Feel good story you might have missed.
With the economic press full of headlines about incompetent millennials who’d rather splash their cash than save to buy a house, it’s easy to write younger generations off as lost causes. But, back in February, new research shows almost and early adults are a lot smarter and more responsible than you’d think.
In February economist Noreena Hertz revealed the results of her research about the group she calls “Generation K” after their kinship with Katniss Everdeen, the protagonist of the Hunger Games series of novels. She conducted focus groups and interviews with 16-to-18-year-olds in the U.K. and surveyed nearly 2,000 people aged between 14 and 21 in the U.K. and U.S. “They’re actually a very surprisingly financially cautious generation,” she said. Hertz also found that they’re more likely to save as a safeguard than the next couple of generations up, and 72 percent of generation K said they were worried about debt.
In our politics as well as our pockets, we’re still feeling the effect of the great recession and its economic anxieties. But it seems one long-term result could be a generation more careful and less persuaded to crash the system than their parents.