Finance and Employment Report 2013

Employment & Finance Report 2013

09.20.13

What Millennials Really Think About Employment & Finance

Who was Involved?

Buzz Marketing Group’s Shopping Report 2013 is based on qualitative and quantitative research conducted with 500 buzzSpotters® throughout the United States during the month of March, 2013. This report is available for download at www.buzzmg.com/reports.

Composed based on data from 3.8.2013 – 3.22.2013

500 Participants 9,000 Panelists

53% Female 47% Male

Survey fielded online

Ages 18-34 18-22 17% 23-26 25% 27-30 31% 31-34 27%



Location

NY 14%

CA 11%

IL 12%

TX 8% PA

7% DC 6%

FL 7%

GA 6%

MA 7%

MI 5%

Rest of USA 17%



Ethnicity

White 25%

Black 25%

Asian American

15%

Hispanic 25%

American Indian 3%

Mixed 7%



Marital Status

Single 36%

DaPng 6%

In a relaPonship

26%

Married 30%

Divorced 2%



Education

High school diploma 27%

Associates Degree 14%

Bachelors Degree 46%

Masters Degree 11%

Doctorate 2%



Employment Unemployed

5% Working part-‐Pme

15%

Working full-‐Pme 52%

Self-‐employed

6%

A student 12%

A full-‐Pme home maker

11%



Household Income

Less than $8,000

$8,000 -‐ $33,000

$33,000-‐ $82,000

$82,000 -‐ $170,000

$170,000 -‐ $370,000

More than $370,000

I don't want to specify

2%

23%

46%

22%

1% 0% 5%



How financially secure do you feel?



Extremely secure

Very secure Secure Not very secure

Extremely insecure

4%

15%

45%

31%

6%

Do you receive financial assistance from anyone or

any organization?



I support myself

Family Government Friends Charity / Non-‐profits

Religious OrganizaPons

79%

28%

8% 3% 1% 1%

Which percentage of your income is disposable?



0% -‐ 10 % 10-‐ 20% 20%-‐30% 30% -‐ 40% 40% -‐ 50% More than 50%

28%

23% 24%

12%

8% 5%

Are you saving for retirement?



I am sPll undecided about whether I want to save or not

I am not even considering a rePrement fund

Yes I am saving plenty of money for rePrement

I haven't started but I plan to

Yes, I started saving a lible bit of money

2%

9%

13%

36%

40%

When you have extra money what do you usually do with

it?



Save it Spend it Invest it Donate it Lend it out

52%

42%

5% 1% 1%

Do you keep a record of what you spend?



No, I have no idea about how much I am spending

No, I don't really know how much I am spending

Yes, I know exactly how much I am spending

No, but I have a general idea of what I am spending

Yes, I know more or less what I am spending

3%

3%

28%

32%

34%

Do you invest in the stock market or in bonds?



Yes 32%

No 68%

Stock market

Yes 23%

No 77%

Bonds

Do you have a credit card?



Yes 76%

No 24%

If you were unemployed, which of the following would

you be most likely to do?

Keep looking Create a job Take any job Go back to school

41%

26% 21%

13%



Key Findings Although jobs may be harder to come by these days, Millennials are not ready to just take any job. 41% of Millennials said that they would “keep looking” for a job that they wanted if they were unemployed, while 26% said they would “create a job”, and only 21% said they would take any job.

Millennials are keeping track of how much they are spending, however the majority of Millennials are using credit cards and very few Millennials are investing these days. 94% of Millennials reported that they know “more or less” how much they are spending and 34% of those know “exactly” how much they are spending. Meanwhile 76% of Millennials have credit cards but only 32% invest in stocks and 23% in bonds.

The majority of Millennials support themselves, feel financially secure and are already saving for retirement. 79% of Millennials said they support themselves and 64% reported that they feel financially secure. 53% of Millennials are already saving for retirement and another 36% plan to start saving soon.



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