Upgrade: The dark reason so many millennials are miserable and broke [MarketWatch]
ALLIANZ SE (AZSEY)
NASDAQ:AMEX Investor Relations:
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Source: MarketWatch
The dark reason so many millennials are miserable and broke You’re not going to like this. Millennials spend more time on social media than older generations: People ages 25-34 spend 141 minutes per day on it, versus 105 for the 35-44 set . And that could be hurting both their finances and mental health. Indeed, nearly half of millennials (49%) say that their spending habits have been influenced by the photos and experiences their friends share on social media, compared with only about one-third of Americans in general, according to a data survey of more than 1,000 Americans by financial firm Charles Schwab. Other surveys have uncovered similar trends: Roughly two in three millennials think that social media has a negative impact on their financial well-being, according to a 2018 survey of more than 2,000 millennials from financial firm Fidelity. Data released in 2018 by mobile bank firm Varo Money found that 53% of millennials admit to buying something they saw advertised on social
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