Paying for college, or the loans taken out
to go to college, is the main financial concern for young adults in the United
States, according to a new Gallup poll. College expenses were the primary concern
for 21% of respondents in the 18-29 age bracket.
It also shared the top spot among the 30-45
age group, with an overall lack of money or low wages at 14%. The poll was
based on telephone interviews of 1,026 adults in all 50 states conducted
between April 3-6.
Not surprisingly, the research showed that
financial concerns are age-specific. While younger Americans are concerned with
education costs, seniors are focused on paying for health care and the rising
cost of living.
“Knowing these differences could help
lawmakers and financial advisers better serve consumers’ financial needs,”
wrote Lydia Saad for Gallup Economy.
“And if consumers become familiar with what others of a similar age or income
level are concerned about, it might help them better understand and cope with
their own financial challenges.”
