In comparison with the global average, diminishing financial well-being as perceived amongst the millennials of the United States. Might be related to their growing interest in the alternative financing methods, says the reported data published by the Morning Consult.
In the middle of rising financial vulnerability, almost every other millennial living in the United States owns some cryptocurrency. However, adults of Gen Z also started to pick up on this new trend and are growing fast.
As the reports say, the score of the consumers’ financial well-being is a reflection of the impact of their financial reliability and freedom of choice. Based on the monthly polls conducted amongst 2,200 or 4,400 US adults and this specific demographic having a hard time finding both.
The score of the millennials is well below average globally, except for Latin America and Spain as noted by the reports. However, the millennials of Canada and America are quite under the weather at the moment.
To fulfill their financial needs and goals, millennials are highly likely to be drawn to some financial advice and are more open about their finances in comparison with the other demographics. Millennials are not at all being shy about discussing their finances but they are more prone to discuss and look for solutions unlike other generations, says the reports. Reports also mentioned how millennials gravitate more towards multiple financial service providers.
As per the reports, cryptocurrencies entered the mainstream market in the United States with roughly around one in four users reporting household ownership.