Sorry, Gen Z, But Your Anxiety Over Money Is Going To Persist

It's become a reality especially as another shock could hit savings

- ERIN LOWRY

Less than a third of Gen Z feels financially secure while just more than half feels "very or extremely worried about not having enough money," according to a recent study by consulting firm EY. "Welcome, the water's warm!" says every American millennial.

After years of being told conditions. would improve and to just grow up, millennials, as a collective, are treading water at best. In fact, 73% of millennials are likely to be living pay-cheque to cheque, according to a LendingClub report. A separate survey by Investopedia found that three-fourths of millennials, who range in age from 27 to 42, were at least somewhat stressed about their finances. Financial anxiety has become an exhausting part of adulthood reality, especially when it seems as if another recession or major world shock could upend whatever financial security younger adults have established.

As a personal finance writer, I'd love to tell millennials and older Gen Zers (the full generation ranges from 11 to 26) that just changing their mindset and taking control of their financial lives would release them from worry. To a degree, it's true. Focusing on what's within your control, identifying your core values and learning how to live within your means while splurging on that which you care most about can yield what feels like a rich life.