Nearly half of Generation Z is receiving financial help from their family, with a third getting at least $1,000 per month. Many are turning down social events and adhering to a budget to reduce expenses. The Federal Reserve’s rate hikes have led to some of the highest mortgage rates in two decades, making it challenging for Gen Z to achieve their goals of homeownership. Despite obstacles, younger Americans are showing discipline in saving and spending habits. Only 19% of Gen Z are contributing to 401(k) plans, and less than 20% are invested in the stock market.

Read more at Yahoo Finance: Family Support Crucial for Nearly Half of Gen Z Adults: What This Means