Inflation Squeeze: Gen Z Turns to Parents and Budget Cuts to Survive A Bank of America study reveals that Gen Z adults in the U.S. are struggling financially due to inflation and rising living costs, with nearly half relying on parental support. The survey of 18-27 year-olds shows that 50% are not on track to buy a home within five years, 46% are unprepared for retirement savings, and 40% are not ready to start investing. To cope with increasing expenses, two-thirds of respondents are making lifestyle changes, including budgeting, reducing dining out, and opting for cheaper groceries. Bank of America’s president of retail banking emphasizes the importance of budgeting for this generation facing economic challenges. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Fed Poised for Rate Cut Shift: Economic Boost or Cautious Approach? READ MORE Gold plummets to near $2,400 as profit-booking kicks in, US Dollar advances READ MORE Oil Prices Continue to Drop as US Crude Stockpiles Surge READ MORE Gold Prices Forecasted to Reach $2,500 in 2024, UBS Says READ MORE Dollar Nears Monthly Peak Amid Rising US Yields and Anticipation of Rate Cuts READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment