Young people have a lot going against them when it comes to money. Many graduate from college with significant student debt. They start their careers at the bottom of their earning potential, so it can be difficult for them to save money or think about investing in their retirements. And many 20-somethings make a deal with their parents to move back home so they can save on living expenses and find their financial footing.
I’m the personal finance editor on the Business desk at The New York Times and I plan to provide more coverage geared toward young people to help them navigate their biggest financial challenges. To do this, we want to learn more about what those challenges are, what you want to learn more about when it comes to money and what kind of stories you want to read.
Fill out our short quiz, then let us know what your biggest questions are when it comes to personal finance. Feel free to share a little about your financial situation so we can get a sense of how to plan coverage that helps young adults get a better handle on their money. If you are not a young adult, but know one or two, consider sharing this with them.
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What is the average credit card debt in the U.S. among young adults ages 18 to 25?
$1,431
$2,282
$4,656
$8,192
What is the average student loan debt in the U.S. among young adults ages 20 to 25?
$9,512
$16,294
$20,900
$27,992
What is the average savings balance among people in the U.S. younger than 35 years old?
$5,456
$11,250
$18,300
$29,924
What is the median annual salary of 20- to 24-year-olds in the U.S.?
$38,325
$47,121
$61,981
$82,103
What is the median amount invested in the stock market among young adults in the U.S. under 35?
$7,700
$10,920
$15,125
$20,190
What percent of 22- to 24-year-olds in the U.S. live with their parents?
11 percent
29 percent
47 percent
56 percent
What percent of 18- to 29-year-olds in the U.S. own a home?
12 percent
29 percent
41 percent
54 percent
For the average young adult under 25 in the U.S., what percent of monthly spending goes to housing (e.g. rent or mortgage)?
19.8 percent
27.4 percent
32.8 percent
37.3 percent
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