Study: Has Gen-Y Learned from the Recession?
Generation Y, often derided as an overly entitled and lazy generation, may be learning from the effects of the recession.
A survey of finance writers and experts by PerkStreet Financial found more than half - 56.5 percent - believe the Millennials have been prepared as well or better than Gen X to successfully manage finances during their lifetimes. Of that cross section, more than one-third - 34.8 percent - believing Gen Y is better off, and 21.7 percent agree the age group is as prepared as Gen X.
"Reputation aside, Gen-Yers have had a personal finance trial by fire," said Anisha Sekar, a regular contributor at NerdWallet. "Between student loans, an anemic job market and being in the last-hired-first-fired group, much of this generation learned frugality and saving by necessity."
Respondents also expressed the belief that women tend to be more interested or engaged in improving their finances, as 68.2 percent of finance writers believe women are more interested in the content they produce. Less than one-third - 31.8 percent - believe men are more interested in learning to improve their finances from these publications.