There's a new age where you're considered an adult, if Gen Z are to be believed.
Apparently, a new study has found that a number of young adults believe that they aren't 'fully grown' until much later than society believes.
There is a growing trend of people in their twenties being financially reliant on their parents due to the cost of living crisis, which isn't slowing down any time soon.
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Funding yourself is more challenging than ever, with more and more people going deeper into their twenties without owning a home or being self-sufficient.
Life Happens have carried out a study, published in September, asking 2,000 Americans that were split into their respective generations (500 Gen Z, 500 millennials, 500 Gen X and 500 baby boomers), and asked about what defines adulthood.
Initially thought to be 18, when most people finish school, it turns out that it just wasn't that straight forward.
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The results proved that people thought differently, as 56 percent agreed that you become an adult after you can pay your own bills, while 45 percent said it was when you fully become financially independent, while 38 percent claimed it was when you put responsibilities over fun.
Others pointed towards moving out and working, while just 11 percent of Gen Zers said that they actually felt like adults, despite being considered one.
According to Gen Zers, adulthood in 2024 starts when you're the ripe-old age of 27. That's nine years higher than the traditional 'adult age' of 18.
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What's damning about this is that the oldest members of Gen Z are actually turning 27 now, though they admitted that they lack the money and stability that qualifies them as adults, in their eyes.
Traditional idealisms of adulthood such as settling down, being a homeowner or having kids, are far out of the realm of possibility.
But it extends beyond this generation, as some millenials and Gen Xers don't feel completely self-sufficient, as the US residents hope to be financially stable by 46, if they're lucky.
That's almost 20 years after Gen Z consider you an 'adult'.
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An overwhelming amount of those in older generations also wished they'd taken finances more seriously in their 20s, 76 percent of them in fact. Talk about warning signs.
The pill that's tough to swallow here is that 40 percent of those that took the survey don't ever think that they'll achieve financial stability.
Answers and results may have differed throughout the generations, but the one thing that was common across participants was that 'adulting' is becoming more difficult as 71 percent of people agreed that it's harder to be an adult compared to how it was in the '90s, for example.
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The cost of living continues to sky rocket, with inflation increasing quicker than you can blink, unreasonable living costs and an economy-destroying pandemic all playing a part, as the job market continues to suffer.
In the US, homeownership for those under 35 is at its lowest point in four years, so all of these factors combined may point towards there being some truth in the new adult age.
Topics: Cost of Living, Community, Money