Millennials feel less in control of their finances than any other generation as they battle with the pressure of the cost-of-living crisis. In a nationwide study of 3,000 adults, 55 per cent of those born between 1981 and 1996, are struggling to stay on top of their money compared with 44 per cent of all those surveyed.
Seven in 10 admit rising costs have already had an impact on both their short and longer-term financial goals, and three in 10 significantly so - which is more than any other generation surveyed. As a result, nearly two-thirds (65 per cent) say they are now placing more importance on planning for their financial future than ever before.
Despite ongoing economic uncertainty, the vast majority (73 per cent) are confident the cost of living crisis will not stop them from achieving their financial goals in the long term.
