American Adults’ Feelings of Financial Responsibility, by Age Group

Three-quarters of American Millennials (18-34) feel that they are financially responsible and generally do not spend beyond their means, according to results from an Ipsos and Wells Fargo survey.

However, Millennials are less likely than adults ages 55 and older (87%) to feel financially responsible, and are about twice as likely to say they tend to spend their money and not think twice about it (36% vs. 19%).

The survey also finds that Millennials (69%) are significantly less likely than adults aged 55 and up (87%) to know and understand the financial process involved in the purchase of a home, presumably as they’re less likely to have been through that process.

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