Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Money Under 30 Survey finds majority of Millenials report positive effect of COVID-19 on finances.

Document Cited in Related
Vincent

Global Banking News-June 30, 2020-Money Under 30 Survey finds majority of Millenials report positive effect of COVID-19 on finances

(C)2020 ENPublishing - http://www.enpublishing.co.uk

Money Under 30 has announced results of a recent survey that found 65% of Millenials say COVID-19 has provided an unexpected positive impact on their finances, the company said.

According to a national survey of more than 2,000 US adults (aged 18-39) by Money Under 30, two out of three (65%) Millennials 69% have spent less money overall, even as boredom (40%) and depression (20%) contributed to a significant uptick in online shopping.

Millennials made the biggest savings on eating out (52%), transportation (47%) and nights out drinking (30%). Millennials also saved on vacations (28%) and gym membership (21%).

One of the major finds of the survey is that 61% of Millennials think now is a good time to invest, with younger Millennials proving that investing is not an old man's (or woman's) game: 70% of under-30s are interested in learning how to invest compared to 55% of those 30-plus. One in five (20%) are planning to start investing because of the pandemic, with 72% of women interested in learning more about investing (or doubling down on existing investments), compared to 82% of men.

COVID-19 has also had an effect on how...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT