More than half of Americans feel they handle their finances better than their parents, according to new research.
A survey of 2,000 adults looked at how different generations perceive money and found that 58% believe their better financial managers than their parents, yet 65% admitted being uncomfortable when talking to their parents about money.
This may be because 59% feel their parents have previously judged their financial habits.
But that isn’t stopping people from achieving their financial goals or teaching others about their hits and misses.
Almost six in 10 said they’re confident enough in their financial habits to pass them down to their children (58%).
Conducted by OnePoll on behalf of BOK Financial®, the study revealed that 77% of people are confident in their ability to save money — especially millennials (86%).
Meanwhile, 60% of Gen Xers admitted that they lack the skills when it comes to saving a dime.
Saving money has been tough, though, since 58% of people have spent money more casually during the pandemic than in previous years.
Sixty-eight percent of people agree that inflation has had a strong impact on how much money they can save, with Gen Zers expressing the most concern (83%).