, 48% of Millennials reported they viewed obligation as a normal part of life.

production Z respondents broke the pattern, with more agreeing with Baby Boomers. Only 39% of the youngest production surveyed said they considered obligation a normal part of life.

How stressed is each production about money?

Each production agreed their top barrier to monetary stability is the high expense of living in the United States, which can contribute to stress.

Across generations, 48% of women reported feeling stressed and anxious about their finances in comparison to 38% of men. The survey suggests this is likely because women earn less profits than men, pointing out that “households with women as the primary earners had 55 cents of riches for every dollar in homes with male earners.”

While 59% of production Z, the highest amount for any production, reported feeling stressed and anxious, the survey revealed that production X feels the least confident about its finances. A little more than half of Millennials reported stress and anxiety regarding their finances in comparison to only 29% of Baby Boomers.

Reach Rachel Barber at [email protected] and pursue her on X @rachelbarber_