KIC Survey: 33.1% of Millennials' and Gen Z's Finances Worsen; Here's Why

A survey by the Katadata Insight Center (KIC) and Zigi shows that 33.1% of millennial and Gen Z respondents experienced a worsening of their financial condition at the end of 2021. The main reasons cited were decreased business income and job losses (layoffs).

38.2% of respondents admitted to a decrease in business income. Furthermore, 22.9% experienced job losses.

Other reasons for the deterioration of millennials' and Gen Z's finances included increased healthcare expenses (cited by 16.9% of respondents) and salary cuts (12.5%).

During the pandemic, there was an increase in the number of new investors. However, not all were able to manage their investments effectively. 7.2% of respondents experienced investment losses, leading to a worsening of their financial condition.

The survey was conducted from September 6th to 12th, 2021. Its aim was to investigate the financial condition of the population during the pandemic, particularly among Gen Z and Gen Y, and to explore financial behavior and perceptions of investment.

The KIC and Zigi survey involved 5,204 online respondents aged 15 and above with internet access.