6 facts that show millennials are going to be OK, even if you think they aren't
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- Millennials are known for being financially behind, but they'll probably end up being okay.
- A new survey by Insider and Morning Consult found that many millennials view their financial standing positively when compared to their peers.
- They're also doing better than previous generations in certain areas: They're more optimistic about money than Gen X and more open to talking about it than baby boomers.
- Read more personal finance coverage.
The story isn't a new one: Millennials are struggling with financial problems previous generations didn't face.They're dealing with a heavy trifecta formed by the ongoing fallout of the recession, rising living costs, and staggering student-loan debt. But perhaps not all is as bad as it seems.Advertisement
Insider recently teamed up with Morning Consult to survey more than 2,000 Americans about their financial health, debt, and earnings for its new series, "The State of Our Money." More than 670 respondents were millennials, defined as ages 23 to 38 in 2019.
While several findings weren't positive - millennials are more likely than their parents to delay life events because of money and they're pretty stressed about their debt - other results painted a much brighter picture.Millennials overall view their financial standing favorably when compared to their peers - and compared to Gen X, the preceding generation. They've also made strides in money compared to their parents: Millennial women are earning more than their mothers, and millennials overall are more open talking about money.
Here, six facts that show millennials will probably be okay, even if you think otherwise.
Millennials are more open about money than their parents
Millennial women are more likely than their mothers to out-earn their partnersAdvertisement
Millennials may have credit-card debt, but they have less than the previous generation
Most millennials think they have less debt than their peersAdvertisement
And more millennials than not think they're financially better off than their peers
Millennials are more positive about their finances than Gen XAdvertisement
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