Posted on 04/25/2025 6:40:18 PM PDT by Red Badger
A recent survey conducted by Harvard’s Institute of Politics reveals a stark reality for young Americans: 42% of those under 30 report they are “barely getting by” financially, with only 16% saying they are doing well or very well.
This alarming statistic, drawn from a poll of 2,096 adults aged 18 to 29 conducted between March 14 and 25, 2025, underscores the economic challenges facing Generation Z and young Millennials.
The Harvard Youth Poll, as reported by CNBC, NBC New York, and NBC DFW, indicates that roughly two in five young Americans are either “struggling to make ends meet” or “getting by with limited security.”
This financial precarity is particularly acute for certain demographics. Women, with 47% reporting financial struggles compared to 37% of men, face heightened challenges, according to Spectrum News.
Similarly, 52% of young Latinos and 50% of those without a college degree say they are struggling, compared to 35% of college students and 29% of college graduates.
These disparities reflect structural barriers, including lower earnings and limited access to higher-paying jobs for non-degree holders.
Posts on X further amplify the sentiment, with users like @HarvardIOP and @NewYorkSun noting the poll’s findings and linking them to broader disillusionment, including declining support for congressional Democrats among young voters.
While these posts reflect public discourse, they alone do not substantiate the data but highlight its resonance.
While the Harvard survey does not pinpoint specific causes, multiple sources suggest that persistent inflation, the resumption of student loan payments, and low starting salaries are squeezing young adults.
CNBC and NBC outlets report that the cost of essentials—food, shelter, and transportation—has surged, with inflation driving up prices by nearly 21% since February 2020.
John Bell, a certified financial planner quoted in these reports, emphasizes that many young people graduate with significant college debt, often entering careers that do not pay enough to cover both loans and basic living expenses.
The Washington Post, in a related 2023 article, provides context on rising costs, noting that everyday expenses like meals and home maintenance have increased significantly, further straining budgets.
For example, the cost of a typical lunch has risen by over 30% in some cases, and property taxes have jumped, impacting even those who have paid off mortgages. These trends disproportionately affect younger adults, who are less likely to have accumulated savings or assets.
The Harvard findings align with other research indicating growing financial strain among young Americans.
A January 2025 Credit One Bank survey, cited by CNBC and NBC, found that 39% of Gen Z adults feel stressed about their finances, the highest of any generation, with low confidence in their financial control.
Additionally, a 2022 New York Times article highlights a decline in economic mobility, noting that only 50% of Americans born in 1980 are likely to out-earn their parents, compared to 92% of those born in 1940.
This fading “American Dream” exacerbates the sense of financial insecurity among the young.
CNN, in a 2024 report, adds that even higher earners are not immune, with 41% of Americans aged 18 to 35 expressing concern about making ends meet, compared to just 22% of those over 65.
This suggests that financial pressure is pervasive across income levels for younger generations, driven by rising costs and stagnant wages relative to inflation.
The Harvard poll, as covered by Spectrum News and Political Wire, also reveals broader social and political discontent.
Only 19% of young Americans trust the federal government to do the right thing most of the time, and support for policies like tariffs and Gaza redevelopment is low, at 19% and 14%, respectively.
This distrust, coupled with financial hardship, may contribute to the reported skepticism about the value of college education, as noted in a 2022 Bloomberg report, where only 56% of young adults felt their degrees were worth the cost.
In a proper world, we would have people for that, not govt programs.
It used to be the job of individuals and churches.
The U.S. wasn't carrying $37 trillion in debt in 1970.
We still have that.
We have food banks at many of the churches here.
They advertise on local TV news about food giveaways practically every weekend somewhere, usually more than one.
But they are being scammed.
I know of at least one ‘family’ that goes from food bank to food bank in order to get free groceries and they have jobs and make good money and drive nice cars.
But they aren’t the only ones.
If you go to these giveaways and look at the people, they are driving Escalades, SUVs and fine cars and look like they haven’t missed a meal since birth.................
I don’t know. I think he does have a device that tells you what the Check Engine light means. He’s rather electrically inclined.
But he still does our own brakes and changing out snow tires, and things like water pumps, filters, burned out lights, wipers, oil changes, other fluid changes, etc.
Sure, there may be some things you need the expensive equipment for, but there is lots someone can do themselves..
People want healthier food?
Grow it yourself.
ANYONE can do something, even in apartments if you have a patio, you can container garden SOMETHING.
And it actually still is.
Just because it's been foisted off onto the government, doesn't absolve us of that responsibility.
It only stops when the free stuff stops.
What will make the free stuff stop?
The local churches are free stuff factories. You used to have listen to a sermon to get a free meal. Now that is cruel and unusual.
Tough times is the cure............................
Which is irrelevant to a person's own personal money management situation.
People need to get over their entitlement mentality and learn to budget and save. That would go a LONG way towards solving a lot of these younger people's financial problems.
People need to get over their entitlement mentality and learn to budget and save. That would go a LONG way towards solving a lot of these younger people’s financial problems.
After the media pushing this story, I am surprised the survey only shows 42%. Think about it. We are winning.
I am a Boomer. Things have changed. There is no real comparison to how things were when I was in my 20s and 30s. To say otherwise is delusional.
The American economy is way out of kilter. This is not Trump’s fault. The NWO has been slowly working achieve it’s goal. As you can see, they were almost there until November of 2024.
They haven’t given up yet either.
Bingo
Costs, taxes, and fees all skyrocket to pay off just the interest on that debt, forget the note. Companies send jobs overseas due to those costs.
Me too, in fact I'm almost fanatical about the subject. I'm in the process of developing my own inflation calculator.
A few months ago I happened to see an old, ~1968, episode of "Leave to to Beaver" during which they mentioned the price of gas being exactly one-tenth the current price and the price of an auto battery being $15 - which is also right at one tenth.
When I think back to what my Dad's paycheck was in those days, it's about one tenth of mine today. That 10x factor between the late 60's and today is a good frame of reference.
U.S. debt has nothing to do with my income.
Nor is it *boomers* fault.
It's the crappy government people have elected by electing democrats to office.
Yup.
You can still budget and save in spite of that through self-discipline. Both my daughters did that and got out of college and grad school debt free.
My son is personally less responsible and he didn’t. But it was the actions of each of them individually.
FWIW, all three of my kids are gainfully employed. Two own houses and the third rents because it’s the only option where she lives but she moves enough because of work that buying a house is not realistic.
I bet it’s because they spend too much. 18 to 29 isn’t the big earnings years.
40 years ago, the general guidelines for income for being able to own a house or a car was that the house would cost no more than double your annual income and a car would be no more than half.
And for monthly expenses rent or mortgage would be more than half your take home pay and the car payment would be no more than 1 week’s paycheck.
I totally agree.
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