buzz on finance: 2014
DESCRIPTION
BuzzMG sits down with Millennials from all over the nation to talk about their financial stability, their employment situations, and their opinions on the economy.TRANSCRIPT
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Millennials Study 2014
02.17.14
What Millennials Really Think About Finance
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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
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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%
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Ethnicity
What Millennials Really Think About Finance
Millennials Study 2014
White 60%
Black 16%
Asian American
8%
Hispanic 12%
Mixed 4%
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Marital Status
What Millennials Really Think About Finance
Millennials Study 2014
Single 25%
DaPng 6%
In a relaPonship
29%
Married 40%
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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%
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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%
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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%
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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%
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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%
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When you have extra money,
what do you do with it?(Select all that apply)
What Millennials Really Think About Finance
Millennials Study 2014
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What Millennials Really Think About Finance
Millennials Study 2014
#1 (91%)
Save
#2 (86%)
Spend
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What Millennials Really Think About Finance
Millennials Study 2014
#3 (54%)
Invest
#4 (50%)
Donate
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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%
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Do you have a credit card?
What Millennials Really Think About Finance
Millennials Study 2014
Yes No
78%
22%
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Do you feel financially secure?
What Millennials Really Think About Finance
Millennials Study 2014
Yes 46%
No 54%
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Do you record how much you are spending?
What Millennials Really Think About Finance
Millennials Study 2014
Yes No
66%
34%
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Are you saving for retirement?
What Millennials Really Think About Finance
Millennials Study 2014
Yes No
57%
43%
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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
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