Millennials Study 2014

02.17.14

What Millennials Really Think About Finance

Who was Involved?

Buzz Marketing Group’s Millennials Study 2014 is based on qualitative and quantitative research conducted with more than 400 buzzSpotters® throughout the United States during the month of January, 2014. This report is available for download at www.buzzmg.com/reports.

Composed based on data from 1.1.2014 – 1.22.2014

431 Participants 3,000 Panelists

64% Female 36% Male

Survey fielded online

Ages 18-35 18-22 21% 23-26 17% 27-31 31% 32-35 31%

What Millennials Really Think About Finance

Millennials Study 2014

Location

What Millennials Really Think About Finance

Millennials Study 2014

NY  16%  

CA  14%  

IL  9%  

TX  6%  FL  

4%  PA  5%  

GA  6%  

Rest  of  USA  40%  

Ethnicity

What Millennials Really Think About Finance

Millennials Study 2014

White  60%  

Black  16%  

Asian  American  

8%  

Hispanic  12%  

Mixed  4%  

Marital Status

What Millennials Really Think About Finance

Millennials Study 2014

Single  25%  

DaPng  6%  

In  a  relaPonship  

29%  

Married  40%  

Education

What Millennials Really Think About Finance

Millennials Study 2014

High  school  diploma  27%  

Associates  Degree  16%  

Bachelors  Degree  43%  

Masters  Degree  12%  

Doctorate  2%  

Employment

What Millennials Really Think About Finance

Millennials Study 2014

Unemployed  3%  

Working  part-­‐Pme  

13%  

Working  full-­‐Pme  53%  

Self-­‐employed  

7%  

A  student  11%  

A  full-­‐Pme  home  maker  

13%  

Household Income

What Millennials Really Think About Finance

Millennials Study 2014

Less  than  $8,000  

$8,000  -­‐  $33,000  

$33,000-­‐  $82,000  

$82,000  -­‐  $170,000  

$170,000  -­‐    $370,000  

More  than  $370,000  

I  don't  want  to  specify  

11%  

17%  

39%  

18%  

2%  1%  

12%  

From whom do you receive financial assistance?

What Millennials Really Think About Finance

Millennials Study 2014

Family   Government   Friends   Charity  /  Non-­‐profits  

Religious  OrganizaPons  

23%  

11%  

6%  

3%   3%  

Which percentage of your income is disposable?

What Millennials Really Think About Finance

Millennials Study 2014

0%  -­‐  10  %   10-­‐  20%   20%-­‐30%   30%  -­‐  40%   40%  -­‐  50%   More  than  50%  

25%  

22%  

28%  

13%  

5%  

8%  

When you have extra money,

what do you do with it?(Select all that apply)

What Millennials Really Think About Finance

Millennials Study 2014

What Millennials Really Think About Finance

Millennials Study 2014

#1 (91%)

Save

#2 (86%)

Spend

What Millennials Really Think About Finance

Millennials Study 2014

#3 (54%)

Invest

#4 (50%)

Donate

Do you invest in stocks or bonds?

What Millennials Really Think About Finance

Millennials Study 2014

Stocks   Bonds  

Yes  44%  

No  56%  

Yes  32%  

No  68%  

Do you have a credit card?

What Millennials Really Think About Finance

Millennials Study 2014

Yes   No  

78%  

22%  

Do you feel financially secure?

What Millennials Really Think About Finance

Millennials Study 2014

Yes  46%  

No  54%  

Do you record how much you are spending?

What Millennials Really Think About Finance

Millennials Study 2014

Yes   No  

66%  

34%  

Are you saving for retirement?

What Millennials Really Think About Finance

Millennials Study 2014

Yes   No  

57%  

43%  

Key Findings

What Millennials Really Think About Finance

Millennials Study 2014

54%  of  Millennials  reported  that  at  least  20%  of  their  income  is  disposable    

91%  of  Millennials  save  extra  money  compared  to  54%  who  invest  

78%  of  Millennials  have  a  credit  card  

Only  46%  of  Millennials  feel  financially  secure  

57%  of  Millennials  are  saving  for  rePrement  

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