Filed Under:Health Insurance, Disability

Survey identifies financial health gap among generations

The gap in financial health between generations is growing as Generation Y employees — those currently between the ages of 21 to 32 — are struggling more with debt and cash management issues, while Baby Boomer and Generation X employees’ financial wellbeing has improved in the past twelve months, according to the 2014 Employee Financial Wellness Survey by PricewaterhouseCoopers US.

Gen Y, or millennials, was the only generation to see an uptick in the percentage of employees who consistently carry balances on their credit cards, up 14 percentage points year-over-year to 51 percent. More Gen Y employees also reported difficulty meeting their household expenses on time each month — up 11 percentage points to 41 percent from last year; again, the only generation not to see an improvement.

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Nichole Morford

Nichole Morford
Managing Editor

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