Potential students can look into Maryville University’s online Master of Science in Accounting program. Individuals interested in developing the skills needed to provide critical guidance to these generations should consider an advanced degree in financial management. Many financial challenges face both generations, but sound financial advisory tactics and the benefits of budgeting can help them to build comprehensive savings strategies. While millennials and Gen Zers are more diverse, educated, and technologically advanced than prior generations, their sizes, levels of student debt, housing issues, and employment projections are poised to impact their own lives as well as society. On average, millennials have $27,000 in debt and Gen Zers have $14,700 in debt, according to Northwestern Mutual. The metrics about millennials and Gen Zers correlate to an emerging need for financial advisory strategies to navigate the future’s financial complexities. While about 50% of Gen Zers are aware of student debt, due to the debt of millennials who came before them, Gen Zers still take on student loans and have credit cards. Like millennials, they’re also dealing with increasing levels of debt. Some of the oldest Gen Zers are now graduating from college and beginning their careers. Growing up in the digital era, Gen Zers are likely to have an affinity for technology from early childhood. While this generation is still establishing itself, it’s the largest, most racially diverse generation - even more so than millennials - in U.S. Generation Z consists of those born between 19. As of 2018, only 46% of millennials between ages 25 and 37 were married. Millennials also are getting married and having families later in life. Millennials’ housing situations vary: They were hit by the Great Recession (2007-2009), which led to many having difficulty establishing independence, and they are currently the largest generation to remain living at home for an extended period during adulthood. However, millennials currently have the highest levels of student debt, which affects other factors in their lives.

While millennials’ career paths may be much different from their parents’, education still matters: those with bachelor’s degrees are overall more successful and make more money than their high school graduate counterparts. because they’re more racially diverse and educated than previous generations. population and have ushered in one of the biggest societal and cultural shifts in the U.S. Millennials currently make up one quarter of the U.S. This generation came of age during the digital era and are known for their comfort with technology and social media. On a smaller scale, the economic welfare of individuals also requires proper money management, and millennials and Generation Zers have special concerns and needs. history when the national debt is at a record high of $22 trillion, the welfare of the country relies on proper planning and budgeting.

Budgeting advice for young adults