Are We Witnessing A New Age Of Responsibility?
April 22, 2020 by Saturday Insurance
The Coronavirus crisis seems to have delivered an era of fiscal responsibility among younger adults. A new survey conducted by PSB Research for Saturday Insurance shows that 25- to 34-year-olds are more likely than other adults to be tackling their finances and other matters of work and planning during this period.
“While there’s been a good deal of information out there indicating that Americans are spending their recently found home time watching television, organizing and exercising, many are using their time to prepare for their futures,” said Dennis Ho, CEO of Saturday Insurance.
According to the data, those in the younger age group spending more time at home during the pandemic are much more likely to be addressing their personal finance needs: refinancing or consolidating debt, buying or reviewing life or disability insurance, creating or updating legal documents and researching long-term care options for themselves or their parents. They’re also working more, doing more long-range financial planning and reviewing their spending.
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