Gen-Ys worry about money

Money is the biggest worry for most Australians, according to a new study – and Gen-Ys are the most stressed out about their financial situation.

According to the Eye on Australia survey conducted by ad agency Grey, 59% of people cite financial security as their biggest worry – more than any other issue.

And, surprisingly, it is the one generation who have never really experienced recession, Gen-Y, who are the most concerned. Over 50% of Gen-Ys reported they are worried about their personal finances, while 55% said they were worried about affording a home – more than Gen-Xs (47% for each) and baby boomers (41% for each).

But at least the Gen-Ys appear to be sensible about addressing their money woes – 52% of Gen-Ys said they have sought financial advice, more than any other age group.