LA Times article shares concerns of millennials

An article in the October 22, 2015 issue of the Los Angeles Times revealed financial concerns among millennials living in the city.

The title read, "39% of L.A. millennials 'chronically stressed' about money, survey finds"

The story was written by , Contact Reporter, who reported on a new survey by Bank of America and USA Today on L.A. millennials.

Here are some interesting facts she found in the report:

What L.A. millennials stress about

  • 72% worry about the cost of living
  • 63% worry about the cost of housing
  • 61% worry about their ability to save money while living in Los Angeles.

Survey respondents said factors like not making enough money, the economy, lack of job opportunities and failure to save were all obstacles to achieving financial stability.

Their top financial priorities

  • 70% said being debt-free was a top priority
  • 63% said having an emergency savings fund was a top priority
  • 62% said spending less than they earn was a top priority

Click here for the full article

This survey, conducted online by market and consumer research firm GfK Public Affairs and Corporate Communication, surveyed 1,320 millennials in August.

 

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