Survey: Millennials struggling for financial independence

Written by Craig Layne and Radio Pennsylvania | Aug 9, 2013 4:00 AM

(Undated) -- A recent survey reveals people in their twenties are struggling for financial independence.

The report by Pittsburgh-based PNC Financial Services Group finds more than half of the millennials surveyed are not where they expected to be financially.

It also noted a drop in the number who claim to be totally financially independent from the company's previous survey in 2011.

PNC Retail Market Manager Chad Clabaugh says young people are still upbeat about their prospects.

"They do feel confident that if they work hard, which accounted for 64 percent of respondents, that they ultimately will be able to acquire that illusive job, the preferred job, if you will," Clabaugh says.

The survey finds only a third of respondents have a job in their chosen field, and 60 percent are in a position to pay all of their bills.

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Comments: 1

  • webbrowan img 2016-01-18 02:15

    In today’s society, people are getting even more competitive as compared to previous years. Hence, we can see a greater number of young adults in their twenties consistently competing with one another in terms of education, relationship, and other factors that influence their social achievements. For some, this would also mean owning a car as travelling by public transport might mean a personal form of weakness. They are willing to fork out additional expenses to cover their used car finance despite their current financial standing.

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