Gen Z and millennials postpone life choices under financial pressure, Deloitte finds

Financial pressures are forcing a significant portion of Gen Z and millennials worldwide to delay major life decisions, according to Deloitte's 15th global survey. The study highlights that over half of young professionals are postponing significant life events due to insufficient financial means.

The survey, which polled 22,595 respondents across 44 countries, found that the cost of living remains the primary concern for the fifth consecutive year. Thirty-eight percent of Gen Z and 42% of millennials cited it as their top worry, surpassing issues like crime, unemployment, and political instability.

This financial strain directly influences major life choices. Fifty-five percent of Gen Z and 52% of millennials reported delaying significant decisions such as marriage, starting a family, launching a business, or pursuing further education. Furthermore, a majority of both generations indicated that housing costs and availability significantly impact their career paths, with many unable to afford property ownership.

However, the report also points to signs of improvement and growing optimism. The number of respondents living "paycheck to paycheck" has slightly decreased, and a greater percentage of both generations anticipate their personal financial situation will improve in the next twelve months compared to the previous year. Concurrently, traditional career aspirations, such as reaching leadership positions, hold little appeal for the majority, who cite stress and burnout as primary deterrents.