Buzz on Finance: 2014
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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
Buzz Marketing Group 132 Kings Highway
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856.433.8579 Fax: 856.520.8581
www.buzzmg.com
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